Connor Clark & Lunn Investment Management Ltd. Grows Stake in Vale S.A. $VALE

by · The Markets Daily

Connor Clark & Lunn Investment Management Ltd. lifted its position in Vale S.A. (NYSE:VALE – Free Report) by 29.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,177,654 shares of the basic materials company’s stock after purchasing an additional 3,013,708 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Vale were worth $143,109,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. bought a new position in Vale in the 3rd quarter worth about $20,754,000. Advisory Resource Group bought a new stake in shares of Vale during the 3rd quarter valued at about $1,434,000. Ninety One North America Inc. grew its holdings in shares of Vale by 35.6% during the third quarter. Ninety One North America Inc. now owns 3,377,582 shares of the basic materials company’s stock worth $36,681,000 after purchasing an additional 886,214 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of Vale by 5.3% during the second quarter. Lazard Asset Management LLC now owns 20,080,222 shares of the basic materials company’s stock worth $194,978,000 after purchasing an additional 1,002,588 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC increased its position in shares of Vale by 493.9% in the third quarter. Campbell & CO Investment Adviser LLC now owns 308,126 shares of the basic materials company’s stock worth $3,346,000 after purchasing an additional 256,244 shares during the last quarter. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on VALE. Scotiabank reaffirmed a “sector perform” rating and issued a $16.50 target price on shares of Vale in a research note on Monday, February 9th. Royal Bank Of Canada raised shares of Vale from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $11.00 to $14.20 in a report on Wednesday, December 10th. Barclays raised their price objective on shares of Vale from $15.50 to $16.50 and gave the company an “overweight” rating in a research report on Monday, March 2nd. Wall Street Zen downgraded shares of Vale from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Finally, Wells Fargo & Company reissued a “cautious” rating and issued a $15.50 target price on shares of Vale in a research note on Monday, February 16th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Vale presently has a consensus rating of “Moderate Buy” and an average target price of $14.46.

Read Our Latest Research Report on Vale

Vale Stock Performance

Shares of VALE stock opened at $15.35 on Thursday. Vale S.A. has a fifty-two week low of $8.06 and a fifty-two week high of $17.72. The company has a current ratio of 1.15, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53. The stock has a 50 day moving average price of $15.75 and a two-hundred day moving average price of $13.12.

Vale (NYSE:VALE – Get Free Report) last issued its earnings results on Thursday, February 12th. The basic materials company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($1.42). Vale had a return on equity of 20.16% and a net margin of 6.12%. As a group, research analysts forecast that Vale S.A. will post 1.85 earnings per share for the current year.

Vale Profile

(Free Report)

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.

Further Reading

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