Vale SA (NYSE:VALE) was the recipient of a significant growth in short interest in the month of March. As of March 29th, there was short interest totalling 59,782,535 shares, a growth of 12.9% from the March 15th total of 52,970,032 shares. Based on an average daily trading volume, of 28,202,809 shares, the short-interest ratio is presently 2.1 days. Approximately 1.1% of the company’s shares are short sold.

VALE opened at $13.24 on Friday. The company has a market cap of $69.92 billion, a PE ratio of 7.16 and a beta of 1.13. Vale has a 52-week low of $10.89 and a 52-week high of $16.13. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.68.

Institutional investors and hedge funds have recently bought and sold shares of the company. Fisher Asset Management LLC increased its stake in shares of Vale by 10.0% in the fourth quarter. Fisher Asset Management LLC now owns 37,531,858 shares of the basic materials company’s stock worth $495,045,000 after buying an additional 3,410,652 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Vale by 0.7% in the fourth quarter. Acadian Asset Management LLC now owns 20,253,290 shares of the basic materials company’s stock worth $267,142,000 after buying an additional 150,703 shares during the last quarter. FMR LLC increased its stake in shares of Vale by 25.4% in the fourth quarter. FMR LLC now owns 18,419,049 shares of the basic materials company’s stock worth $242,948,000 after buying an additional 3,730,951 shares during the last quarter. Norges Bank bought a new stake in shares of Vale in the fourth quarter worth $172,007,000. Finally, Bank of America Corp DE increased its stake in shares of Vale by 56.9% in the fourth quarter. Bank of America Corp DE now owns 11,685,149 shares of the basic materials company’s stock worth $154,127,000 after buying an additional 4,238,857 shares during the last quarter. Institutional investors own 19.79% of the company’s stock.

A number of analysts have recently issued reports on the stock. ValuEngine lowered shares of Vale from a “hold” rating to a “sell” rating in a research note on Monday, April 1st. Bank of America assumed coverage on shares of Vale in a research note on Tuesday, February 5th. They set a “neutral” rating and a $13.00 price objective on the stock. BMO Capital Markets set a $13.00 price objective on shares of Vale and gave the company a “hold” rating in a research note on Thursday, April 4th. Exane BNP Paribas lowered shares of Vale from a “neutral” rating to an “underperform” rating in a research note on Thursday, January 24th. Finally, Macquarie lowered shares of Vale from an “outperform” rating to a “neutral” rating in a research note on Monday, January 28th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $13.98.

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Vale Company Profile

Vale SA, together with its subsidiaries, produces and sells iron ore and iron ore pellets for use as raw materials in steelmaking in Brazil and internationally. It operates through Ferrous Minerals, Coal, and Base Metals segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and others ferrous products and services, as well as engages in the provision of related railroad, port, and terminal logistics services.

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