Vedanta Resources plc (VED) Lifted to Hold at Jefferies Group
Jefferies Group upgraded shares of Vedanta Resources plc (LON:VED) to a hold rating in a research note published on Thursday. Jefferies Group currently has GBX 800 ($10.00) price objective on the stock, up from their prior price objective of GBX 500 ($6.25).
Several other research analysts have also recently weighed in on the stock. Barclays PLC restated an underweight rating and issued a GBX 460 ($5.75) price objective on shares of Vedanta Resources plc in a research report on Thursday, November 10th. Credit Suisse Group AG upgraded shares of Vedanta Resources plc to a neutral rating and set a GBX 330 ($4.12) target price for the company in a research report on Friday, October 14th. Deutsche Bank AG reiterated a buy rating and set a GBX 670 ($8.37) target price on shares of Vedanta Resources plc in a research report on Tuesday, October 11th. Finally, Canaccord Genuity reiterated a hold rating and set a GBX 400 ($5.00) target price on shares of Vedanta Resources plc in a research report on Monday, August 1st. Four analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Vedanta Resources plc has an average rating of Hold and an average price target of GBX 475.50 ($5.94).
Shares of Vedanta Resources plc (LON:VED) opened at 776.50 on Thursday. Vedanta Resources plc has a one year low of GBX 195.16 and a one year high of GBX 904.50. The stock’s market capitalization is GBX 2.14 billion. The company’s 50 day moving average price is GBX 676.65 and its 200 day moving average price is GBX 517.79.
The business also recently announced a dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, November 17th will be paid a GBX 16.08 ($0.20) dividend. This represents a yield of 1.85%. The ex-dividend date is Thursday, November 17th.
In related news, insider Tarun Jain sold 1,844 shares of the company’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of GBX 884 ($11.04), for a total value of £16,300.96 ($20,366.02).
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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