2,571,719 Shares in Vale S.A. (NYSE:VALE) Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. bought a new stake in shares of Vale S.A. (NYSE:VALE) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,571,719 shares of the basic materials company’s stock, valued at approximately $30,038,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. SPX Gestao de Recursos Ltda raised its holdings in shares of Vale by 60.6% during the second 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 purchasing an additional 8,288,112 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Vale by 395.3% during the 2nd quarter. Marshall Wace LLP now owns 7,152,069 shares of the basic materials company’s stock valued at $79,889,000 after buying an additional 5,707,969 shares during the period. Norden Group LLC grew its holdings in shares of Vale by 3,952.2% in the first quarter. Norden Group LLC now owns 3,343,572 shares of the basic materials company’s stock worth $40,758,000 after acquiring an additional 3,261,060 shares during the period. Van ECK Associates Corp increased its position in Vale by 110.9% during the second quarter. Van ECK Associates Corp now owns 5,459,485 shares of the basic materials company’s stock valued at $60,983,000 after acquiring an additional 2,871,094 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Vale by 27.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 11,853,914 shares of the basic materials company’s stock valued at $132,408,000 after acquiring an additional 2,578,900 shares during the period. Institutional investors own 21.85% of the company’s stock.

Vale Trading Up 3.8 %

VALE stock opened at $10.89 on Friday. The company has a market capitalization of $48.80 billion, a price-to-earnings ratio of 6.01, a PEG ratio of 0.30 and a beta of 0.93. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.08 and a quick ratio of 0.73. Vale S.A. has a 1-year low of $9.66 and a 1-year high of $16.08. The business has a 50 day simple moving average of $10.74 and a two-hundred day simple moving average of $11.30.

Vale (NYSE:VALE) last posted its earnings results on Thursday, July 25th. The basic materials company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.05. The company had revenue of $9.92 billion during the quarter, compared to analysts’ expectations of $9.97 billion. Vale had a net margin of 23.07% and a return on equity of 22.23%. Research analysts anticipate that Vale S.A. will post 2.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on VALE. Scotiabank reduced their price target on shares of Vale from $17.00 to $16.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 15th. JPMorgan Chase & Co. cut their price objective on shares of Vale from $16.50 to $15.00 and set an “overweight” rating for the company in a research report on Monday, September 23rd. UBS Group decreased their target price on Vale from $15.00 to $14.50 and set a “buy” rating on the stock in a report on Friday, July 5th. StockNews.com assumed coverage on Vale in a research report on Friday, October 18th. They issued a “buy” rating for the company. Finally, Wolfe Research cut Vale from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.15.

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.