10 Best Potash Stocks to Buy

3. Vale S.A. (NYSE:VALE) 

Number of Hedge Fund Holders: 34 

Vale S.A. (NYSE: VALE) is a diversified global mining company and one of the world’s largest producers of iron ore, pellets, and nickel. The company also has significant operations in potash, copper, and coal. Vale has been focusing on sustainability and reducing its environmental impact. The company has set ambitious targets to reduce greenhouse gas emissions and is investing in renewable energy projects to power its operations.

Analysts are bullish on Vale’s potash business due to rising global fertilizer demand driven by population growth and the need for increased agricultural productivity. Vale’s acquisition of Potash One and ongoing investments in expanding and modernizing its potash operations position the company to capitalize on this demand. Vale SA has received a Moderate Buy rating from 12 Wall Street analysts based on recent forecasts. The average price target is $15.55, with a range from $12.70 to $18.00. This average suggests a potential 39.34% increase from the current price of $11.16.

In Q1 2024, there were 34 hedge fund holders in Vale S.A. (NYSE: VALE) with Fisher Asset Management holding the largest position in the company. Fisher held 16,255,974 shares in the stock worth $198,160,322, comprising 0.09% of the company’s total portfolio. Vale reported a proforma adjusted EBITDA of US$ 3.5 billion, in Q1 2024 which is 9% lower year-over-year (y/y) and 49% lower quarter-over-quarter (q/q). This decrease was primarily due to weaker iron ore fines realized prices and seasonally lower sales. The company’s capital expenditures for the quarter were US$ 1.4 billion, which is US$ 0.3 billion higher y/y. The Serra Sul 120 Mtpy project’s estimated CAPEX was revised upwards to US$ 2.8 billion due to higher input and services costs