Mackenzie Financial Corp Has $39.31 Million Position in Vale S.A. (NYSE:VALE)

Mackenzie Financial Corp lifted its stake in shares of Vale S.A. (NYSE:VALEFree Report) by 13.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,478,437 shares of the basic materials company’s stock after acquiring an additional 303,254 shares during the period. Mackenzie Financial Corp’s holdings in Vale were worth $39,308,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Sunbelt Securities Inc. bought a new stake in shares of Vale in the 1st quarter worth $28,000. Systematic Alpha Investments LLC purchased a new stake in shares of Vale in the third quarter worth about $31,000. Whittier Trust Co. raised its stake in Vale by 423.1% in the fourth quarter. Whittier Trust Co. now owns 1,951 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 1,578 shares in the last quarter. AdvisorNet Financial Inc raised its stake in Vale by 44.7% in the third quarter. AdvisorNet Financial Inc now owns 2,702 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 835 shares in the last quarter. Finally, Sound Income Strategies LLC raised its stake in Vale by 2,502.8% in the fourth quarter. Sound Income Strategies LLC now owns 2,837 shares of the basic materials company’s stock valued at $45,000 after purchasing an additional 2,728 shares in the last quarter. Institutional investors and hedge funds own 21.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on VALE. Bank of America reiterated a “neutral” rating and set a $13.00 price target (down from $20.00) on shares of Vale in a research report on Tuesday, April 9th. JPMorgan Chase & Co. dropped their price target on Vale from $20.50 to $20.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Deutsche Bank Aktiengesellschaft lowered their price objective on Vale from $18.00 to $16.00 and set a “hold” rating for the company in a research report on Thursday, April 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $19.00 price target on shares of Vale in a research report on Monday, February 12th. Finally, StockNews.com assumed coverage on Vale in a research note on Saturday, March 30th. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.67.

Get Our Latest Analysis on Vale

Vale Stock Down 2.8 %

NYSE VALE opened at $11.67 on Wednesday. The stock’s 50 day moving average is $12.73 and its 200 day moving average is $13.80. The company has a current ratio of 1.28, a quick ratio of 0.96 and a debt-to-equity ratio of 0.38. Vale S.A. has a 12 month low of $11.52 and a 12 month high of $16.24. The stock has a market cap of $52.30 billion, a PE ratio of 6.37, a P/E/G ratio of 3.38 and a beta of 0.97.

Vale (NYSE:VALEGet Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.48). The business had revenue of $13.05 billion during the quarter, compared to analysts’ expectations of $12.95 billion. Vale had a return on equity of 20.00% and a net margin of 19.10%. During the same period in the prior year, the firm posted $0.82 earnings per share. Research analysts predict that Vale S.A. will post 2.31 EPS for the current fiscal year.

Vale Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 13th were given a $0.3182 dividend. The ex-dividend date was Tuesday, March 12th. This represents a yield of 9.7%. Vale’s dividend payout ratio is presently 64.48%.

Vale Profile

(Free Report)

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. The company operates through Iron Solutions and Energy Transition Materials segments. The Iron Solutions segment produces and extracts iron ore and pellets, manganese, and other ferrous products; and provides related logistic services.

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Institutional Ownership by Quarter for Vale (NYSE:VALE)

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