OMERS ADMINISTRATION Corp Acquires New Position in Vale S.A. $VALE

OMERS ADMINISTRATION Corp bought a new position in Vale S.A. (NYSE:VALE) in the first quarter, according to its most recent filing with the SEC. The firm bought 8,060,262 shares of the basic materials company’s stock, valued at approximately $128,239,000.

A number of other hedge funds have also bought and sold shares of the stock. Capital World Investors raised its holdings in shares of Vale by 58.2% in the fourth quarter. Capital World Investors now owns 89,322,261 shares of the basic materials company’s stock worth $1,163,896,000 after buying an additional 32,864,929 shares during the last quarter. GQG Partners LLC lifted its stake in shares of Vale by 42.4% during the fourth quarter. GQG Partners LLC now owns 65,132,572 shares of the basic materials company’s stock worth $848,677,000 after buying an additional 19,397,396 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of Vale by 15.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 47,947,703 shares of the basic materials company’s stock valued at $762,848,000 after buying an additional 6,351,703 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Vale by 16.7% during the third quarter. Invesco Ltd. now owns 28,961,848 shares of the basic materials company’s stock valued at $314,526,000 after buying an additional 4,151,563 shares during the last quarter. Finally, Lazard Asset Management LLC increased its position in shares of Vale by 0.9% in the 4th quarter. Lazard Asset Management LLC now owns 22,480,635 shares of the basic materials company’s stock valued at $292,923,000 after acquiring an additional 208,128 shares during the period. Institutional investors and hedge funds own 21.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $18.00 target price on shares of Vale in a research note on Friday, May 15th. JPMorgan Chase & Co. increased their price objective on Vale from $19.50 to $21.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Wall Street Zen cut Vale from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Wells Fargo & Company reduced their price objective on Vale from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Thursday, July 9th. Finally, Bank of America raised Vale from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $18.00 to $19.00 in a report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.31.

Vale Stock Down 0.2%

NYSE:VALE opened at $14.79 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.24 and a quick ratio of 0.79. The company’s fifty day moving average price is $15.34 and its 200-day moving average price is $15.80. Vale S.A. has a 1-year low of $9.36 and a 1-year high of $17.94. The firm has a market capitalization of $67.15 billion, a P/E ratio of 22.08 and a beta of 0.46.

Vale (NYSE:VALE) last posted its earnings results on Tuesday, April 28th. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.08). Vale had a net margin of 7.21% and a return on equity of 21.10%. The business had revenue of $9.26 billion for the quarter, compared to analyst estimates of $9.53 billion. As a group, equities research analysts anticipate that Vale S.A. will post 1.91 EPS for the current year.

About Vale

Vale SA is a Brazilian multinational mining company and one of the world’s largest producers of iron ore and iron ore pellets. In addition to iron ore, the company produces and sells a range of bulk commodities and metals, including nickel, copper, coal, manganese, ferroalloys and cobalt, and it participates in the fertilizer inputs market. Vale also operates extensive logistics assets — including rail, port and maritime logistics — that support its mining and export activities and provide services to third parties in some regions.

Headquartered in Brazil, Vale maintains a global operational footprint with mining, processing and shipping activities across the Americas, Africa, Asia and Oceania.