Short Interest in Vale SA (VALE) Expands By 3.4%
Vale SA (NYSE:VALE) saw a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 138,177,530 shares, a growth of 3.4% from the October 14th total of 133,689,977 shares. Based on an average daily volume of 32,366,778 shares, the short-interest ratio is presently 4.3 days.
An institutional investor recently raised its position in Vale SA stock. LPL Financial LLC raised its stake in Vale SA (NYSE:VALE) by 4.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 321,495 shares of the company’s stock after buying an additional 12,910 shares during the period. LPL Financial LLC’s holdings in Vale SA were worth $1,328,000 at the end of the most recent reporting period. Institutional investors own 8.86% of the company’s stock.
Vale SA (NYSE:VALE) opened at 7.31 on Thursday. Vale SA has a 12 month low of $2.13 and a 12 month high of $8.10. The firm’s market capitalization is $37.67 billion. The firm has a 50-day moving average of $6.42 and a 200 day moving average of $5.42.
Several analysts recently commented on VALE shares. Vetr raised shares of Vale SA from a “buy” rating to a “strong-buy” rating and set a $8.87 target price for the company in a report on Monday. Citigroup Inc. raised shares of Vale SA from a “sell” rating to a “neutral” rating in a report on Tuesday, November 1st. Barclays PLC raised shares of Vale SA from an “underweight” rating to an “equal weight” rating in a report on Wednesday, September 21st. JPMorgan Chase & Co. raised shares of Vale SA from a “neutral” rating to an “overweight” rating in a report on Monday, September 12th. Finally, 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. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $5.06.
Vale SA Company Profile
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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