Hsbc Holdings PLC increased its holdings in shares of Vale SA (NYSE:VALE) by 26.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 392,834 shares of the basic materials company’s stock after buying an additional 83,187 shares during the quarter. Hsbc Holdings PLC’s holdings in Vale were worth $5,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. Great West Life Assurance Co. Can purchased a new position in Vale during the 3rd quarter worth $119,000. Johnson Financial Group Inc. grew its stake in Vale by 84.1% during the 2nd quarter. Johnson Financial Group Inc. now owns 11,600 shares of the basic materials company’s stock worth $149,000 after buying an additional 5,300 shares during the last quarter. Summit Securities Group LLC purchased a new position in Vale during the 3rd quarter worth $153,000. CIBC Private Wealth Group LLC grew its stake in Vale by 10,000.0% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 14,140 shares of the basic materials company’s stock worth $181,000 after buying an additional 14,000 shares during the last quarter. Finally, First Republic Investment Management Inc. purchased a new position in Vale during the 2nd quarter worth $187,000. Hedge funds and other institutional investors own 19.88% of the company’s stock.
A number of analysts have commented on VALE shares. ValuEngine raised Vale from a “hold” rating to a “buy” rating in a research report on Friday, September 21st. Jefferies Financial Group raised Vale from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Friday, September 7th. Zacks Investment Research raised Vale from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Wednesday, August 29th. Deutsche Bank set a $15.00 price target on Vale and gave the stock a “hold” rating in a research report on Tuesday, October 2nd. Finally, Macquarie cut Vale from an “outperform” rating to a “neutral” rating in a research report on Tuesday, September 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $15.41.
Shares of VALE opened at $13.14 on Friday. Vale SA has a one year low of $10.64 and a one year high of $16.13. The company has a quick ratio of 1.21, a current ratio of 1.65 and a debt-to-equity ratio of 0.37. The stock has a market cap of $70.96 billion, a price-to-earnings ratio of 9.73 and a beta of 1.53.
Vale (NYSE:VALE) last issued its quarterly earnings results on Wednesday, October 24th. The basic materials company reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.04. Vale had a return on equity of 17.87% and a net margin of 10.70%. The company had revenue of $9.54 billion during the quarter, compared to analysts’ expectations of $8.97 billion. As a group, equities research analysts expect that Vale SA will post 1.59 earnings per share for the current year.
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Vale Company Profile
Vale SA, together with its subsidiaries, produces and sells iron ore and iron ore pallets for use as raw materials in steelmaking in Brazil and internationally. It operates through Ferrous Minerals, Coal, and Base Metals segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and others ferrous products and services, as well as engages in the provision of related railroad, port, and terminal logistics services.
Further Reading: Closed-End Mutual Funds (CEFs)
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