Bank of Montreal Can Trims Position in Vale S.A. (NYSE:VALE)

Bank of Montreal Can trimmed its holdings in Vale S.A. (NYSE:VALEGet Rating) by 8.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 702,956 shares of the basic materials company’s stock after selling 63,084 shares during the quarter. Bank of Montreal Can’s holdings in Vale were worth $10,685,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Mackenzie Financial Corp raised its holdings in shares of Vale by 967.1% in the second quarter. Mackenzie Financial Corp now owns 1,619,924 shares of the basic materials company’s stock valued at $23,699,000 after buying an additional 1,468,124 shares during the last quarter. Cerity Partners LLC purchased a new stake in shares of Vale in the second quarter valued at about $341,000. Lazard Asset Management LLC raised its holdings in Vale by 13.0% during the second quarter. Lazard Asset Management LLC now owns 9,951,139 shares of the basic materials company’s stock worth $145,584,000 after purchasing an additional 1,145,009 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Vale by 8.3% during the second quarter. Advisors Asset Management Inc. now owns 200,570 shares of the basic materials company’s stock worth $2,934,000 after purchasing an additional 15,362 shares in the last quarter. Finally, Baird Financial Group Inc. raised its holdings in Vale by 4.6% during the second quarter. Baird Financial Group Inc. now owns 69,479 shares of the basic materials company’s stock worth $1,017,000 after purchasing an additional 3,067 shares in the last quarter. 19.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on VALE. BMO Capital Markets cut their price target on shares of Vale from $20.00 to $16.00 and set an “outperform” rating for the company in a report on Monday, October 31st. StockNews.com began coverage on shares of Vale in a report on Thursday, October 27th. They set a “buy” rating for the company. Royal Bank of Canada raised shares of Vale from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $15.00 to $16.00 in a report on Monday, September 12th. 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. Finally, Itaú Unibanco cut shares of Vale to a “market perform” rating and set a $15.00 price target for the company. in a report on Wednesday, August 17th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Vale currently has an average rating of “Moderate Buy” and a consensus target price of $17.41.

Vale Stock Up 1.5 %

VALE stock opened at $15.12 on Thursday. The company’s 50 day simple moving average is $13.82 and its 200-day simple moving average is $14.26. The firm has a market capitalization of $69.42 billion, a PE ratio of 3.52, a P/E/G ratio of 1.36 and a beta of 0.81. Vale S.A. has a 12 month low of $11.72 and a 12 month high of $21.29. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.07 and a quick ratio of 0.67.

Vale (NYSE:VALEGet Rating) last released its quarterly earnings results on Thursday, October 27th. The basic materials company reported $0.98 EPS for the quarter, beating 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%. Equities analysts expect that Vale S.A. will post 2.97 earnings per share for the current fiscal year.

Vale Company Profile

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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.

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Institutional Ownership by Quarter for Vale (NYSE:VALE)

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