Pictet Asset Management Holding SA Invests $2.36 Million in Vale S.A. $VALE

Pictet Asset Management Holding SA purchased a new position in Vale S.A. (NYSE:VALE) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 148,305 shares of the basic materials company’s stock, valued at approximately $2,360,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital World Investors lifted its holdings in Vale by 58.2% during the 4th quarter. Capital World Investors now owns 89,322,261 shares of the basic materials company’s stock worth $1,163,896,000 after buying an additional 32,864,929 shares during the last quarter. GQG Partners LLC increased its holdings in shares of Vale by 42.4% in the 4th quarter. GQG Partners LLC now owns 65,132,572 shares of the basic materials company’s stock valued at $848,677,000 after acquiring an additional 19,397,396 shares during the last quarter. Capital International Investors increased its holdings in shares of Vale by 4.3% in the 3rd quarter. Capital International Investors now owns 46,215,387 shares of the basic materials company’s stock valued at $501,715,000 after acquiring an additional 1,910,266 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Vale by 2,239.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 41,596,000 shares of the basic materials company’s stock valued at $541,996,000 after acquiring an additional 39,818,066 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Vale by 16.7% during 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. 21.85% of the stock is owned by institutional investors.

Vale Price Performance

Shares of VALE opened at $14.97 on Monday. Vale S.A. has a 12 month low of $9.36 and a 12 month high of $17.94. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.24 and a quick ratio of 0.79. The stock has a fifty day moving average price of $15.98 and a 200 day moving average price of $15.66. The company has a market cap of $67.97 billion, a P/E ratio of 22.35 and a beta of 0.46.

Vale (NYSE:VALE) last issued its quarterly earnings data on Tuesday, April 28th. The basic materials company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.08). The firm had revenue of $9.26 billion during the quarter, compared to the consensus estimate of $9.53 billion. Vale had a net margin of 7.21% and a return on equity of 21.10%. On average, research analysts forecast that Vale S.A. will post 2.15 earnings per share for the current year.

Wall Street Analyst Weigh In

VALE has been the subject of a number of research reports. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Vale in a report on Monday, June 15th. Morgan Stanley raised their price target on shares of Vale from $18.00 to $19.50 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $18.00 price target on shares of Vale in a report on Friday, May 15th. Wall Street Zen raised shares of Vale from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. Finally, Wells Fargo & Company dropped their price objective on shares of Vale from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Vale currently has an average rating of “Moderate Buy” and a consensus target price of $16.85.

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.