Vedanta Resources plc (VED) Price Target Raised to GBX 905 at Deutsche Bank AG
Vedanta Resources plc (LON:VED) had its target price upped by Deutsche Bank AG from GBX 900 ($11.24) to GBX 905 ($11.31) in a research note published on Thursday morning. The brokerage currently has a hold rating on the stock.
A number of other equities analysts have also issued reports on VED. Goldman Sachs Group Inc. restated a buy rating on shares of Vedanta Resources plc in a research note on Wednesday. Credit Suisse Group AG lowered Vedanta Resources plc to an underperform rating and lifted their price objective for the company from GBX 600 ($7.50) to GBX 670 ($8.37) in a research note on Tuesday. Canaccord Genuity reiterated a hold rating and set a GBX 400 ($5.00) price objective on shares of Vedanta Resources plc in a research note on Thursday, November 10th. Jefferies Group lifted their price objective on Vedanta Resources plc from GBX 400 ($5.00) to GBX 500 ($6.25) and gave the company an underperform rating in a research note on Friday, October 14th. Finally, Barclays PLC reiterated an underweight rating and set a GBX 320 ($4.00) price objective on shares of Vedanta Resources plc in a research note on Tuesday, August 2nd. 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 company has an average rating of Hold and an average price target of GBX 476 ($5.95).
Vedanta Resources plc (LON:VED) traded down 1.05% during trading on Thursday, hitting GBX 801.50. The stock had a trading volume of 756,656 shares. The firm’s 50-day moving average price is GBX 692.28 and its 200-day moving average price is GBX 524.77. Vedanta Resources plc has a 52-week low of GBX 195.16 and a 52-week high of GBX 904.50. The company’s market cap is GBX 2.21 billion.
The firm also recently announced a dividend, which will be paid on Thursday, December 15th. Shareholders 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 of this dividend is Thursday, November 17th.
In other news, insider Navin Agarwal sold 5,400 shares of Vedanta Resources plc stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of GBX 811 ($10.13), for a total transaction of £43,794 ($54,715.14). Also, insider Tarun Jain sold 1,844 shares of Vedanta Resources plc stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of GBX 884 ($11.04), for a total transaction of £16,300.96 ($20,366.02).
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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