Van ECK Associates Corp Grows Stake in Vale S.A. $VALE

Van ECK Associates Corp boosted its stake in shares of Vale S.A. (NYSE:VALE) by 8.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,565,904 shares of the basic materials company’s stock after acquiring an additional 358,581 shares during the quarter. Van ECK Associates Corp’s holdings in Vale were worth $68,671,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. NewEdge Advisors LLC boosted its holdings 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 purchasing an additional 3,704 shares during the period. Jones Financial Companies Lllp raised its holdings in Vale by 46.6% during the 1st quarter. Jones Financial Companies Lllp now owns 37,613 shares of the basic materials company’s stock valued at $375,000 after buying an additional 11,964 shares during the period. Empowered Funds LLC purchased a new stake in Vale during the 1st quarter valued at $171,000. Strs Ohio bought a new stake in Vale in the first quarter worth $117,000. Finally, Sivia Capital Partners LLC bought a new stake in Vale in the second quarter worth $123,000. 21.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on VALE. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $18.00 price objective on shares of Vale in a research note on Friday, May 15th. JPMorgan Chase & Co. raised their target price on shares of Vale from $19.50 to $21.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Royal Bank Of Canada restated a “sector perform” rating on shares of Vale in a report on Monday, June 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Vale in a research note on Wednesday, July 8th. Finally, Scotiabank cut their price target on shares of Vale from $19.00 to $16.00 and set a “sector perform” rating on the stock in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $16.00.

Vale Stock Down 1.8%

NYSE:VALE opened at $15.04 on Friday. The company has a market cap of $68.27 billion, a price-to-earnings ratio of 30.69 and a beta of 0.47. Vale S.A. has a twelve month low of $10.08 and a twelve month high of $17.94. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 0.45. The stock has a fifty day simple moving average of $14.66 and a 200-day simple moving average of $15.66.

Vale (NYSE:VALE) last posted its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.10). The company had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $10.47 billion. Vale had a return on equity of 19.87% and a net margin of 5.11%. Analysts anticipate that Vale S.A. will post 1.9 EPS for the current year.

Vale Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 13th will be given a $0.3088 dividend. The ex-dividend date of this dividend is Thursday, August 13th. Vale’s payout ratio is 89.80%.

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.