Vale SA (NYSE:VALE) Short Interest Update

Vale SA (NYSE:VALE) was the target of a large decline in short interest during the month of December. As of December 29th, there was short interest totalling 82,749,486 shares, a decline of 6.5% from the December 15th total of 88,470,660 shares. Based on an average daily volume of 17,456,703 shares, the days-to-cover ratio is presently 4.7 days.

Several analysts have weighed in on VALE shares. Zacks Investment Research upgraded Vale from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Wednesday, October 18th. Cowen set a $11.00 price target on Vale and gave the company a “hold” rating in a research note on Thursday, October 19th. Goldman Sachs Group reiterated a “neutral” rating on shares of Vale in a research note on Monday, October 23rd. TheStreet upgraded Vale from a “c+” rating to a “b-” rating in a research note on Wednesday, November 8th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $11.00 price objective on shares of Vale in a report on Wednesday, November 15th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Vale currently has an average rating of “Buy” and a consensus price target of $11.79.

Vale (NYSE VALE) traded up $0.55 during midday trading on Friday, reaching $12.91. The company had a trading volume of 47,710,000 shares, compared to its average volume of 27,250,000. The firm has a market cap of $67,380.00, a PE ratio of 10.09, a price-to-earnings-growth ratio of 0.85 and a beta of 1.67. Vale has a 12 month low of $7.47 and a 12 month high of $13.57. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.52.

The firm also recently declared a None dividend, which will be paid on Thursday, March 22nd. Investors of record on Tuesday, December 26th will be issued a $0.098 dividend. The ex-dividend date is Friday, December 22nd. Vale’s payout ratio is 26.56%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VALE. Investment Centers of America Inc. increased its stake in Vale by 1.9% during the 2nd quarter. Investment Centers of America Inc. now owns 40,089 shares of the basic materials company’s stock worth $351,000 after buying an additional 748 shares in the last quarter. Raymond James Trust N.A. increased its stake in Vale by 8.4% during the 2nd quarter. Raymond James Trust N.A. now owns 11,560 shares of the basic materials company’s stock worth $101,000 after buying an additional 893 shares in the last quarter. Candriam Luxembourg S.C.A. increased its stake in Vale by 43.1% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 20,335 shares of the basic materials company’s stock worth $249,000 after buying an additional 6,126 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in Vale by 49.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 25,592 shares of the basic materials company’s stock worth $312,000 after buying an additional 8,517 shares in the last quarter. Finally, Todd Asset Management LLC increased its stake in Vale by 2.8% during the 3rd quarter. Todd Asset Management LLC now owns 337,600 shares of the basic materials company’s stock worth $3,400,000 after buying an additional 9,100 shares in the last quarter. 19.03% of the stock is owned by institutional investors.

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Vale Company Profile

Vale SA is a global producer of iron ore and iron ore pellets, key raw materials for steelmaking, and producer of nickel. The Company also produces copper, metallurgical and thermal coal, potash, phosphates and other fertilizer nutrients, manganese ore, ferroalloys, platinum group metals, gold, silver and cobalt.

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