Vale S.A. (NYSE:VALE) Shares Acquired by Prosperitas Financial LLC

Prosperitas Financial LLC boosted its position in Vale S.A. (NYSE:VALE) by 20.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 203,380 shares of the basic materials company’s stock after acquiring an additional 34,366 shares during the quarter. Prosperitas Financial LLC’s holdings in Vale were worth $2,375,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in VALE. SPX Gestao de Recursos Ltda increased its position in Vale by 60.6% during the 2nd quarter. SPX Gestao de Recursos Ltda now owns 21,969,937 shares of the basic materials company’s stock worth $245,404,000 after purchasing an additional 8,288,112 shares in the last quarter. Marshall Wace LLP grew its stake in Vale by 395.3% during the second quarter. Marshall Wace LLP now owns 7,152,069 shares of the basic materials company’s stock worth $79,889,000 after buying an additional 5,707,969 shares during the period. Van ECK Associates Corp increased its position in shares of Vale by 110.9% in the second quarter. Van ECK Associates Corp now owns 5,459,485 shares of the basic materials company’s stock worth $60,983,000 after acquiring an additional 2,871,094 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Vale by 27.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 11,853,914 shares of the basic materials company’s stock worth $132,408,000 after acquiring an additional 2,578,900 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Vale in the 3rd quarter valued at $30,038,000. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Vale Price Performance

VALE stock opened at $10.60 on Friday. The stock’s 50 day moving average is $10.79 and its two-hundred day moving average is $11.24. Vale S.A. has a 52-week low of $9.66 and a 52-week high of $16.08. The company has a market capitalization of $47.52 billion, a PE ratio of 4.91, a P/E/G ratio of 0.29 and a beta of 0.95. The company has a quick ratio of 0.73, a current ratio of 0.91 and a debt-to-equity ratio of 0.39.

Vale (NYSE:VALE) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.15. Vale had a net margin of 22.59% and a return on equity of 21.07%. The business had revenue of $9.55 billion during the quarter, compared to analyst estimates of $9.61 billion. During the same quarter in the previous year, the firm earned $0.66 earnings per share. Analysts predict that Vale S.A. will post 2.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. StockNews.com initiated coverage on shares of Vale in a research report on Friday, October 18th. They set a “buy” rating for the company. Scotiabank decreased their target price on Vale from $17.00 to $16.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 15th. Wolfe Research lowered Vale from a “peer perform” rating to an “underperform” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. reduced their price target on Vale from $16.50 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, September 23rd. Finally, Morgan Stanley lowered their price objective on shares of Vale from $16.00 to $15.50 and set an “overweight” rating for the company in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.17.

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.