Vale S.A. (NYSE:VALE) Stake Raised by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in Vale S.A. (NYSE:VALE) by 6.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,951,020 shares of the basic materials company’s stock after buying an additional 468,432 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Vale were worth $92,868,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Pacifica Partners Inc. bought a new position in shares of Vale in the second quarter valued at approximately $27,000. Lowe Wealth Advisors LLC acquired a new position in shares of Vale during the 2nd quarter valued at $45,000. Phillips Wealth Planners LLC bought a new stake in shares of Vale in the 3rd quarter worth $118,000. Vawter Financial Ltd. acquired a new stake in shares of Vale in the second quarter valued at $124,000. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in shares of Vale in the second quarter valued at $125,000. Institutional investors own 21.85% of the company’s stock.

Vale Stock Performance

Shares of Vale stock opened at $10.01 on Wednesday. Vale S.A. has a 12 month low of $9.66 and a 12 month high of $16.08. The company has a quick ratio of 0.58, a current ratio of 0.91 and a debt-to-equity ratio of 0.39. The stock has a market cap of $44.88 billion, a PE ratio of 4.63, a price-to-earnings-growth ratio of 0.26 and a beta of 0.94. The business has a fifty day simple moving average of $10.78 and a 200-day simple moving average of $11.07.

Vale (NYSE:VALE) last released its earnings results on Thursday, October 24th. The basic materials company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.15. The company had revenue of $9.55 billion for the quarter, compared to analysts’ expectations of $9.61 billion. Vale had a return on equity of 21.07% and a net margin of 22.59%. During the same quarter in the previous year, the business posted $0.66 EPS. On average, sell-side analysts anticipate that Vale S.A. will post 2.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on VALE. UBS Group lowered shares of Vale from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $14.00 to $11.50 in a research report on Monday, November 11th. Scotiabank reduced their target price on shares of Vale from $17.00 to $16.00 and set a “sector perform” rating for the company in a report on Tuesday, October 15th. Wolfe Research lowered shares of Vale from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, October 9th. StockNews.com began coverage on Vale in a research report on Friday, October 18th. They set a “buy” rating for the company. Finally, Morgan Stanley decreased their target price on Vale from $16.00 to $15.50 and set an “overweight” rating on the stock in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.83.

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.