Barometer Capital Management Inc. Purchases Shares of 97,200 Vale S.A. $VALE

Barometer Capital Management Inc. acquired a new position in shares of Vale S.A. (NYSE:VALE) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 97,200 shares of the basic materials company’s stock, valued at approximately $1,546,000.

Other institutional investors have also added to or reduced their stakes in the company. Cadence Wealth Management LLC increased its holdings in Vale by 6.4% during the 1st quarter. Cadence Wealth Management LLC now owns 46,432 shares of the basic materials company’s stock worth $739,000 after purchasing an additional 2,788 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Vale by 3.8% during the first quarter. PNC Financial Services Group Inc. now owns 30,010 shares of the basic materials company’s stock worth $477,000 after buying an additional 1,097 shares in the last quarter. Amova Asset Management Americas Inc. raised its position in Vale by 6.7% in the 1st quarter. Amova Asset Management Americas Inc. now owns 196,383 shares of the basic materials company’s stock valued at $3,124,000 after buying an additional 12,378 shares during the last quarter. Kapitalo Investimentos Ltda bought a new stake in Vale in the 1st quarter valued at approximately $10,453,000. Finally, Parallel Advisors LLC boosted its position in Vale by 68.8% during the 1st quarter. Parallel Advisors LLC now owns 29,117 shares of the basic materials company’s stock worth $463,000 after acquiring an additional 11,865 shares during the last quarter. 21.85% of the stock is owned by institutional investors.

Vale Stock Up 1.0%

VALE stock opened at $14.24 on Wednesday. The business’s 50 day simple moving average is $15.44 and its 200 day simple moving average is $15.78. 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 $64.66 billion, a PE ratio of 21.26 and a beta of 0.46. The company has a current ratio of 1.24, a quick ratio of 0.79 and a debt-to-equity ratio of 0.48.

Vale (NYSE:VALE) last issued its quarterly earnings data on Tuesday, April 28th. The basic materials company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.08). The company had revenue of $9.26 billion during the quarter, compared to the consensus estimate of $9.53 billion. Vale had a net margin of 7.21% and a return on equity of 21.10%. As a group, research analysts anticipate that Vale S.A. will post 1.98 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Vale from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Thursday, July 9th. JPMorgan Chase & Co. raised 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. Morgan Stanley reiterated an “equal weight” rating and set a $16.50 target price (down from $19.50) on shares of Vale in a report on Wednesday, July 8th. UBS Group increased their price target on Vale from $12.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, March 27th. Finally, Scotiabank lowered their price target on Vale from $19.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.31.

Vale Profile

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.