Vale S.A. (NYSE:VALE) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Vale S.A. (NYSE:VALE) by 6.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,951,020 shares of the basic materials company’s stock after acquiring an additional 468,432 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.18% of Vale worth $92,868,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of VALE. Ballentine Partners LLC lifted its position in Vale by 7.8% during the third quarter. Ballentine Partners LLC now owns 13,627 shares of the basic materials company’s stock valued at $159,000 after buying an additional 987 shares in the last quarter. Legacy Capital Group California Inc. boosted its position in Vale by 6.9% during the 2nd quarter. Legacy Capital Group California Inc. now owns 17,932 shares of the basic materials company’s stock worth $200,000 after purchasing an additional 1,154 shares during the period. Bank of New York Mellon Corp increased its holdings in Vale by 1.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 62,076 shares of the basic materials company’s stock valued at $693,000 after purchasing an additional 1,187 shares in the last quarter. IFG Advisory LLC raised its position in Vale by 6.1% in the second quarter. IFG Advisory LLC now owns 22,702 shares of the basic materials company’s stock valued at $254,000 after purchasing an additional 1,296 shares during the period. Finally, Pinnacle Associates Ltd. lifted its stake in shares of Vale by 5.0% during the third quarter. Pinnacle Associates Ltd. now owns 28,754 shares of the basic materials company’s stock worth $336,000 after purchasing an additional 1,375 shares in the last quarter. 21.85% of the stock is owned by institutional investors and hedge funds.

Vale Trading Down 0.2 %

Shares of NYSE VALE opened at $10.01 on Wednesday. The company has a quick ratio of 0.58, a current ratio of 0.91 and a debt-to-equity ratio of 0.39. The stock’s 50 day moving average price is $10.78 and its two-hundred day moving average price is $11.07. Vale S.A. has a 52-week low of $9.66 and a 52-week high of $16.08. The stock has a market capitalization of $44.88 billion, a P/E ratio of 4.63, a PEG ratio of 0.26 and a beta of 0.94.

Vale (NYSE:VALE) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.15. Vale had a net margin of 22.59% and a return on equity of 21.07%. The firm had revenue of $9.55 billion for the quarter, compared to analyst estimates of $9.61 billion. During the same quarter in the prior year, the business earned $0.66 earnings per share. On average, analysts anticipate that Vale S.A. will post 2.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wolfe Research downgraded Vale from a “peer perform” rating to an “underperform” rating in a report on Wednesday, October 9th. Scotiabank decreased their target price on shares of Vale from $17.00 to $16.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 15th. UBS Group downgraded shares of Vale from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $14.00 to $11.50 in a research note on Monday, November 11th. StockNews.com began coverage on shares of Vale in a research report on Friday, October 18th. They issued a “buy” rating for the company. Finally, Morgan Stanley cut their price target on Vale from $16.00 to $15.50 and set an “overweight” rating on the stock in a research note on Thursday, September 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $15.83.

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.