Vale SA (VALE) Short Interest Update

Vale SA (NYSE:VALE) saw a large drop in short interest in March. As of March 29th, there was short interest totalling 87,173,870 shares, a drop of 7.0% from the March 15th total of 93,709,827 shares. Currently, 1.6% of the shares of the stock are short sold. Based on an average daily volume of 23,444,221 shares, the short-interest ratio is currently 3.7 days.

Shares of NYSE:VALE opened at $13.12 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.45 and a quick ratio of 1.15. The stock has a market cap of $68,246.88, a P/E ratio of 9.72 and a beta of 1.64. Vale has a 12-month low of $7.47 and a 12-month high of $14.67.

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Vale (NYSE:VALE) last issued its quarterly earnings data on Tuesday, February 27th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.13. The firm had revenue of $9.17 billion during the quarter. Vale had a return on equity of 16.63% and a net margin of 16.21%. sell-side analysts forecast that Vale will post 1.48 EPS for the current year.

Large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its position in shares of Vale by 247,063.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,651,050 shares of the basic materials company’s stock worth $20,192,000 after purchasing an additional 1,650,382 shares during the last quarter. Pinnacle Associates Ltd. acquired a new stake in shares of Vale during the 4th quarter worth about $1,941,000. BT Investment Management Ltd increased its position in shares of Vale by 6.6% during the 4th quarter. BT Investment Management Ltd now owns 1,694,251 shares of the basic materials company’s stock worth $20,721,000 after purchasing an additional 105,548 shares during the last quarter. Aperio Group LLC increased its position in shares of Vale by 11.3% during the 4th quarter. Aperio Group LLC now owns 323,421 shares of the basic materials company’s stock worth $3,955,000 after purchasing an additional 32,715 shares during the last quarter. Finally, Advisory Services Network LLC increased its position in shares of Vale by 281.9% during the 4th quarter. Advisory Services Network LLC now owns 20,781 shares of the basic materials company’s stock worth $250,000 after purchasing an additional 15,340 shares during the last quarter. 19.08% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on VALE shares. Zacks Investment Research upgraded Vale from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a report on Monday, February 19th. Barclays set a $15.00 target price on Vale and gave the stock a “buy” rating in a research note on Monday, January 8th. Deutsche Bank downgraded Vale from a “buy” rating to a “hold” rating and raised their target price for the stock from $12.00 to $12.50 in a research note on Tuesday, January 16th. Credit Suisse Group reaffirmed a “buy” rating and issued a $16.00 target price on shares of Vale in a research note on Friday, March 2nd. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $14.00 target price on shares of Vale in a research note on Thursday, February 15th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $13.54.

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About Vale

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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