Short Interest in Vale SA (NYSE:VALE) Rises By 30.6%

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Vale SA (NYSE:VALE) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 28,244,300 shares, a growth of 30.6% from the July 31st total of 21,630,400 shares. Based on an average daily volume of 19,810,000 shares, the short-interest ratio is currently 1.4 days. Approximately 0.6% of the company’s shares are short sold.

A number of large investors have recently modified their holdings of VALE. Renaissance Technologies LLC raised its holdings in Vale by 45.9% in the 2nd quarter. Renaissance Technologies LLC now owns 39,881,949 shares of the basic materials company’s stock valued at $536,013,000 after acquiring an additional 12,549,400 shares during the period. Invesco Ltd. lifted its stake in Vale by 1,751.5% in the 2nd quarter. Invesco Ltd. now owns 36,322,803 shares of the basic materials company’s stock valued at $488,178,000 after purchasing an additional 34,361,002 shares during the last quarter. FMR LLC lifted its stake in Vale by 4.8% in the 1st quarter. FMR LLC now owns 19,295,751 shares of the basic materials company’s stock valued at $252,003,000 after purchasing an additional 876,702 shares during the last quarter. Baillie Gifford & Co. lifted its stake in Vale by 72.3% in the 2nd quarter. Baillie Gifford & Co. now owns 18,183,800 shares of the basic materials company’s stock valued at $244,390,000 after purchasing an additional 7,630,100 shares during the last quarter. Finally, FIL Ltd lifted its stake in Vale by 145.9% in the 1st quarter. FIL Ltd now owns 17,602,739 shares of the basic materials company’s stock valued at $229,892,000 after purchasing an additional 10,443,564 shares during the last quarter. 18.89% of the stock is currently owned by hedge funds and other institutional investors.

NYSE VALE traded down $0.02 on Friday, reaching $12.15. The company had a trading volume of 24,857,393 shares, compared to its average volume of 25,444,154. The firm has a market capitalization of $60.15 billion, a price-to-earnings ratio of 6.57, a price-to-earnings-growth ratio of 2.50 and a beta of 1.20. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.87 and a current ratio of 1.24. Vale has a 1-year low of $10.20 and a 1-year high of $16.13. The company’s fifty day moving average is $11.56 and its 200-day moving average is $12.62.

Vale (NYSE:VALE) last announced its earnings results on Thursday, August 1st. The basic materials company reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.34). Vale had a return on equity of 21.11% and a net margin of 9.30%. The company had revenue of $9.19 billion during the quarter, compared to analyst estimates of $9.31 billion. On average, research analysts forecast that Vale will post 1.18 earnings per share for the current year.

Several research firms recently weighed in on VALE. Deutsche Bank set a $15.00 price objective on shares of Vale and gave the stock a “hold” rating in a research report on Thursday, July 11th. TheStreet lowered shares of Vale from a “b-” rating to a “c” rating in a report on Thursday, May 16th. JPMorgan Chase & Co. decreased their price target on shares of Vale from $17.50 to $17.00 and set an “overweight” rating for the company in a report on Monday. Exane BNP Paribas raised shares of Vale from an “underperform” rating to a “neutral” rating in a report on Thursday, September 5th. Finally, Bank of America raised shares of Vale from a “neutral” rating to a “buy” rating and boosted their price target for the company from $14.50 to $15.50 in a report on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $14.37.

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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