Vale S.A. (NYSE:VALE) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp grew its stake in shares of Vale S.A. (NYSE:VALE) by 13.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and 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 owned about 0.06% of Vale worth $39,308,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mondrian Investment Partners LTD raised its position in shares of Vale by 1.7% during the 3rd quarter. Mondrian Investment Partners LTD now owns 9,254,277 shares of the basic materials company’s stock worth $124,007,000 after purchasing an additional 150,918 shares during the last quarter. Blue Trust Inc. boosted its position in Vale by 10.2% during the 4th quarter. Blue Trust Inc. now owns 10,097 shares of the basic materials company’s stock worth $160,000 after purchasing an additional 932 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Vale by 49,161.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,440,413 shares of the basic materials company’s stock worth $38,705,000 after buying an additional 2,435,459 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Vale by 4.5% in the 3rd quarter. Van ECK Associates Corp now owns 6,724,828 shares of the basic materials company’s stock worth $90,112,000 after buying an additional 289,495 shares in the last quarter. Finally, Seven Eight Capital LP acquired a new position in Vale in the 3rd quarter worth $290,000. 21.85% of the stock is currently owned by institutional investors and hedge funds.

Vale Stock Down 2.8 %

VALE stock opened at $11.67 on Wednesday. Vale S.A. has a 12 month low of $11.52 and a 12 month high of $16.24. The firm 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. The firm has a 50 day simple moving average of $12.73 and a 200 day simple moving average of $13.80. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.28 and a quick ratio of 0.96.

Vale (NYSE:VALE) last released its earnings results on Thursday, February 22nd. The basic materials company reported $0.56 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.48). Vale had a net margin of 19.10% and a return on equity of 20.00%. The business had revenue of $13.05 billion for the quarter, compared to analyst estimates of $12.95 billion. During the same period in the prior year, the company earned $0.82 earnings per share. Equities research analysts forecast that Vale S.A. will post 2.31 earnings per share for the current fiscal year.

Vale Cuts Dividend

The company 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 dividend yield of 9.7%. Vale’s dividend payout ratio (DPR) is presently 64.48%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on VALE. Bank of America reiterated a “neutral” rating and issued a $13.00 price objective (down previously from $20.00) on shares of Vale in a report on Tuesday, April 9th. StockNews.com began coverage on shares of Vale in a report on Saturday, March 30th. They issued a “buy” rating on the stock. Barclays boosted their price objective on shares of Vale from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday. Royal Bank of Canada restated an “outperform” rating and issued a $19.00 target price on shares of Vale in a research note on Monday, February 12th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Vale from $18.00 to $16.00 and set a “hold” rating on the stock in a research note on Thursday, April 4th. 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’s stock. According to data from MarketBeat.com, Vale presently has an average rating of “Moderate Buy” and an average price target of $16.67.

About Vale

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.