Vale SA (VALE) Short Interest Down 17.2% in January

Vale SA (NYSE:VALE) was the recipient of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 55,260,873 shares, a decrease of 17.2% from the January 15th total of 66,701,739 shares. Based on an average trading volume of 61,601,694 shares, the short-interest ratio is currently 0.9 days. Currently, 1.0% of the shares of the stock are sold short.

A number of large investors have recently added to or reduced their stakes in the business. Stifel Financial Corp lifted its holdings in Vale by 37.5% in the 4th quarter. Stifel Financial Corp now owns 66,941 shares of the basic materials company’s stock valued at $875,000 after purchasing an additional 18,255 shares in the last quarter. Natixis Advisors L.P. lifted its holdings in Vale by 39.3% in the 4th quarter. Natixis Advisors L.P. now owns 45,450 shares of the basic materials company’s stock valued at $599,000 after purchasing an additional 12,823 shares in the last quarter. United Services Automobile Association lifted its holdings in Vale by 29.9% in the 4th quarter. United Services Automobile Association now owns 25,115 shares of the basic materials company’s stock valued at $331,000 after purchasing an additional 5,774 shares in the last quarter. Townsquare Capital LLC purchased a new position in Vale in the 4th quarter valued at about $203,000. Finally, Hsbc Holdings PLC lifted its holdings in Vale by 42.4% in the 4th quarter. Hsbc Holdings PLC now owns 559,339 shares of the basic materials company’s stock valued at $7,379,000 after purchasing an additional 166,505 shares in the last quarter. Institutional investors own 19.89% of the company’s stock.

NYSE:VALE opened at $12.00 on Thursday. The stock has a market capitalization of $63.60 billion, a price-to-earnings ratio of 8.89, a PEG ratio of 1.64 and a beta of 1.14. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.21 and a current ratio of 1.65. Vale has a 12-month low of $10.89 and a 12-month high of $16.13.

A number of brokerages recently commented on VALE. Barclays reissued a “buy” rating and issued a $13.40 price objective on shares of Vale in a research note on Thursday, February 7th. Morgan Stanley cut shares of Vale from an “overweight” rating to an “equal weight” rating and set a $11.40 price objective on the stock. in a research note on Thursday, February 7th. Bank of America began coverage on shares of Vale in a research note on Tuesday, February 5th. They issued a “neutral” rating and a $13.00 price objective on the stock. Royal Bank of Canada lowered their price objective on shares of Vale to $9.00 and set an “underperform” rating on the stock in a research note on Monday, February 4th. Finally, ValuEngine raised shares of Vale from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $13.98.

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About Vale

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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