Oppenheimer & Co. Inc. Invests $153,000 in Vale S.A. (NYSE:VALE)

Oppenheimer & Co. Inc. acquired a new position in shares of Vale S.A. (NYSE:VALEGet Rating) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 10,478 shares of the basic materials company’s stock, valued at approximately $153,000.

Several other large investors also recently modified their holdings of VALE. Bourgeon Capital Management LLC grew its holdings in Vale by 18,750.0% in the first quarter. Bourgeon Capital Management LLC now owns 1,508 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 1,500 shares during the period. Vigilant Capital Management LLC acquired a new stake in Vale in the second quarter worth $25,000. JFS Wealth Advisors LLC grew its holdings in Vale by 319.3% in the first quarter. JFS Wealth Advisors LLC now owns 2,059 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 1,568 shares during the period. Sumitomo Mitsui Financial Group Inc. acquired a new stake in Vale in the first quarter worth $44,000. Finally, Allworth Financial LP grew its holdings in Vale by 97.0% in the second quarter. Allworth Financial LP now owns 2,462 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 1,212 shares during the period. 19.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Itau BBA Securities cut shares of Vale from an “outperform” rating to a “market perform” rating and set a $15.00 price target for the company. in a report on Wednesday, August 17th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Vale from $20.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday, October 5th. Itaú Unibanco lowered shares of Vale to a “market perform” rating and set a $15.00 price objective on the stock. in a research note on Wednesday, August 17th. StockNews.com initiated coverage on shares of Vale in a research note on Thursday, October 27th. They issued a “buy” rating on the stock. Finally, Royal Bank of Canada raised shares of Vale from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $15.00 to $16.00 in a research note on Monday, September 12th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $17.41.

Vale Stock Down 1.7 %

VALE opened at $15.07 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.07 and a quick ratio of 0.67. The company’s 50-day moving average is $13.76 and its 200 day moving average is $14.29. Vale S.A. has a fifty-two week low of $11.42 and a fifty-two week high of $21.29. The firm has a market capitalization of $69.19 billion, a P/E ratio of 3.50, a PEG ratio of 1.41 and a beta of 0.81.

Vale (NYSE:VALEGet Rating) last announced its quarterly earnings data on Thursday, October 27th. The basic materials company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.60 by $0.38. The business had revenue of $9.93 billion for the quarter, compared to analyst estimates of $10.13 billion. Vale had a net margin of 45.53% and a return on equity of 53.54%. Research analysts expect that Vale S.A. will post 2.94 earnings per share for the current fiscal year.

About Vale

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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 Ferrous Minerals and Base Metals segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and other ferrous products; and provides related logistic services.

See Also

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Institutional Ownership by Quarter for Vale (NYSE:VALE)

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