Horseman Capital Management Ltd cut its stake in shares of Vale S.A. (NYSE:VALE) by 35.4% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,200,000 shares of the basic materials company’s stock after selling 1,754,700 shares during the period. Vale makes up 7.8% of Horseman Capital Management Ltd’s portfolio, making the stock its largest position. Horseman Capital Management Ltd owned about 0.06% of Vale worth $28,000,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Baldwin Investment Management LLC boosted its position in Vale by 0.3% in the second quarter. Baldwin Investment Management LLC now owns 13,701 shares of the basic materials company’s stock valued at $120,000 after buying an additional 36 shares during the period. Wedbush Securities Inc. boosted its position in 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 position in 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 position in 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. Finally, Wetherby Asset Management Inc. boosted its position in Vale by 6.3% in the first quarter. Wetherby Asset Management Inc. now owns 29,752 shares of the basic materials company’s stock valued at $283,000 after buying an additional 1,757 shares during the period. 9.58% of the stock is owned by hedge funds and other institutional investors.

Vale S.A. (NYSE:VALE) traded up 1.99% during midday trading on Friday, reaching $11.29. The company had a trading volume of 7,568,847 shares. The company has a market capitalization of $58.18 billion, a PE ratio of 16.27 and a beta of 1.55. Vale S.A. has a one year low of $4.86 and a one year high of $11.70. The stock’s 50 day moving average is $9.89 and its 200 day moving average is $9.29.

Vale (NYSE:VALE) last announced its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.18 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. Equities research analysts forecast that Vale S.A. will post $1.05 earnings per share for the current fiscal year.

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Several equities analysts have commented on the company. Credit Suisse Group set a $8.00 price target on Vale and gave the company a “hold” rating in a report on Sunday, May 28th. Vetr cut Vale from a “strong-buy” rating to a “buy” rating and set a $9.51 price target for the company. in a report on Monday, May 29th. Jefferies Group LLC set a $10.00 price target on Vale and gave the company a “hold” rating in a report on Friday, May 19th. HSBC Holdings plc reaffirmed a “hold” rating and issued a $10.00 price target (down previously from $10.25) on shares of Vale in a report on Wednesday, May 17th. Finally, Clarkson Capital reaffirmed a “neutral” rating on shares of Vale in a report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $9.16.

About Vale

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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Institutional Ownership by Quarter for Vale (NYSE:VALE)

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