Zurcher Kantonalbank Zurich Cantonalbank Has $542,000 Position in VALE S.A. (VALE)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of VALE S.A. (NYSE:VALE) by 77.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 62,000 shares of the basic materials company’s stock after purchasing an additional 27,000 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in VALE were worth $542,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wedbush Securities Inc. boosted its holdings in shares of VALE by 0.7% in the second quarter. Wedbush Securities Inc. now owns 12,991 shares of the basic materials company’s stock valued at $114,000 after buying an additional 84 shares during the period. TD Asset Management Inc. boosted its holdings in shares of VALE by 1.1% in the second quarter. TD Asset Management Inc. now owns 34,205 shares of the basic materials company’s stock valued at $299,000 after buying an additional 369 shares during the period. IPG Investment Advisors LLC boosted its holdings in shares of VALE by 3.6% in the first quarter. IPG Investment Advisors LLC now owns 34,844 shares of the basic materials company’s stock valued at $331,000 after buying an additional 1,200 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of VALE by 25.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 23,266 shares of the basic materials company’s stock valued at $221,000 after buying an additional 4,736 shares during the period. Finally, Bluestein R H & Co. boosted its holdings in shares of VALE by 7.7% in the first quarter. Bluestein R H & Co. now owns 70,000 shares of the basic materials company’s stock valued at $665,000 after buying an additional 5,000 shares during the period. Hedge funds and other institutional investors own 9.58% of the company’s stock.

Shares of VALE S.A. (NYSE:VALE) opened at 11.29 on Wednesday. VALE S.A. has a 52-week low of $4.86 and a 52-week high of $11.72. The company has a market capitalization of $58.18 billion, a price-to-earnings ratio of 16.27 and a beta of 1.56. The firm’s 50-day moving average is $10.28 and its 200 day moving average is $9.27.

VALE (NYSE:VALE) last posted its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. VALE had a net margin of 11.01% and a return on equity of 16.74%. The business had revenue of $7.24 billion during the quarter. On average, equities research analysts anticipate that VALE S.A. will post $1.09 earnings per share for the current year.

Several research analysts have recently weighed in on the stock. Credit Suisse Group set a $8.00 price target on shares of VALE and gave the company a “hold” rating in a report on Sunday, May 28th. Sandler O’Neill upgraded shares of VALE from a “hold” rating to a “buy” rating in a report on Wednesday. Jefferies Group LLC set a $8.00 price target on shares of VALE and gave the company a “hold” rating in a report on Thursday, June 8th. TheStreet cut shares of VALE from a “b-” rating to a “c+” rating in a report on Thursday, August 17th. Finally, BMO Capital Markets set a $8.00 price target on shares of VALE and gave the company a “hold” rating in a report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $9.67.

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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.

Institutional Ownership by Quarter for VALE (NYSE:VALE)

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