Short Interest in Vale SA (NYSE:VALE) Rises By 40.5%

Vale SA (NYSE:VALE) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 42,880,000 shares, a growth of 40.5% from the June 30th total of 30,530,000 shares. Based on an average trading volume of 27,830,000 shares, the days-to-cover ratio is currently 1.5 days. Approximately 0.8% of the shares of the company are short sold.

NYSE:VALE opened at $11.64 on Friday. The stock has a 50 day moving average of $10.84 and a two-hundred day moving average of $10.07. Vale has a 12 month low of $6.49 and a 12 month high of $13.67. The firm has a market cap of $59.69 billion, a P/E ratio of 9.39 and a beta of 1.06. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.53.

VALE has been the topic of a number of analyst reports. Zacks Investment Research cut shares of Vale from a “strong-buy” rating to a “hold” rating and set a $13.00 price objective on the stock. in a research note on Wednesday. Deutsche Bank raised their price target on shares of Vale from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Royal Bank of Canada decreased their price objective on shares of Vale from $16.30 to $16.00 and set an “outperform” rating for the company in a research report on Tuesday, July 28th. UBS Group raised shares of Vale from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $13.00 to $12.00 in a research note on Wednesday, June 3rd. Finally, Exane BNP Paribas upgraded Vale from a “neutral” rating to an “outperform” rating in a research note on Friday, June 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $13.73.

Several large investors have recently modified their holdings of the company. First Trust Advisors LP lifted its holdings in Vale by 12.9% in the 1st quarter. First Trust Advisors LP now owns 129,487 shares of the basic materials company’s stock valued at $1,691,000 after purchasing an additional 14,768 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its stake in shares of Vale by 22.1% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 518,394 shares of the basic materials company’s stock worth $6,769,000 after buying an additional 93,900 shares in the last quarter. Stifel Financial Corp boosted its position in Vale by 22.5% during the fourth quarter. Stifel Financial Corp now owns 13,875 shares of the basic materials company’s stock worth $183,000 after acquiring an additional 2,549 shares during the last quarter. Alliancebernstein L.P. grew its stake in Vale by 1.4% during the 4th quarter. Alliancebernstein L.P. now owns 637,235 shares of the basic materials company’s stock valued at $8,412,000 after acquiring an additional 8,498 shares in the last quarter. Finally, Nuveen Asset Management LLC acquired a new stake in Vale in the 4th quarter valued at about $3,267,000. 17.27% of the stock is currently owned by hedge funds and other institutional investors.

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

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