Vale SA (VALE) Sees Significant Decrease in Short Interest
Vale SA (NYSE:VALE) was the target of a large decrease in short interest in the month of December. As of December 29th, there was short interest totalling 82,749,486 shares, a decrease of 6.5% from the December 15th total of 88,470,660 shares. Based on an average trading volume of 17,456,703 shares, the short-interest ratio is presently 4.7 days.
A number of institutional investors have recently added to or reduced their stakes in VALE. Raymond James Trust N.A. increased its holdings in Vale by 8.4% in the 2nd quarter. Raymond James Trust N.A. now owns 11,560 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 893 shares in the last quarter. Verition Fund Management LLC purchased a new stake in Vale in the 2nd quarter worth approximately $107,000. KCS Wealth Advisory purchased a new stake in Vale in the 4th quarter worth approximately $125,000. Private Advisor Group LLC purchased a new stake in Vale in the 2nd quarter worth approximately $127,000. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Vale in the 3rd quarter worth approximately $151,000. 18.90% of the stock is owned by institutional investors.
Several equities analysts have issued reports on the stock. Deutsche Bank cut shares of Vale from a “buy” rating to a “hold” rating and upped their target price for the company from $12.00 to $12.50 in a research note on Tuesday. Barclays set a $15.00 price target on shares of Vale and gave the company a “buy” rating in a research report on Monday, January 8th. Credit Suisse Group raised shares of Vale from a “neutral” rating to an “outperform” rating and upped their price target for the company from $11.32 to $15.00 in a research report on Tuesday, December 5th. Royal Bank of Canada set a $15.00 price target on shares of Vale and gave the company a “buy” rating in a research report on Tuesday, December 5th. Finally, Morgan Stanley raised shares of Vale from an “equal weight” rating to an “overweight” rating and set a $12.00 price target for the company in a research report on Monday, November 27th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $11.71.
Vale (NYSE:VALE) last released its earnings results on Thursday, October 26th. The basic materials company reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.15. The company had revenue of $9.05 billion during the quarter. Vale had a net margin of 15.25% and a return on equity of 19.02%. sell-side analysts expect that Vale will post 1.24 earnings per share for the current fiscal year.
The company also recently announced a None dividend, which will be paid on Thursday, March 22nd. Investors of record on Tuesday, December 26th will be issued a $0.098 dividend. The ex-dividend date of this dividend is Friday, December 22nd. Vale’s dividend payout ratio is 25.95%.
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Vale Company Profile
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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