BidaskClub lowered shares of Vedanta Limited (NYSE:VEDL) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Separately, Jefferies Group LLC cut shares of Vedanta Limited from a hold rating to an underperform rating in a report on Thursday, June 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold.

Shares of Vedanta Limited (NYSE VEDL) traded down 3.99% during mid-day trading on Friday, hitting $19.24. The stock had a trading volume of 716,287 shares. Vedanta Limited has a one year low of $9.78 and a one year high of $20.92. The firm’s 50 day moving average price is $19.19 and its 200-day moving average price is $16.44. The company has a market cap of $17.86 billion, a PE ratio of 15.17 and a beta of 1.88.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Vedanta Limited in the second quarter valued at about $292,000. State Street Corp lifted its stake in shares of Vedanta Limited by 40.2% in the second quarter. State Street Corp now owns 1,488,830 shares of the basic materials company’s stock valued at $23,105,000 after buying an additional 427,170 shares during the period. Cornerstone Capital Management Holdings LLC. lifted its stake in shares of Vedanta Limited by 125.1% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 179,200 shares of the basic materials company’s stock valued at $2,781,000 after buying an additional 99,600 shares during the period. Macquarie Group Ltd. lifted its stake in shares of Vedanta Limited by 224.4% in the second quarter. Macquarie Group Ltd. now owns 41,854 shares of the basic materials company’s stock valued at $650,000 after buying an additional 28,954 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of Vedanta Limited by 10,606.7% in the second quarter. Royal Bank of Canada now owns 6,424 shares of the basic materials company’s stock valued at $100,000 after buying an additional 6,364 shares during the period. Institutional investors and hedge funds own 3.89% of the company’s stock.

About Vedanta Limited

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.

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