Ninety One North America Inc. Raises Holdings in Vale S.A. (NYSE:VALE)

Ninety One North America Inc. increased its position in Vale S.A. (NYSE:VALE) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,820,592 shares of the basic materials company’s stock after buying an additional 20,692 shares during the quarter. Vale comprises about 1.5% of Ninety One North America Inc.’s investment portfolio, making the stock its 28th biggest position. Ninety One North America Inc.’s holdings in Vale were worth $25,019,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Vale by 6.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,951,020 shares of the basic materials company’s stock valued at $92,868,000 after acquiring an additional 468,432 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Vale during the third quarter valued at about $1,126,000. Bank of Montreal Can grew its stake in shares of Vale by 274.4% during the third quarter. Bank of Montreal Can now owns 162,453 shares of the basic materials company’s stock valued at $1,915,000 after acquiring an additional 119,061 shares in the last quarter. Bridgewater Associates LP grew its stake in shares of Vale by 723.2% during the third quarter. Bridgewater Associates LP now owns 2,035,477 shares of the basic materials company’s stock valued at $23,774,000 after acquiring an additional 1,788,205 shares in the last quarter. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of Vale during the third quarter valued at about $1,422,000. 21.85% of the stock is owned by hedge funds and other institutional investors.

Vale Stock Performance

VALE stock opened at $9.43 on Tuesday. 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 company has a market capitalization of $42.82 billion, a price-to-earnings ratio of 4.36, a P/E/G ratio of 0.29 and a beta of 0.91. Vale S.A. has a 12 month low of $8.38 and a 12 month high of $13.77. The firm has a 50 day moving average of $9.12 and a two-hundred day moving average of $10.09.

Wall Street Analysts Forecast Growth

VALE has been the subject of a number of research reports. Jefferies Financial Group decreased their price target on Vale from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Wolfe Research upgraded Vale from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Barclays decreased their target price on Vale from $16.00 to $15.25 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. UBS Group downgraded Vale from a “buy” rating to a “neutral” rating and decreased their target price for the company from $14.00 to $11.50 in a research note on Monday, November 11th. Finally, StockNews.com began coverage on Vale in a research note on Friday, December 13th. They issued a “buy” rating for the company. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $13.89.

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.