Vedanta Resources plc (VED) Rating Reiterated by Canaccord Genuity
Vedanta Resources plc (LON:VED)‘s stock had its “hold” rating reiterated by stock analysts at Canaccord Genuity in a research note issued on Thursday. They presently have a GBX 400 ($4.95) target price on the stock. Canaccord Genuity’s target price indicates a potential downside of 51.31% from the company’s current price.
VED has been the topic of several other reports. Deutsche Bank AG restated a “buy” rating and set a GBX 670 ($8.30) target price on shares of Vedanta Resources plc in a research report on Tuesday, October 11th. Barclays PLC restated an “underweight” rating and set a GBX 460 ($5.70) target price on shares of Vedanta Resources plc in a research report on Thursday. Jefferies Group upgraded shares of Vedanta Resources plc to a “hold” rating and boosted their target price for the stock from GBX 500 ($6.19) to GBX 800 ($9.91) in a research report on Thursday. Finally, Credit Suisse Group AG upgraded shares of Vedanta Resources plc to a “neutral” rating and set a GBX 330 ($4.09) target price on the stock in a research report on Friday, October 14th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of GBX 441.50 ($5.47).
Shares of Vedanta Resources plc (LON:VED) opened at 854.50 on Thursday. The firm’s market capitalization is GBX 2.36 billion. The company’s 50-day moving average is GBX 666.35 and its 200 day moving average is GBX 513.54. Vedanta Resources plc has a 52-week low of GBX 195.16 and a 52-week high of GBX 904.50.
The company also recently announced a dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, November 17th will be issued a GBX 16.08 ($0.20) dividend. The ex-dividend date of this dividend is Thursday, November 17th. This represents a yield of 1.85%.
In other Vedanta Resources plc news, insider Tarun Jain sold 1,844 shares of the company’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of GBX 884 ($10.95), for a total value of £16,300.96 ($20,191.95).
About Vedanta Resources plc
Vedanta Resources plc is a diversified natural resources company. The Company is engaged in exploring, extracting and processing minerals and oil and gas. The Company’s segments include Zinc-India, Zinc-International, Oil & Gas, Iron Ore, Copper-India/Australia, Copper-Zambia, Aluminum and Power. The Company produces zinc, lead, silver, copper, aluminum, iron ore, oil and gas and commercial power and has presence across India, Zambia, South Africa, Namibia, Ireland, Australia, Liberia, United Arab Emirates and Sri Lanka.
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