Bank of Montreal Can Purchases 119,061 Shares of Vale S.A. (NYSE:VALE)

Bank of Montreal Can lifted its position in Vale S.A. (NYSE:VALE) by 274.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 162,453 shares of the basic materials company’s stock after purchasing an additional 119,061 shares during the quarter. Bank of Montreal Can’s holdings in Vale were worth $1,915,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Cetera Investment Advisers raised its stake in shares of Vale by 316.9% during the first quarter. Cetera Investment Advisers now owns 217,250 shares of the basic materials company’s stock worth $2,648,000 after acquiring an additional 165,141 shares in the last quarter. Cetera Advisors LLC lifted its stake in shares of Vale by 109.1% in the 1st quarter. Cetera Advisors LLC now owns 101,406 shares of the basic materials company’s stock valued at $1,236,000 after acquiring an additional 52,906 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in Vale during the 2nd quarter valued at about $3,735,000. OLD National Bancorp IN grew its position in Vale by 20.9% during the 2nd quarter. OLD National Bancorp IN now owns 28,289 shares of the basic materials company’s stock worth $316,000 after acquiring an additional 4,889 shares during the last quarter. Finally, QRG Capital Management Inc. increased its stake in Vale by 12.0% in the 2nd quarter. QRG Capital Management Inc. now owns 53,903 shares of the basic materials company’s stock worth $602,000 after purchasing an additional 5,794 shares during the period. 21.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wolfe Research cut shares of Vale from a “peer perform” rating to an “underperform” rating in a report on Wednesday, October 9th. Morgan Stanley lowered their price objective on shares of Vale from $16.00 to $15.50 and set an “overweight” rating for the company in a research note on Thursday, September 19th. JPMorgan Chase & Co. reduced their price target on Vale from $16.50 to $15.00 and set an “overweight” rating on the stock in a report on Monday, September 23rd. Scotiabank cut their price objective on Vale from $16.00 to $14.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 20th. Finally, StockNews.com started coverage on shares of Vale in a research report on Friday, October 18th. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Vale currently has an average rating of “Hold” and a consensus price target of $14.91.

Vale Stock Performance

Vale stock opened at $9.63 on Friday. The stock’s 50 day moving average is $10.57 and its 200 day moving average is $10.86. The company has a market capitalization of $43.17 billion, a P/E ratio of 4.46, a PEG ratio of 0.26 and a beta of 0.91. Vale S.A. has a twelve month low of $9.42 and a twelve month high of $16.08. The company has a quick ratio of 0.58, a current ratio of 0.91 and a debt-to-equity ratio of 0.39.

Vale (NYSE:VALE) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.15. Vale had a return on equity of 21.07% and a net margin of 22.59%. The firm had revenue of $9.55 billion during the quarter, compared to the consensus estimate of $9.61 billion. During the same period last year, the company earned $0.66 earnings per share. On average, equities research analysts predict that Vale S.A. will post 2.13 earnings per share for the current fiscal year.

Vale Company Profile

Vale SA, together with its subsidiaries, produces and sells iron ore and iron ore pellets for use as raw materials in steelmaking in Brazil and internationally. The company operates through Iron Solutions and Energy Transition Materials segments. The Iron Solutions segment produces and extracts iron ore and pellets, manganese, and other ferrous products; and provides related logistic services.