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

Bank of Montreal Can boosted its holdings in Vale S.A. (NYSE:VALE) by 274.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 162,453 shares of the basic materials company’s stock after acquiring an additional 119,061 shares during the period. Bank of Montreal Can’s holdings in Vale were worth $1,915,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Phillips Wealth Planners LLC bought a new stake in shares of Vale in the third quarter worth $118,000. Vawter Financial Ltd. bought a new stake in Vale during the second quarter valued at approximately $124,000. Signature Estate & Investment Advisors LLC purchased a new stake in Vale during the second quarter valued at approximately $125,000. Keynote Financial Services LLC raised its position in Vale by 13.5% in the third quarter. Keynote Financial Services LLC now owns 11,737 shares of the basic materials company’s stock worth $137,000 after acquiring an additional 1,400 shares during the period. Finally, Summit Financial LLC grew its position in shares of Vale by 14.9% during the 2nd quarter. Summit Financial LLC now owns 12,529 shares of the basic materials company’s stock valued at $140,000 after acquiring an additional 1,624 shares during the period. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Vale Trading Up 1.3 %

Shares of VALE stock opened at $9.63 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.58 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $43.17 billion, a price-to-earnings ratio of 4.46, a price-to-earnings-growth ratio of 0.26 and a beta of 0.91. Vale S.A. has a 12-month low of $9.42 and a 12-month high of $16.08. The stock’s 50-day moving average price is $10.57 and its 200-day moving average price is $10.86.

Vale (NYSE:VALE) last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.15. Vale had a return on equity of 21.07% and a net margin of 22.59%. The business had revenue of $9.55 billion for the quarter, compared to analysts’ expectations of $9.61 billion. During the same period in the prior year, the firm earned $0.66 EPS. Equities research analysts predict that Vale S.A. will post 2.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

VALE has been the topic of several analyst reports. Scotiabank lowered their target price on Vale from $16.00 to $14.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 20th. UBS Group cut shares of Vale from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $14.00 to $11.50 in a research note on Monday, November 11th. Wolfe Research cut shares of Vale from a “peer perform” rating to an “underperform” rating in a research note on Wednesday, October 9th. Barclays lowered their target price on shares of Vale from $16.00 to $15.25 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, StockNews.com started coverage on Vale in a report on Friday, October 18th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $14.91.

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.