Vale S.A. (NYSE:VALE) Shares Bought by ClariVest Asset Management LLC
ClariVest Asset Management LLC raised its position in shares of Vale S.A. (NYSE:VALE) by 7.9% during the second quarter, Holdings Channel reports. The institutional investor owned 1,070,100 shares of the basic materials company’s stock after buying an additional 78,200 shares during the period. ClariVest Asset Management LLC’s holdings in Vale were worth $9,363,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the stock. Raymond James Trust N.A. purchased a new stake in Vale during the first quarter valued at $101,000. Nine Chapters Capital Management LLC purchased a new stake in Vale during the first quarter valued at $107,000. Cadinha & Co. LLC purchased a new stake in Vale during the first quarter valued at $109,000. Wedbush Securities Inc. increased its stake in Vale by 0.7% in the second quarter. Wedbush Securities Inc. now owns 12,991 shares of the basic materials company’s stock valued at $114,000 after buying an additional 84 shares during the period. Finally, HRT Financial LLC purchased a new stake in Vale during the first quarter valued at $132,000. 8.88% of the stock is currently owned by hedge funds and other institutional investors.
Vale S.A. (NYSE:VALE) opened at 9.69 on Friday. The stock has a 50 day moving average price of $9.30 and a 200 day moving average price of $9.28. The company has a market capitalization of $49.94 billion, a price-to-earnings ratio of 13.74 and a beta of 1.55. Vale S.A. has a 52-week low of $4.86 and a 52-week high of $11.70.
Vale (NYSE:VALE) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. The firm had revenue of $7.24 billion during the quarter. Vale had a net margin of 11.01% and a return on equity of 16.74%. Equities research analysts forecast that Vale S.A. will post $1.03 earnings per share for the current year.
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Several equities research analysts recently weighed in on the company. Credit Suisse Group set a $8.00 price objective on Vale and gave the company a “hold” rating in a report on Sunday, May 28th. BMO Capital Markets set a $8.00 price objective on Vale and gave the company a “hold” rating in a report on Tuesday, August 8th. Jefferies Group LLC set a $8.00 price objective on Vale and gave the company a “hold” rating in a report on Thursday, June 8th. BidaskClub downgraded Vale from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Cowen and Company reissued a “hold” rating and set a $10.00 price objective on shares of Vale in a report on Friday, July 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the stock. Vale presently has an average rating of “Buy” and an average target price of $9.16.
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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