Vale S.A. (VALE) Short Interest Update
Vale S.A. (NYSE:VALE) saw a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 97,666,661 shares, an increase of 6.6% from the June 15th total of 91,620,675 shares. Based on an average daily volume of 26,839,755 shares, the short-interest ratio is presently 3.6 days.
Large investors have recently modified their holdings of the company. Raymond James Trust N.A. bought a new stake in shares of Vale during the first quarter valued at approximately $101,000. Nine Chapters Capital Management LLC bought a new stake in shares of Vale during the first quarter valued at approximately $107,000. Cadinha & Co. LLC bought a new stake in shares of Vale during the first quarter valued at approximately $109,000. Wedbush Securities Inc. raised its stake in shares of Vale by 19.2% in the first quarter. Wedbush Securities Inc. now owns 12,907 shares of the basic materials company’s stock valued at $123,000 after buying an additional 2,075 shares during the last quarter. Finally, HRT Financial LLC bought a new stake in shares of Vale during the first quarter valued at approximately $132,000. Institutional investors own 9.01% of the company’s stock.
Several research firms have weighed in on VALE. Credit Suisse Group set a $8.00 target price on shares of Vale and gave the stock a “hold” rating in a research report on Sunday, May 28th. Jefferies Group LLC reissued a “hold” rating and set a $8.50 target price on shares of Vale in a research report on Friday. HSBC Holdings plc reissued a “hold” rating and set a $10.00 target price (down previously from $10.25) on shares of Vale in a research report on Wednesday, May 17th. Vetr downgraded shares of Vale from a “strong-buy” rating to a “buy” rating and set a $9.51 target price on the stock. in a research report on Monday, May 29th. Finally, Clarkson Capital reissued a “neutral” rating on shares of Vale in a research report on Monday, July 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Vale presently has an average rating of “Buy” and an average price target of $9.11.
Shares of Vale (NYSE VALE) opened at 9.30 on Tuesday. The company’s 50-day moving average is $8.28 and its 200-day moving average is $9.10. The stock has a market capitalization of $47.93 billion, a P/E ratio of 10.64 and a beta of 1.52. Vale has a one year low of $4.86 and a one year high of $11.70.
Vale (NYSE:VALE) last issued its earnings results on Thursday, April 27th. The basic materials company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.48 by $0.07. The company had revenue of $8.52 billion for the quarter. Vale had a return on equity of 16.32% and a net margin of 14.60%. On average, equities research analysts anticipate that Vale will post $1.03 earnings per share for the current year.
Vale SA is a global producer of iron ore and iron ore pellets, key raw materials for steelmaking, and producer of nickel. The Company also produces copper, metallurgical and thermal coal, potash, phosphates and other fertilizer nutrients, manganese ore, ferroalloys, platinum group metals, gold, silver and cobalt.
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