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

Pictet Asset Management Holding SA purchased a new stake in shares of Vale S.A. (NYSE:VALE) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 148,305 shares of the basic materials company’s stock, valued at approximately $2,360,000.

Several other institutional investors have also bought and sold shares of VALE. NewEdge Advisors LLC lifted its stake in shares of Vale by 4.9% in the 1st quarter. NewEdge Advisors LLC now owns 79,400 shares of the basic materials company’s stock worth $792,000 after acquiring an additional 3,704 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Vale by 46.6% during the first quarter. Jones Financial Companies Lllp now owns 37,613 shares of the basic materials company’s stock valued at $375,000 after acquiring an additional 11,964 shares during the period. Empowered Funds LLC bought a new stake in Vale during the first quarter worth approximately $171,000. Strs Ohio bought a new stake in Vale during the first quarter worth approximately $117,000. Finally, Sivia Capital Partners LLC acquired a new stake in Vale in the second quarter worth approximately $123,000. Institutional investors and hedge funds own 21.85% of the company’s stock.

Vale Price Performance

NYSE VALE opened at $14.97 on Monday. The stock has a market capitalization of $67.97 billion, a P/E ratio of 22.35 and a beta of 0.46. Vale S.A. has a 1 year low of $9.36 and a 1 year high of $17.94. The business’s fifty day moving average is $15.98 and its two-hundred day moving average is $15.66. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.79 and a current ratio of 1.24.

Vale (NYSE:VALE) last announced its quarterly earnings data on Tuesday, April 28th. The basic materials company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.08). The company had revenue of $9.26 billion for the quarter, compared to analyst estimates 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 fiscal year.

Analyst Ratings Changes

VALE has been the subject of a number of research reports. UBS Group increased their price target on Vale from $12.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, March 27th. Wall Street Zen raised Vale from a “hold” rating to a “buy” rating in a research note on Saturday, June 20th. Scotiabank set a $19.00 price objective on Vale in a report on Monday, June 15th. Bank of America raised Vale from a “neutral” rating to a “buy” rating and raised their target price for the company from $18.00 to $19.00 in a research note on Thursday, April 2nd. Finally, Wells Fargo & Company lowered their target price on Vale from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Vale presently has an average rating of “Moderate Buy” and a consensus target price of $16.85.

Vale Profile

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.