Tidal Investments LLC Buys 35,183 Shares of Vale S.A. (NYSE:VALE)

Tidal Investments LLC increased its stake in shares of Vale S.A. (NYSE:VALE) by 13.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 301,410 shares of the basic materials company’s stock after buying an additional 35,183 shares during the quarter. Tidal Investments LLC’s holdings in Vale were worth $3,520,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. raised its stake in Vale by 6.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,951,020 shares of the basic materials company’s stock worth $92,868,000 after acquiring an additional 468,432 shares in the last quarter. Bank of Montreal Can increased its position in shares of Vale by 274.4% during the 3rd quarter. Bank of Montreal Can now owns 162,453 shares of the basic materials company’s stock worth $1,915,000 after purchasing an additional 119,061 shares in the last quarter. Bridgewater Associates LP lifted its holdings in Vale by 723.2% during the 3rd quarter. Bridgewater Associates LP now owns 2,035,477 shares of the basic materials company’s stock valued at $23,774,000 after purchasing an additional 1,788,205 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new position in Vale in the third quarter valued at about $1,422,000. Finally, NFJ Investment Group LLC grew its stake in Vale by 17.6% during the third quarter. NFJ Investment Group LLC now owns 469,036 shares of the basic materials company’s stock worth $5,478,000 after buying an additional 70,278 shares during the last quarter. Institutional investors and hedge funds own 21.85% of the company’s stock.

Wall Street Analyst Weigh In

VALE has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their target price on shares of Vale from $16.50 to $15.00 and set an “overweight” rating for the company in a research note on Monday, September 23rd. Barclays reduced their price objective on Vale from $16.00 to $15.25 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. StockNews.com started coverage on Vale in a research note on Friday. They issued a “buy” rating for the company. UBS Group downgraded shares of Vale from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $14.00 to $11.50 in a research report on Monday, November 11th. Finally, Scotiabank lowered their price objective on shares of Vale from $16.00 to $14.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Vale presently has an average rating of “Hold” and an average target price of $14.38.

Vale Price Performance

VALE opened at $9.26 on Friday. The company has a fifty day moving average price of $10.33 and a two-hundred day moving average price of $10.72. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.58 and a current ratio of 0.91. The firm has a market capitalization of $41.51 billion, a PE ratio of 4.29, a P/E/G ratio of 0.27 and a beta of 0.91. Vale S.A. has a 52 week low of $9.22 and a 52 week high of $16.08.

Vale (NYSE:VALE) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. Vale had a return on equity of 21.07% and a net margin of 22.59%. The business had revenue of $9.55 billion during the quarter, compared to the consensus estimate of $9.61 billion. During the same quarter in the prior year, the company posted $0.66 earnings per share. As a group, analysts anticipate that Vale S.A. will post 2.08 earnings per share for the current year.

Vale Company Profile

Vale SA, together with its subsidiaries, produces and sells iron ore and iron ore pellets for use as raw materials in steelmaking in Brazil and internationally. The company operates through Iron Solutions and Energy Transition Materials segments. The Iron Solutions segment produces and extracts iron ore and pellets, manganese, and other ferrous products; and provides related logistic services.