Credit Suisse Group AG Lowers Vedanta Resources plc (VED) to Underperform
Credit Suisse Group AG downgraded shares of Vedanta Resources plc (LON:VED) to an underperform rating in a research report report published on Tuesday. They currently have GBX 670 ($8.37) target price on the stock, up from their previous target price of GBX 600 ($7.50).
Other equities analysts also recently issued reports about the company. Deutsche Bank AG reiterated a buy rating on shares of Vedanta Resources plc in a research report on Tuesday, August 9th. Jefferies Group upgraded Vedanta Resources plc to a hold rating and increased their target price for the stock from GBX 500 ($6.25) to GBX 800 ($10.00) in a research report on Thursday, November 10th. 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. Finally, Barclays PLC reiterated an underweight rating and set a GBX 460 ($5.75) target price on shares of Vedanta Resources plc in a research report on Thursday, November 10th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of GBX 476 ($5.95).
Shares of Vedanta Resources plc (LON:VED) opened at 804.00 on Tuesday. The stock’s market cap is GBX 2.22 billion. Vedanta Resources plc has a 1-year low of GBX 195.16 and a 1-year high of GBX 904.50. The company’s 50-day moving average price is GBX 692.28 and its 200 day moving average price is GBX 524.77.
The company also recently announced a dividend, which will be paid on Thursday, December 15th. Stockholders 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 dividend yield of 1.85%.
In other news, insider Tarun Jain sold 1,844 shares of Vedanta Resources plc stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of GBX 884 ($11.04), for a total value of £16,300.96 ($20,366.02). Also, insider Tom Albanese sold 7,906 shares of Vedanta Resources plc stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of GBX 763 ($9.53), for a total value of £60,322.78 ($75,365.79).
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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