Vale S A (VALE) Stock Value Declined While Ashmore Group Plc Has Upped Position by $5.21 Million

June 16, 2018 - By marketbeat

Vale S.A. (NYSE:VALE) Logo

Ashmore Group Plc increased its stake in Vale S A (VALE) by 39.74% based on its latest 2018Q1 regulatory filing with the SEC. Ashmore Group Plc bought 434,364 shares as the company’s stock declined 3.15% with the market. The institutional investor held 1.53M shares of the precious metals company at the end of 2018Q1, valued at $19.43M, up from 1.09M at the end of the previous reported quarter. Ashmore Group Plc who had been investing in Vale S A for a number of months, seems to be bullish on the $65.76 billion market cap company. The stock decreased 3.59% or $0.49 during the last trading session, reaching $13.17. About 24.65M shares traded or 12.65% up from the average. Vale S.A. (NYSE:VALE) has risen 69.29% since June 16, 2017 and is uptrending. It has outperformed by 56.72% the S&P500.

Ashmore Group Plc, which manages about $202.06 million US Long portfolio, decreased its stake in Cemex Sab De Cv (NYSE:CX) by 2.25 million shares to 511,700 shares, valued at $3.39 million in 2018Q1, according to the filing. It also reduced its holding in Alibaba Group Hldg Ltd (NYSE:BABA) by 69,462 shares in the quarter, leaving it with 213,276 shares, and cut its stake in Fomento Economico Mexicano S (NYSE:FMX).

More recent Vale S.A. (NYSE:VALE) news were published by: Mining.com which released: “Trump trade war blows up big week for mining majors” on June 15, 2018. Also Forbes.com published the news titled: “How Is Vale Likely To Grow In The Next 2 Years?” on June 14, 2018. Seekingalpha.com‘s news article titled: “Wheaton Precious Metals buys cobalt stream from Vale mine in $390M deal” with publication date: June 11, 2018 was also an interesting one.

Vale S.A. (NYSE:VALE) Ratings Coverage

Among 6 analysts covering Vale (NYSE:VALE), 1 have Buy rating, 0 Sell and 5 Hold. Therefore 17% are positive. Vale had 7 analyst reports since January 16, 2018 according to SRatingsIntel. Bank of America initiated the shares of VALE in report on Wednesday, March 28 with “Buy” rating. RBC Capital Markets maintained Vale S.A. (NYSE:VALE) rating on Tuesday, April 3. RBC Capital Markets has “Buy” rating and $1600 target. The stock has “Hold” rating by RBC Capital Markets on Tuesday, April 24. The stock of Vale S.A. (NYSE:VALE) earned “Hold” rating by BMO Capital Markets on Friday, January 26. Deutsche Bank downgraded Vale S.A. (NYSE:VALE) on Tuesday, January 16 to “Hold” rating. The firm has “Market Perform” rating given on Thursday, March 1 by Cowen & Co. The firm earned “Hold” rating on Thursday, February 15 by Jefferies.

Vale S.A. (NYSE:VALE) Ratings Chart

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