Syntax Research Inc. Makes New $198,000 Investment in Vale S.A. (NYSE:VALE)

Syntax Research Inc. purchased a new stake in shares of Vale S.A. (NYSE:VALE) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,983 shares of the basic materials company’s stock, valued at approximately $198,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp raised its position in shares of Vale by 1.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 62,076 shares of the basic materials company’s stock valued at $693,000 after acquiring an additional 1,187 shares during the period. Signature Estate & Investment Advisors LLC bought a new position in shares of Vale during the second quarter worth $125,000. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Vale by 32.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 844,016 shares of the basic materials company’s stock valued at $9,428,000 after buying an additional 207,129 shares during the period. Atomi Financial Group Inc. grew its holdings in shares of Vale by 46.5% in the 2nd quarter. Atomi Financial Group Inc. now owns 35,959 shares of the basic materials company’s stock valued at $402,000 after buying an additional 11,417 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC increased its position in shares of Vale by 15.6% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 15,524 shares of the basic materials company’s stock valued at $173,000 after buying an additional 2,090 shares in the last quarter. Institutional investors and hedge funds own 21.85% of the company’s stock.

Wall Street Analysts Forecast Growth

VALE has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on Vale from $16.50 to $15.00 and set an “overweight” rating on the stock in a report on Monday, September 23rd. Wolfe Research cut Vale from a “peer perform” rating to an “underperform” rating in a report on Wednesday, October 9th. UBS Group cut Vale from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $14.00 to $11.50 in a research note on Monday, November 11th. Scotiabank cut their price target on shares of Vale from $16.00 to $14.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 20th. Finally, Barclays reduced their price target on shares of Vale from $16.00 to $15.25 and set an “overweight” rating for the company in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Vale currently has an average rating of “Hold” and an average target price of $14.38.

Vale Stock Performance

Shares of VALE stock opened at $9.19 on Wednesday. Vale S.A. has a 12 month low of $9.00 and a 12 month high of $16.08. The company’s fifty day simple moving average is $10.24 and its 200-day simple moving average is $10.67. The firm has a market cap of $41.20 billion, a PE ratio of 4.25, a P/E/G ratio of 0.27 and a beta of 0.91. The company has a quick ratio of 0.58, a current ratio of 0.91 and a debt-to-equity ratio of 0.39.

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

Vale 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.