Vale SA (VALE) Short Interest Up 32.4% in October

Vale SA (NYSE:VALE) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 65,917,436 shares, a growth of 32.4% from the October 15th total of 49,777,430 shares. Based on an average daily trading volume, of 28,495,201 shares, the short-interest ratio is currently 2.3 days.

Shares of Vale stock opened at $14.60 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.65 and a debt-to-equity ratio of 0.37. Vale has a 12 month low of $9.53 and a 12 month high of $16.13. The firm has a market cap of $79.93 billion, a P/E ratio of 10.81 and a beta of 1.52.

Vale (NYSE:VALE) last announced its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. Vale had a return on equity of 17.87% and a net margin of 10.70%. The business had revenue of $9.54 billion during the quarter, compared to analysts’ expectations of $8.97 billion. As a group, equities research analysts anticipate that Vale will post 1.42 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of VALE. Acadian Asset Management LLC bought a new position in Vale during the second quarter worth about $257,716,000. Fisher Asset Management LLC lifted its holdings in Vale by 108.7% during the third quarter. Fisher Asset Management LLC now owns 34,121,206 shares of the basic materials company’s stock worth $506,359,000 after acquiring an additional 17,769,298 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Vale by 482.3% during the second quarter. Van ECK Associates Corp now owns 7,342,562 shares of the basic materials company’s stock worth $94,132,000 after acquiring an additional 6,081,542 shares in the last quarter. FIL Ltd lifted its holdings in Vale by 45.5% during the third quarter. FIL Ltd now owns 8,216,693 shares of the basic materials company’s stock worth $121,935,000 after acquiring an additional 2,571,338 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Vale by 90.1% during the second quarter. Russell Investments Group Ltd. now owns 4,910,310 shares of the basic materials company’s stock worth $62,816,000 after acquiring an additional 2,327,520 shares in the last quarter. Hedge funds and other institutional investors own 20.35% of the company’s stock.

Several equities research analysts have recently commented on VALE shares. Jefferies Financial Group raised Vale from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Friday, September 7th. Zacks Investment Research raised Vale from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Wednesday, August 29th. BNP Paribas raised Vale from an “underperform” rating to a “neutral” rating in a research note on Tuesday, September 18th. Royal Bank of Canada cut Vale from a “sector perform” rating to an “underperform” rating and decreased their price objective for the stock from $12.00 to $11.00 in a research note on Monday, September 17th. Finally, UBS Group raised Vale from a “neutral” rating to an “outperform” rating in a research note on Monday, September 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $15.13.

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About Vale

Vale SA, together with its subsidiaries, produces and sells iron ore and iron ore pallets 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, as well as engages in the provision of related railroad, port, and terminal logistics services.

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