Pacific Heights Asset Management LLC increased its position in shares of Vale SA (NASDAQ:VALE) by 25.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 750,000 shares of the company’s stock after buying an additional 150,000 shares during the period. Pacific Heights Asset Management LLC’s holdings in Vale SA were worth $3,795,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the stock. RNC Capital Management LLC acquired a new position in shares of Vale SA during the second quarter worth about $142,000. CIBC World Markets Inc. boosted its position in shares of Vale SA by 0.3% in the second quarter. CIBC World Markets Inc. now owns 606,414 shares of the company’s stock worth $3,068,000 after buying an additional 1,923 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Vale SA during the second quarter worth about $4,433,000. Finally, American Century Companies Inc. acquired a new position in shares of Vale SA during the second quarter worth about $9,768,000.
Vale SA (NASDAQ:VALE) traded down 3.71% on Tuesday, hitting $5.45. 22,739,359 shares of the stock traded hands. The company’s market capitalization is $28.09 billion. Vale SA has a 12 month low of $2.13 and a 12 month high of $6.26. The firm has a 50-day moving average price of $5.50 and a 200-day moving average price of $5.03.
A number of brokerages recently issued reports on VALE. Barclays PLC raised shares of Vale SA from an “underweight” rating to an “equal weight” rating and set a $5.11 price target for the company in a research report on Wednesday, September 21st. Royal Bank Of Canada lifted their target price on shares of Vale SA from $5.50 to $6.00 and gave the stock a “sector perform” rating in a report on Thursday, September 8th. Morgan Stanley raised shares of Vale SA from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $4.80 to $6.20 in a report on Tuesday, August 9th. Goldman Sachs Group Inc. initiated coverage on shares of Vale SA in a report on Thursday, June 9th. They issued a “neutral” rating and a $4.40 target price for the company. Finally, Wedbush reaffirmed an “outperform” rating on shares of Vale SA in a report on Thursday, June 9th. Seven analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $5.77.
About Vale SA
Vale SA (Vale) is a metals and mining company. The Company is also a producer of iron ore and iron ore pellets, and nickel. The Company’s segments include Ferrous minerals, Coal, Base metals, Fertilizers and Others. Its Ferrous minerals segment consists of the production and extraction of ferrous minerals, as iron ore, pellets and its logistic services, manganese and ferroalloys, and other ferrous products and services.
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