Drive Wealth Management LLC Takes Position in Vale S.A. (NYSE:VALE)

Drive Wealth Management LLC purchased a new stake in Vale S.A. (NYSE:VALE) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 11,114 shares of the basic materials company’s stock, valued at approximately $99,000.

Several other large investors have also modified their holdings of VALE. The Manufacturers Life Insurance Company lifted its stake in shares of Vale by 1,816.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,516,334 shares of the basic materials company’s stock valued at $16,937,000 after purchasing an additional 1,437,200 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Vale by 4.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 138,509 shares of the basic materials company’s stock valued at $1,547,000 after buying an additional 6,173 shares during the period. SPX Gestao de Recursos Ltda raised its holdings in shares of Vale by 60.6% in the 2nd quarter. SPX Gestao de Recursos Ltda now owns 21,969,937 shares of the basic materials company’s stock valued at $245,404,000 after buying an additional 8,288,112 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Vale in the 2nd quarter valued at $429,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Vale in the 2nd quarter valued at $5,360,000. Institutional investors and hedge funds own 21.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on VALE shares. Wolfe Research upgraded Vale from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Morgan Stanley downgraded Vale from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $14.50 to $11.30 in a report on Thursday, December 12th. Jefferies Financial Group cut their price objective on Vale from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, January 6th. UBS Group downgraded Vale from a “buy” rating to a “neutral” rating and cut their price target for the stock from $14.00 to $11.50 in a report on Monday, November 11th. Finally, Barclays cut their price target on Vale from $16.00 to $15.25 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $13.89.

Vale Trading Down 1.6 %

NYSE:VALE opened at $9.02 on Wednesday. The stock has a 50-day simple moving average of $9.19 and a 200-day simple moving average of $10.15. The stock has a market cap of $39.76 billion, a P/E ratio of 4.17, a P/E/G ratio of 0.27 and a beta of 0.92. Vale S.A. has a 1 year low of $8.38 and a 1 year high of $14.00. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.58 and a current ratio of 0.91.

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.