Cannon Advisors Inc. Purchases New Position in Vale S.A. (NYSE:VALE)

Cannon Advisors Inc. acquired a new position in shares of Vale S.A. (NYSE:VALE) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 26,722 shares of the basic materials company’s stock, valued at approximately $267,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VALE. Vontobel Holding Ltd. purchased a new position in shares of Vale during the first quarter valued at approximately $610,000. J.Safra Asset Management Corp bought a new position in Vale during the 1st quarter valued at $41,000. Ameritas Advisory Services LLC lifted its stake in Vale by 14.4% during the 1st quarter. Ameritas Advisory Services LLC now owns 13,951 shares of the basic materials company’s stock valued at $130,000 after acquiring an additional 1,757 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Vale by 9.6% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 211,697 shares of the basic materials company’s stock worth $2,113,000 after acquiring an additional 18,515 shares during the last quarter. Finally, Surience Private Wealth LLC bought a new stake in shares of Vale in the 1st quarter worth $512,000. 21.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on VALE shares. UBS Group dropped their price target on shares of Vale from $10.50 to $9.00 and set a “neutral” rating on the stock in a research report on Monday, April 28th. Bank of America upgraded shares of Vale from a “neutral” rating to a “buy” rating and increased their price objective for the company from $11.00 to $11.50 in a research note on Thursday, April 10th. Royal Bank Of Canada restated a “sector perform” rating and issued a $11.00 target price (down previously from $12.00) on shares of Vale in a research note on Thursday, April 17th. CICC Research initiated coverage on Vale in a report on Monday, May 12th. They issued an “outperform” rating and a $11.30 target price for the company. Finally, Barclays increased their price target on Vale from $12.75 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $11.79.

Vale Trading Up 4.6%

Shares of VALE stock opened at $10.27 on Thursday. The company has a quick ratio of 0.74, a current ratio of 1.11 and a debt-to-equity ratio of 0.49. The firm has a market cap of $46.62 billion, a P/E ratio of 7.44, a PEG ratio of 0.31 and a beta of 0.77. The company has a 50 day moving average of $9.51 and a 200-day moving average of $9.38. Vale S.A. has a 12-month low of $8.06 and a 12-month high of $12.05.

Vale (NYSE:VALE) last released its earnings results on Thursday, April 24th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). The firm had revenue of $8.12 billion during the quarter, compared to analysts’ expectations of $8.39 billion. Vale had a return on equity of 17.65% and a net margin of 15.54%. Sell-side analysts anticipate that Vale S.A. will post 1.85 earnings per share for the current year.

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.