Vale S.A. (NYSE:VALE) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lessened its position in Vale S.A. (NYSE:VALE) by 12.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 51,719 shares of the basic materials company’s stock after selling 7,338 shares during the period. Geode Capital Management LLC’s holdings in Vale were worth $604,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Vale by 6.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,951,020 shares of the basic materials company’s stock worth $92,868,000 after acquiring an additional 468,432 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Vale in the 3rd quarter worth $1,126,000. Bank of Montreal Can lifted its stake in shares of Vale by 274.4% in the 3rd quarter. Bank of Montreal Can now owns 162,453 shares of the basic materials company’s stock worth $1,915,000 after acquiring an additional 119,061 shares during the period. Bridgewater Associates LP lifted its stake in shares of Vale by 723.2% in the 3rd quarter. Bridgewater Associates LP now owns 2,035,477 shares of the basic materials company’s stock worth $23,774,000 after acquiring an additional 1,788,205 shares during the period. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of Vale in the 3rd quarter worth $1,422,000. Institutional investors and hedge funds own 21.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group cut their price target on shares of Vale from $14.00 to $11.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com assumed coverage on shares of Vale in a report on Friday, December 13th. They issued a “buy” rating for the company. Barclays cut their price target on shares of Vale from $16.00 to $15.25 and set an “overweight” rating for the company in a report on Wednesday, December 4th. Scotiabank cut their price target on shares of Vale from $14.00 to $13.00 and set a “sector perform” rating for the company in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. cut their price target on shares of Vale from $16.50 to $15.00 and set an “overweight” rating for the company in a report on Monday, September 23rd. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Vale currently has an average rating of “Hold” and an average target price of $13.89.

Vale Stock Performance

Shares of NYSE VALE opened at $8.51 on Friday. The company has a market cap of $38.15 billion, a PE ratio of 3.94, a price-to-earnings-growth ratio of 0.27 and a beta of 0.92. Vale S.A. has a 12 month low of $8.42 and a 12 month high of $15.02. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.91 and a quick ratio of 0.58. The company has a 50-day simple moving average of $9.52 and a 200-day simple moving average of $10.35.

Vale (NYSE:VALE) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.15. The business had revenue of $9.55 billion during the quarter, compared to the consensus estimate of $9.61 billion. Vale had a net margin of 22.59% and a return on equity of 21.07%. During the same period in the previous year, the firm posted $0.66 earnings per share. On average, equities analysts anticipate that Vale S.A. will post 2.08 earnings per share for the current 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.