Vale S.A. $VALE Position Cut by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd trimmed its stake in Vale S.A. (NYSE:VALE) by 21.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 260,022 shares of the basic materials company’s stock after selling 72,301 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Vale were worth $2,525,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Banque Transatlantique SA bought a new stake in Vale in the first quarter valued at $30,000. GAMMA Investing LLC lifted its stake in Vale by 98.4% in the second quarter. GAMMA Investing LLC now owns 4,075 shares of the basic materials company’s stock valued at $40,000 after buying an additional 2,021 shares during the last quarter. Thompson Investment Management Inc. bought a new stake in Vale in the second quarter valued at $46,000. Westend Capital Management LLC bought a new stake in Vale in the second quarter valued at $48,000. Finally, Capital Analysts LLC bought a new stake in Vale in the first quarter valued at $51,000. 21.85% of the stock is currently owned by institutional investors.

Vale Stock Up 0.7%

VALE opened at $11.92 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.85 and a current ratio of 1.22. The stock’s fifty day moving average is $10.86 and its 200-day moving average is $10.07. Vale S.A. has a one year low of $8.06 and a one year high of $11.94. The company has a market capitalization of $54.08 billion, a PE ratio of 9.69 and a beta of 0.80.

Vale (NYSE:VALE) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.34 by $0.16. Vale had a net margin of 14.23% and a return on equity of 18.14%. The firm had revenue of $8.80 billion for the quarter, compared to analysts’ expectations of $9.54 billion. On average, equities analysts predict that Vale S.A. will post 1.85 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on VALE shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Vale in a research note on Wednesday, October 8th. Hsbc Global Res raised Vale to a “strong-buy” rating in a report on Friday, October 17th. Barclays raised their price target on Vale from $13.70 to $13.80 and gave the company an “overweight” rating in a report on Friday, October 10th. JPMorgan Chase & Co. raised their price target on Vale from $13.50 to $14.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Finally, HSBC raised their price target on Vale from $12.25 to $13.50 and gave the company a “buy” rating in a report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $12.13.

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. 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.