Vale S.A. $VALE Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. reduced its stake in shares of Vale S.A. (NYSE:VALE) by 11.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,163,946 shares of the basic materials company’s stock after selling 1,359,525 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.22% of Vale worth $98,692,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Banque Transatlantique SA acquired a new position in shares of Vale during the first quarter valued at $30,000. GAMMA Investing LLC boosted its stake in Vale by 98.4% during the 2nd quarter. GAMMA Investing LLC now owns 4,075 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 2,021 shares during the period. Thompson Investment Management Inc. acquired a new position in Vale during the 2nd quarter valued at about $46,000. Westend Capital Management LLC bought a new position in Vale in the 2nd quarter worth about $48,000. Finally, Capital Analysts LLC acquired a new stake in shares of Vale in the first quarter valued at approximately $51,000. 21.85% of the stock is owned by institutional investors and hedge funds.

Vale Stock Performance

Shares of NYSE VALE opened at $12.15 on Friday. Vale S.A. has a 1 year low of $8.06 and a 1 year high of $12.40. The firm has a market cap of $55.13 billion, a P/E ratio of 9.87 and a beta of 0.82. The stock has a fifty day moving average price of $11.09 and a two-hundred day moving average price of $10.20. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.85 and a current ratio of 1.22.

Vale (NYSE:VALE) last posted its quarterly earnings data on Thursday, October 30th. The basic materials company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.14. Vale had a return on equity of 18.14% and a net margin of 14.23%.The company had revenue of $10.42 billion for the quarter, compared to the consensus estimate of $10.39 billion. Research analysts forecast that Vale S.A. will post 1.85 EPS for the current fiscal year.

Analyst Ratings Changes

VALE has been the subject of several analyst reports. Barclays boosted their price objective on Vale from $13.70 to $13.80 and gave the stock an “overweight” rating in a research report on Friday, October 10th. Hsbc Global Res upgraded Vale to a “strong-buy” rating in a research report on Friday, October 17th. HSBC increased their price target on Vale from $12.25 to $13.50 and gave the stock a “buy” rating in a research note on Friday, October 17th. JPMorgan Chase & Co. lifted their price objective on shares of Vale from $13.50 to $14.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Finally, Wells Fargo & Company upped their price objective on shares of Vale from $11.00 to $12.00 and gave the stock a “cautious” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Vale has an average rating of “Moderate Buy” and a consensus target price of $12.55.

Vale Company 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.