NINE MASTS CAPITAL Ltd Raises Holdings in Vale S.A. (VALE)
NINE MASTS CAPITAL Ltd boosted its holdings in shares of Vale S.A. (NYSE:VALE) by 201.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,415,425 shares of the basic materials company’s stock after purchasing an additional 1,613,942 shares during the period. Vale makes up 2.5% of NINE MASTS CAPITAL Ltd’s investment portfolio, making the stock its 11th largest holding. NINE MASTS CAPITAL Ltd’s holdings in Vale were worth $21,135,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in VALE. LMR Partners LLP acquired a new stake in shares of Vale in the 1st quarter worth $48,332,000. Acadian Asset Management LLC lifted its stake in shares of Vale by 55.2% in the 2nd quarter. Acadian Asset Management LLC now owns 10,948,983 shares of the basic materials company’s stock worth $95,804,000 after acquiring an additional 3,892,825 shares during the period. Capital Growth Management LP lifted its stake in shares of Vale by 16.7% in the 1st quarter. Capital Growth Management LP now owns 20,250,000 shares of the basic materials company’s stock worth $192,375,000 after acquiring an additional 2,900,000 shares during the period. State of Wisconsin Investment Board lifted its stake in shares of Vale by 108.9% in the 2nd quarter. State of Wisconsin Investment Board now owns 845,815 shares of the basic materials company’s stock worth $7,401,000 after acquiring an additional 441,019 shares during the period. Finally, Nationwide Fund Advisors acquired a new stake in shares of Vale in the 1st quarter worth $3,563,000. Institutional investors own 9.58% of the company’s stock.
Shares of Vale S.A. (VALE) traded up 1.02% during trading on Friday, reaching $10.85. 25,929,896 shares of the company’s stock were exchanged. Vale S.A. has a 52 week low of $5.04 and a 52 week high of $11.72. The company’s 50-day moving average price is $10.46 and its 200 day moving average price is $9.30. The firm has a market capitalization of $55.91 billion, a PE ratio of 15.59 and a beta of 1.56.
Vale (NYSE:VALE) last announced its earnings results on Thursday, July 27th. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. The firm had revenue of $7.24 billion during the quarter. Vale had a net margin of 11.01% and a return on equity of 16.74%. Analysts predict that Vale S.A. will post $1.17 EPS for the current fiscal year.
Several research firms have recently commented on VALE. Deutsche Bank AG restated a “buy” rating and issued a $12.00 target price (down previously from $12.50) on shares of Vale in a research note on Sunday, June 25th. BMO Capital Markets restated a “hold” rating and issued a $10.00 target price on shares of Vale in a research note on Friday, June 2nd. Credit Suisse Group set a $8.00 target price on shares of Vale and gave the stock a “hold” rating in a research note on Sunday, May 28th. HSBC Holdings plc upgraded shares of Vale from a “hold” rating to a “buy” rating and raised their target price for the stock from $8.67 to $8.76 in a research note on Wednesday, May 31st. Finally, Clarkson Capital restated a “neutral” rating on shares of Vale in a research note on Monday, July 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $9.67.
Vale SA is a global producer of iron ore and iron ore pellets, key raw materials for steelmaking, and producer of nickel. The Company also produces copper, metallurgical and thermal coal, potash, phosphates and other fertilizer nutrients, manganese ore, ferroalloys, platinum group metals, gold, silver and cobalt.
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