Cibc World Market Inc. Purchases 167,954 Shares of Vale S.A. $VALE

Cibc World Market Inc. increased its position in shares of Vale S.A. (NYSE:VALE) by 21.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 952,345 shares of the basic materials company’s stock after buying an additional 167,954 shares during the period. Cibc World Market Inc.’s holdings in Vale were worth $14,323,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital World Investors lifted its stake in shares of Vale by 58.2% in the 4th quarter. Capital World Investors now owns 89,322,261 shares of the basic materials company’s stock valued at $1,163,896,000 after purchasing an additional 32,864,929 shares during the period. GQG Partners LLC boosted its holdings in shares of Vale by 42.4% during the 4th quarter. GQG Partners LLC now owns 65,132,572 shares of the basic materials company’s stock worth $848,677,000 after buying an additional 19,397,396 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Vale by 15.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 47,947,703 shares of the basic materials company’s stock worth $762,848,000 after buying an additional 6,351,703 shares during the period. Invesco Ltd. increased its stake in shares of Vale by 16.7% in the 3rd quarter. Invesco Ltd. now owns 28,961,848 shares of the basic materials company’s stock valued at $314,526,000 after acquiring an additional 4,151,563 shares in the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of Vale by 5.4% in the 1st quarter. Lazard Asset Management LLC now owns 23,685,915 shares of the basic materials company’s stock valued at $376,843,000 after acquiring an additional 1,205,280 shares in the last quarter. Institutional investors and hedge funds own 21.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wells Fargo & Company dropped their target price on shares of Vale from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Vale in a report on Wednesday, July 8th. Morgan Stanley reissued an “equal weight” rating and set a $16.50 price objective (down from $19.50) on shares of Vale in a research report on Wednesday, July 8th. Wall Street Zen downgraded Vale from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Finally, Scotiabank decreased their target price on Vale from $19.00 to $16.00 and set a “sector perform” rating for the company in a research report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $16.00.

Vale Stock Performance

Shares of VALE stock opened at $15.04 on Tuesday. The firm has a market capitalization of $68.29 billion, a PE ratio of 30.70 and a beta of 0.47. The firm has a fifty day simple moving average of $14.70 and a two-hundred day simple moving average of $15.70. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 0.45. Vale S.A. has a 12 month low of $10.08 and a 12 month high of $17.94.

Vale (NYSE:VALE) last released its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.10). The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $10.47 billion. Vale had a net margin of 5.11% and a return on equity of 19.87%. Analysts forecast that Vale S.A. will post 1.9 EPS for the current fiscal year.

Vale Announces Dividend

The business also recently declared a special dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 13th will be paid a dividend of $0.3088 per share. The ex-dividend date is Thursday, August 13th. Vale’s payout ratio is 89.80%.

About Vale

Vale SA is a Brazilian multinational mining company and one of the world’s largest producers of iron ore and iron ore pellets. In addition to iron ore, the company produces and sells a range of bulk commodities and metals, including nickel, copper, coal, manganese, ferroalloys and cobalt, and it participates in the fertilizer inputs market. Vale also operates extensive logistics assets — including rail, port and maritime logistics — that support its mining and export activities and provide services to third parties in some regions.

Headquartered in Brazil, Vale maintains a global operational footprint with mining, processing and shipping activities across the Americas, Africa, Asia and Oceania.