  As more and more network-structured data sets are available, the statistical
analysis of valued graphs has become common place. Looking for a latent
structure is one of the many strategies used to better understand the behavior
of a network. Several methods already exist for the binary case. We present a
model-based strategy to uncover groups of nodes in valued graphs. This
framework can be used for a wide span of parametric random graphs models and
allows to include covariates. Variational tools allow us to achieve approximate
maximum likelihood estimation of the parameters of these models. We provide a
simulation study showing that our estimation method performs well over a broad
range of situations. We apply this method to analyze host--parasite interaction
networks in forest ecosystems.
