Goldman Sachs International recently announced the acquisition of new stake in Vale S.A. (NYSE:VALE). The institutional investor has increased its shareholding in the Basic Materials company by 122.40% to 43.2 million shares with purchase of 23.77 million shares. This fresh investment now brings its stake to 0.90% valued currently at $558.99 million. In addition, Invesco Advisers, Inc. raised its holdings by 6.18 million to 33.75 million shares. And GQG Partners LLC has lifted its position by 12.14% or 2.32 million shares – to 21.41 million shares.
With over 38.86 million Vale S.A. (VALE) shares trading Friday and a closing price of $15.07 on the day, the dollar volume was approximately $585.59 million. The shares have shown a negative half year performance of -7.92% and its price on 11/18/22 lost nearly -1.70%. Currently, there are 4.55B common shares owned by the public and among those 4.31B shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 25 analysts who have offered their price forecasts for VALE have a consensus price objective of $16.76. The analysts have set the share’s price value over the next 12 months at a high of $22.00 and a low of $12.00. The average price target is 12.33% above its recent price level and a downside to the estimated low will see the stock lose -25.58% over that period. But an upside of 31.5% will see the stock hit the forecast high price target while median target price for the stock is $16.50.
The top 3 mutual fund holders in Vale S.A. are American Funds EuroPacific Growth, American Funds Capital World Grow, and American Funds New Perspective Fu. American Funds EuroPacific Growth owns 64.62 million shares of the company’s stock, all valued at over $836.12 million. The company sold -4.55 million shares recently to bring their total holdings to about 1.35% of the shares outstanding. American Funds New Perspective Fu sold -0.98 million shares to bring its total holdings to over 48.88 million shares at a value of $632.55 million. American Funds New Perspective Fu now owns shares totaling to 1.02% of the shares outstanding.
Shares of Vale S.A. (NYSE: VALE) opened at $15.29, down -$0.04 from a prior closing price of $15.33. However, the script later moved the day high at 15.32, down -1.70%. The company’s stock has a 5-day price change of -2.46% and 18.01% over the past three months. VALE shares are trading 9.81% year to date (YTD), with the 12-month market performance up to 36.60% higher. It has a 12-month low price of $10.92 and touched a high of $20.84 over the same period. VALE has an average intraday trading volume of 43.53 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.06%, 9.73%, and -1.84% respectively.
Institutional ownership of Vale S.A. (NYSE: VALE) shares accounts for 21.40% of the company’s 4.55B shares outstanding. Mutual fund holders own 12.38%, while other institutional holders and individual stakeholders account for 7.76% and — respectively.
It has a market capitalization of $73.23B and a beta (3y monthly) value of 0.84. The stock’s trailing 12-month PE ratio is 3.54, while the earnings-per-share (ttm) stands at $4.25. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.47% over the week and 4.12% over the month.
Analysts forecast that Vale S.A. (VALE) will achieve an EPS of $0.67 for the current quarter, $0.59 for the next quarter and $2.5 for 2023. The lowest estimate earnings-per-share for the quarter is $0.42 while analysts give the company a high EPS estimate of $0.85. Comparatively, EPS for the current quarter was $1.11 a year ago. Earnings per share for the fiscal year are expected to increase by 284.50%, and -29.42% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 25 brokerage firm advisors rate Vale S.A. (VALE) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 12 Wall Street analysts polled rate the stock as a buy, while 10 of the 25 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the VALE, a number of firms have released research notes about the stock. RBC Capital Mkts stated their Outperform rating for the stock in a research note on September 12, 2022, with the firm’s price target at $15-$16. Itau BBA coverage for the Vale S.A. (VALE) stock in a research note released on August 17, 2022 offered a Market Perform rating with a price target of $15. Exane BNP Paribas was of a view on July 13, 2022 that the stock is Neutral, while Jefferies gave the stock Buy rating on June 07, 2022, issuing a price target of $17- $24. Deutsche Bank on their part issued Hold rating on April 05, 2022.