BidaskClub downgraded shares of Vedanta Limited (NYSE:VEDL) from a strong-buy rating to a buy rating in a research report sent to investors on Friday.

Separately, Jefferies Group LLC cut shares of Vedanta Limited from a hold rating to an underperform rating in a research report on Thursday, June 8th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Vedanta Limited presently has an average rating of Buy.

Vedanta Limited (NYSE VEDL) traded down 0.50% during trading on Friday, hitting $20.00. The company had a trading volume of 678,943 shares. The stock has a market capitalization of $18.57 billion, a price-to-earnings ratio of 15.72 and a beta of 1.88. The firm’s 50 day moving average is $19.03 and its 200-day moving average is $16.36. Vedanta Limited has a 52-week low of $9.64 and a 52-week high of $20.92.

WARNING: “Vedanta Limited (VEDL) Lowered to Buy at BidaskClub” was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece on another publication, it was copied illegally and reposted in violation of U.S. and international trademark & copyright legislation. The original version of this piece can be read at https://www.thecerbatgem.com/2017/09/16/vedanta-limited-vedl-lowered-to-buy-at-bidaskclub.html.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN lifted its position in Vedanta Limited by 0.4% in the first quarter. Wells Fargo & Company MN now owns 48,903 shares of the basic materials company’s stock valued at $840,000 after acquiring an additional 199 shares during the last quarter. World Asset Management Inc lifted its position in Vedanta Limited by 1.2% in the first quarter. World Asset Management Inc now owns 46,184 shares of the basic materials company’s stock valued at $793,000 after acquiring an additional 547 shares during the last quarter. Comerica Bank lifted its position in Vedanta Limited by 1.3% in the first quarter. Comerica Bank now owns 42,563 shares of the basic materials company’s stock valued at $625,000 after acquiring an additional 552 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Vedanta Limited by 2.4% in the first quarter. Bank of New York Mellon Corp now owns 30,189 shares of the basic materials company’s stock valued at $518,000 after acquiring an additional 703 shares during the last quarter. Finally, Wetherby Asset Management Inc. lifted its position in Vedanta Limited by 4.4% in the second quarter. Wetherby Asset Management Inc. now owns 26,292 shares of the basic materials company’s stock valued at $408,000 after acquiring an additional 1,116 shares during the last quarter. 3.89% of the stock is owned by hedge funds and other institutional investors.

Vedanta Limited Company Profile

Vedanta Limited is a natural resource company engaged in the business of manufacturing copper and copper products, and aluminum and aluminum products. The Company’s segments include Copper, which consists of manufacturing of copper cathode, continuous cast copper rod and anode slime, including from purchased concentrate and manufacturing of precious metal from anode slime, sulfuric acid, phosphoric acid; Iron ore; Aluminium, which consists of manufacturing of alumina and various aluminum products; Power, which consists of power, including power facilities engaged in generation and sale of commercial power, and Other, which consists pig iron and metallurgical coke.

Receive News & Stock Ratings for Vedanta Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vedanta Limited and related stocks with our FREE daily email newsletter.