Capital Research & Management Co recently announced the acquisition of new stake in Vale S.A. ADR (NYSE:VALE). The institutional investor has increased its shareholding in the Basic Materials company by 11.18% to 80.46 million shares with purchase of 8.09 million shares. This fresh investment now brings its stake to 1.77% valued currently at $1.21 billion. In addition, Goldman Sachs International raised its holdings by 1.74 million to 44.62 million shares. And Fisher Asset Management LLC has lifted its position by 0.28% or 51464.0 shares – to 18.13 million shares.
With over 13.92 million Vale S.A. ADR (VALE) shares trading Friday and a closing price of $15.30 on the day, the dollar volume was approximately $213.03 million. The shares have shown a positive half year performance of 18.78% and its price on 01/05/24 lost nearly -0.84%. Currently, there are 4.48B common shares owned by the public and among those 4.30B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 23 analysts who have offered their price forecasts for VALE have a consensus price objective of $87.50. The analysts have set the share’s price value over the next 12 months at a high of $95.00 and a low of $73.00. The average price target is 12.77% above its recent price level and an upside to the estimated low will see the stock gain 79.04% over that period. But an upside of 83.89% will see the stock hit the forecast high price target while median target price for the stock is $91.00.
The top 3 mutual fund holders in Vale S.A. ADR are American Funds Capital World Grow, American Funds New Perspective Fu, and Vanguard Institutional Total Intl. American Funds Capital World Grow owns 38.24 million shares of the company’s stock, all valued at over $573.55 million. The company sold -6.44 million shares recently to bring their total holdings to about 0.84% of the shares outstanding. Vanguard Institutional Total Intl bought 23.89 million shares to bring its total holdings to over 23.89 million shares at a value of $358.36 million. Vanguard Institutional Total Intl now owns shares totaling to 0.53% of the shares outstanding.
Shares of Vale S.A. ADR (NYSE: VALE) opened at $15.26, down -$0.17 from a prior closing price of $15.43. However, the script later moved the day high at 15.40, down -0.84%. The company’s stock has a 5-day price change of -3.71% and 20.90% over the past three months. VALE shares are trading -3.53% year to date (YTD), with the 12-month market performance down to -3.83% lower. It has a 12-month low price of $12.03 and touched a high of $18.56 over the same period. VALE has an average intraday trading volume of 20.64 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 -0.03%, 3.48%, and 10.89% respectively.
Institutional ownership of Vale S.A. ADR (NYSE: VALE) shares accounts for 17.50% of the company’s 4.48B shares outstanding. Mutual fund holders own 7.30%, while other institutional holders and individual stakeholders account for 9.34% and — respectively.
It has a market capitalization of $65.83B and a beta (3y monthly) value of 1.01. The stock’s trailing 12-month PE ratio is 7.27, while the earnings-per-share (ttm) stands at $2.10. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.56% over the week and 1.41% over the month.
Analysts forecast that Vale S.A. ADR (VALE) will achieve an EPS of $0.8 for the current quarter, $0.57 for the next quarter and $2.52 for 2024. The lowest estimate earnings-per-share for the quarter is $0.66 while analysts give the company a high EPS estimate of $0.96. Comparatively, EPS for the current quarter was $0.82 a year ago. Earnings per share for the fiscal year are expected to decrease by -45.32%, and 15.29% over the next financial year. EPS should shrink at an annualized rate of -12.46% over the next five years, compared to 30.41% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 23 brokerage firm advisors rate Vale S.A. ADR (VALE) as a “Strong Buy” at a consensus score of 1.78. Specifically, 14 Wall Street analysts polled rate the stock as a buy, while 6 of the 23 advise that investors “hold,” and 1 rated it as a “Sell.”
