Vale S.A. (NYSE:VALE) saw a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 93,339,940 shares, a decline of 10.7% from the October 31st total of 104,478,809 shares. Based on an average daily volume of 25,229,846 shares, the days-to-cover ratio is presently 3.7 days.

Institutional investors have recently modified their holdings of the company. AQR Capital Management LLC boosted its position in Vale by 25.9% in the first quarter. AQR Capital Management LLC now owns 163,742 shares of the basic materials company’s stock valued at $1,556,000 after buying an additional 33,718 shares in the last quarter. Boston Advisors LLC boosted its position in Vale by 100.0% in the second quarter. Boston Advisors LLC now owns 96,000 shares of the basic materials company’s stock valued at $840,000 after buying an additional 48,000 shares in the last quarter. 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 in the last quarter. First Trust Advisors LP boosted its position in Vale by 570.0% in the second quarter. First Trust Advisors LP now owns 191,257 shares of the basic materials company’s stock valued at $1,673,000 after buying an additional 162,713 shares in the last quarter. Finally, 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 in the last quarter. Institutional investors and hedge funds own 20.37% of the company’s stock.

Several research firms have recently issued reports on VALE. Morgan Stanley restated an “equal weight” rating and set a $11.70 price objective on shares of Vale in a report on Monday, September 25th. BidaskClub downgraded shares of Vale from a “buy” rating to a “hold” rating in a report on Friday, September 22nd. Goldman Sachs Group restated a “neutral” rating on shares of Vale in a report on Monday, October 23rd. BMO Capital Markets set a $8.00 price objective on shares of Vale and gave the stock a “hold” rating in a report on Tuesday, August 8th. Finally, Jefferies Group restated a “hold” rating on shares of Vale in a report on Tuesday, October 3rd. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $10.33.

Shares of Vale (NYSE:VALE) opened at $10.90 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.52. Vale has a 12-month low of $7.47 and a 12-month high of $11.72. The firm has a market cap of $57,800.00, a PE ratio of 7.45, a PEG ratio of 0.69 and a beta of 1.56.

Vale (NYSE:VALE) last issued its earnings results on Thursday, October 26th. The basic materials company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.15. Vale had a net margin of 15.25% and a return on equity of 19.02%. The business had revenue of $9.05 billion for the quarter. analysts anticipate that Vale will post 1.25 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “Short Interest in Vale S.A. (VALE) Drops By 10.7%” was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this news story on another domain, it was copied illegally and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this news story can be accessed at https://www.thecerbatgem.com/2017/12/02/short-interest-in-vale-s-a-vale-drops-by-10-7.html.

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.

Receive News & Stock Ratings for Vale S.A. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vale S.A. and related stocks with our FREE daily email newsletter.