Vale SA (VALE) Holdings Cut by Bank of Montreal Can

Bank of Montreal Can reduced its stake in shares of Vale SA (NYSE:VALE) by 54.8% in the 1st quarter, HoldingsChannel reports. The fund owned 175,449 shares of the basic materials company’s stock after selling 212,644 shares during the quarter. Bank of Montreal Can’s holdings in Vale were worth $2,291,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Lindbrook Capital LLC acquired a new stake in shares of Vale in the fourth quarter valued at $26,000. Semmax Financial Advisors Inc. acquired a new stake in shares of Vale in the fourth quarter valued at $29,000. Enterprise Financial Services Corp increased its stake in shares of Vale by 338.7% in the first quarter. Enterprise Financial Services Corp now owns 4,124 shares of the basic materials company’s stock valued at $54,000 after buying an additional 3,184 shares in the last quarter. Investors Research Corp acquired a new stake in shares of Vale in the first quarter valued at $72,000. Finally, Bessemer Group Inc. acquired a new stake in shares of Vale in the fourth quarter valued at $124,000. Hedge funds and other institutional investors own 19.23% of the company’s stock.

A number of brokerages have recently weighed in on VALE. ValuEngine lowered Vale from a “hold” rating to a “sell” rating in a research note on Monday, April 1st. Barclays set a $14.00 target price on Vale and gave the company a “buy” rating in a research note on Friday, April 12th. Zacks Investment Research lowered Vale from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. BMO Capital Markets set a $13.00 target price on Vale and gave the company a “hold” rating in a research note on Tuesday. Finally, Bank of America began coverage on Vale in a research note on Tuesday, February 5th. They issued a “neutral” rating and a $13.00 target price for the company. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $13.76.

Vale stock opened at $11.59 on Friday. The stock has a market capitalization of $60.47 billion, a P/E ratio of 6.26 and a beta of 1.10. Vale SA has a 12-month low of $10.89 and a 12-month high of $16.13. The company has a current ratio of 1.21, a quick ratio of 1.19 and a debt-to-equity ratio of 0.37.

Vale (NYSE:VALE) last posted its quarterly earnings results on Wednesday, March 27th. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.11. The business had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $10.67 billion. Vale had a return on equity of 14.51% and a net margin of 10.03%. As a group, equities analysts predict that Vale SA will post 1.85 earnings per share for the current fiscal year.

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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. It operates through Ferrous Minerals, Coal, and Base Metals segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and others ferrous products and services; and provides related logistic services.

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Institutional Ownership by Quarter for Vale (NYSE:VALE)

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