Vale S.A. (NYSE:VALE) Shares Sold by National Bank of Canada FI

National Bank of Canada FI cut its holdings in Vale S.A. (NYSE:VALE) by 94.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,886 shares of the basic materials company’s stock after selling 1,486,756 shares during the quarter. National Bank of Canada FI’s holdings in Vale were worth $1,038,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Vale during the 3rd quarter worth $28,000. Point72 Hong Kong Ltd purchased a new stake in Vale during the third quarter worth about $36,000. Vienna Asset Management LLC acquired a new position in Vale during the third quarter worth about $117,000. Phillips Wealth Planners LLC purchased a new position in Vale in the third quarter valued at about $118,000. Finally, Vawter Financial Ltd. purchased a new position in Vale in the second quarter valued at about $124,000. Institutional investors and hedge funds own 21.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on VALE. Morgan Stanley cut Vale from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $14.50 to $11.30 in a report on Thursday. Barclays lowered their target price on Vale from $16.00 to $15.25 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. UBS Group lowered shares of Vale from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $14.00 to $11.50 in a research report on Monday, November 11th. Scotiabank dropped their target price on shares of Vale from $16.00 to $14.00 and set a “sector perform” rating for the company in a report on Wednesday, November 20th. Finally, Wolfe Research downgraded shares of Vale from a “peer perform” rating to an “underperform” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $14.38.

Vale Price Performance

Vale stock opened at $9.26 on Friday. The firm’s 50-day moving average is $10.33 and its two-hundred day moving average is $10.72. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.91 and a quick ratio of 0.58. The stock has a market capitalization of $41.51 billion, a P/E ratio of 4.29, a P/E/G ratio of 0.27 and a beta of 0.91. Vale S.A. has a 12-month low of $9.22 and a 12-month high of $16.08.

Vale (NYSE:VALE) last released its earnings results on Thursday, October 24th. The basic materials company reported $0.56 EPS 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 during the quarter, compared to analysts’ expectations of $9.61 billion. During the same period in the previous year, the company earned $0.66 EPS. Equities analysts predict that Vale S.A. will post 2.08 earnings per share for the current year.

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.