Gqg Partners Reduces $746M in Vale S.A. ($VALE)
Key Points
- Gqg Partners changed its Vale S.A. ($VALE) stake by 74.6% last quarter, cutting to 16,574,442 shares worth $254.58 million.
- Wall Street's consensus rating on $VALE is Buy and an average price target of $17.26.
- $VALE last traded around $15.36.
Gqg Partners reduced its position in Vale S.A. ($VALE) by 74.6% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,574,442 shares of Vale S.A. after selling 48,558,130 shares during the quarter. Gqg Partners's holdings in Vale S.A. were worth $254.58 million as of its most recent filing.
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About Vale S.A.
Vale S.A., together with its subsidiaries, produces iron ore and nickel in Brazil, Asia, the Middle East, North Africa, Europe, the Americas, and Oceania. The company operates in two segments, Iron Ore Solutions and Vale Base Metals. It extracts, produces, and distributes iron ore, iron ore pellets, briquettes, nickel, copper, other ferrous products, and by-products, including gold, silver, cobalt, platinum-group metals, and other base metals, as well as low-carbon critical minerals. The company also operates logistics systems and distribution centers, such as mining complexes, railways, and maritime terminals, ports, and ships; generates energy from hydroelectric, solar, and wind sources; and engages in greenfield mineral exploration. In addition, it is involved in research; and trading activities. The company was formerly known as Companhia Vale do Rio Doce and changed its name to Vale S.A. in May 2009. Vale S.A. was founded in 1942 and is headquartered in Rio De Janeiro, Brazil.
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