Mirabella Financial Services LLP Buys 279,789 Shares of Vale S.A. (NYSE:VALE)

Mirabella Financial Services LLP lifted its position in Vale S.A. (NYSE:VALE) by 171.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 442,818 shares of the basic materials company’s stock after acquiring an additional 279,789 shares during the quarter. Mirabella Financial Services LLP’s holdings in Vale were worth $5,172,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd grew its position in Vale by 195.3% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 64,355 shares of the basic materials company’s stock worth $751,000 after purchasing an additional 42,565 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Vale by 10.7% in the third quarter. Fisher Asset Management LLC now owns 17,404,942 shares of the basic materials company’s stock valued at $203,290,000 after acquiring an additional 1,682,544 shares in the last quarter. Banco Santander S.A. increased its position in shares of Vale by 32.9% during the third quarter. Banco Santander S.A. now owns 382,082 shares of the basic materials company’s stock valued at $4,463,000 after acquiring an additional 94,585 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Vale by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,906,975 shares of the basic materials company’s stock worth $139,073,000 after acquiring an additional 53,061 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in Vale by 15.8% in the third quarter. Advisors Asset Management Inc. now owns 238,220 shares of the basic materials company’s stock worth $2,782,000 after purchasing an additional 32,462 shares during the last quarter. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Vale Trading Up 0.6 %

Shares of VALE opened at $10.08 on Monday. The business’s 50-day moving average price is $10.76 and its 200-day moving average price is $11.02. 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 S.A. has a twelve month low of $9.66 and a twelve month high of $16.08. The stock has a market cap of $45.19 billion, a PE ratio of 4.64, a P/E/G ratio of 0.27 and a beta of 0.94.

Vale (NYSE:VALE) last posted its earnings results on Thursday, October 24th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.15. The business had revenue of $9.55 billion for the quarter, compared to analysts’ expectations 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 company posted $0.66 EPS. On average, equities analysts forecast that Vale S.A. will post 2.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on VALE shares. JPMorgan Chase & Co. lowered their target price on Vale from $16.50 to $15.00 and set an “overweight” rating on the stock in a research note on Monday, September 23rd. StockNews.com started coverage on shares of Vale in a research report on Friday, October 18th. They set a “buy” rating for the company. Morgan Stanley dropped their price objective on Vale from $16.00 to $15.50 and set an “overweight” rating on the stock in a research note on Thursday, September 19th. Wolfe Research downgraded Vale from a “peer perform” rating to an “underperform” rating in a research note on Wednesday, October 9th. Finally, Scotiabank dropped their price objective on shares of Vale from $16.00 to $14.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $15.13.

About Vale

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.