Holocene Advisors LP Invests $80.30 Million in Vale S.A. (NYSE:VALE)

Holocene Advisors LP acquired a new stake in Vale S.A. (NYSE:VALE) in the third quarter, HoldingsChannel reports. The firm acquired 6,875,008 shares of the basic materials company’s stock, valued at approximately $80,300,000.

Several other hedge funds have also added to or reduced their stakes in VALE. Ballentine Partners LLC raised its stake in shares of Vale by 7.8% during the third quarter. Ballentine Partners LLC now owns 13,627 shares of the basic materials company’s stock valued at $159,000 after acquiring an additional 987 shares during the last quarter. Legacy Capital Group California Inc. grew its position in shares of Vale by 6.9% in the 2nd quarter. Legacy Capital Group California Inc. now owns 17,932 shares of the basic materials company’s stock valued at $200,000 after buying an additional 1,154 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Vale by 1.9% in the second quarter. Bank of New York Mellon Corp now owns 62,076 shares of the basic materials company’s stock valued at $693,000 after buying an additional 1,187 shares during the period. IFG Advisory LLC raised its position in shares of Vale by 6.1% during the second quarter. IFG Advisory LLC now owns 22,702 shares of the basic materials company’s stock worth $254,000 after acquiring an additional 1,296 shares during the last quarter. Finally, Pinnacle Associates Ltd. lifted its stake in shares of Vale by 5.0% in the third quarter. Pinnacle Associates Ltd. now owns 28,754 shares of the basic materials company’s stock worth $336,000 after acquiring an additional 1,375 shares during the period. 21.85% of the stock is currently owned by institutional investors and hedge funds.

Vale Stock Performance

Shares of VALE opened at $9.72 on Monday. The company has a market cap of $43.58 billion, a PE ratio of 4.56, a P/E/G ratio of 0.26 and a beta of 0.94. Vale S.A. has a one year low of $9.64 and a one year high of $16.08. The stock has a 50-day moving average of $10.69 and a 200-day moving average of $10.93. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.91 and a quick ratio of 0.58.

Vale (NYSE:VALE) last announced its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. Vale had a net margin of 22.59% and a return on equity of 21.07%. The business had revenue of $9.55 billion during the quarter, compared to analyst estimates of $9.61 billion. During the same quarter in the previous year, the business posted $0.66 EPS. On average, equities research analysts predict that Vale S.A. will post 2.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. StockNews.com began coverage on shares of Vale in a report on Friday, October 18th. They set a “buy” rating for the company. Morgan Stanley dropped their target price on shares of Vale from $16.00 to $15.50 and set an “overweight” rating on the stock in a report on Thursday, September 19th. JPMorgan Chase & Co. cut their price target on shares of Vale from $16.50 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, September 23rd. Scotiabank dropped their price objective on 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, Wolfe Research cut Vale from a “peer perform” rating to an “underperform” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $15.13.

Vale Company 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.