Vedanta Resources plc (VED) Stock Rating Reaffirmed by Barclays PLC
Vedanta Resources plc (LON:VED)‘s stock had its “underweight” rating reissued by research analysts at Barclays PLC in a report released on Thursday. They presently have a GBX 460 ($5.70) target price on the stock. Barclays PLC’s price objective would suggest a potential downside of 44.00% from the stock’s previous close.
Other research analysts also recently issued reports about the company. Jefferies Group reiterated an “underperform” rating on shares of Vedanta Resources plc in a report on Friday, July 15th. Deutsche Bank AG upped their price objective on Vedanta Resources plc from GBX 615 ($7.62) to GBX 630 ($7.80) and gave the stock a “buy” rating in a report on Tuesday, August 2nd. Canaccord Genuity restated a “hold” rating and set a GBX 400 ($4.95) price objective on shares of Vedanta Resources plc in a report on Monday, August 1st. Finally, Credit Suisse Group AG upped their price objective on Vedanta Resources plc from GBX 300 ($3.72) to GBX 330 ($4.09) and gave the stock an “underperform” rating in a report on Monday, July 18th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of GBX 441.50 ($5.47).
Shares of Vedanta Resources plc (LON:VED) opened at 821.50 on Thursday. The firm’s 50-day moving average price is GBX 666.35 and its 200-day moving average price is GBX 513.54. The stock’s market capitalization is GBX 2.27 billion. Vedanta Resources plc has a one year low of GBX 195.16 and a one year high of GBX 904.50.
The company also recently disclosed a dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, November 17th will be given 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).
Vedanta Resources plc Company Profile
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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