Hsbc Holdings PLC grew its stake in Vale SA (NYSE:VALE) by 26.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 392,834 shares of the basic materials company’s stock after purchasing an additional 83,187 shares during the period. Hsbc Holdings PLC’s holdings in Vale were worth $5,830,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of VALE. Great West Life Assurance Co. Can bought a new stake in shares of Vale during the 3rd quarter worth approximately $119,000. Summit Securities Group LLC bought a new stake in shares of Vale during the 3rd quarter worth approximately $153,000. Johnson Financial Group Inc. lifted its stake in shares of 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 acquiring an additional 5,300 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of 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 acquiring an additional 14,000 shares during the last quarter. Finally, Private Advisor Group LLC bought a new stake in shares of Vale during the 3rd quarter worth approximately $213,000. 19.88% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE VALE opened at $13.14 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.65 and a quick ratio of 1.21. The firm has a market cap of $70.96 billion, a price-to-earnings ratio of 9.73 and a beta of 1.53. Vale SA has a twelve month low of $10.64 and a twelve month high of $16.13.
Vale (NYSE:VALE) last issued its earnings results on Wednesday, October 24th. The basic materials company reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.04. The business had revenue of $9.54 billion during the quarter, compared to analyst estimates of $8.97 billion. Vale had a return on equity of 17.87% and a net margin of 10.70%. Research analysts expect that Vale SA will post 1.59 earnings per share for the current fiscal year.
A number of equities research analysts recently issued reports on VALE shares. ValuEngine raised Vale from a “hold” rating to a “buy” rating in a research note 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 note 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 note on Wednesday, August 29th. Deutsche Bank set a $15.00 price target on Vale and gave the stock a “hold” rating in a research note on Tuesday, October 2nd. Finally, Macquarie lowered Vale from an “outperform” rating to a “neutral” rating in a research note on Tuesday, September 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $15.41.
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.
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