Societe Generale Reiterates Buy Rating for Vedanta Resources plc (VED)
Vedanta Resources plc (LON:VED)‘s stock had its “buy” rating reaffirmed by Societe Generale in a research note issued on Tuesday. They currently have a GBX 1,390 ($23.60) price objective on the stock. Societe Generale’s price objective points to a potential upside of 25.23% from the stock’s previous close.
Shares of Vedanta Resources plc (LON:VED) traded down 0.09% on Tuesday, hitting GBX 1109.00. The stock had a trading volume of 320,318 shares. Vedanta Resources plc has a one year low of GBX 748.00 and a one year high of GBX 1286.00. The stock has a 50-day moving average of GBX 1042. and a 200-day moving average of GBX 915.7. The company’s market cap is £2.962 billion.
The company also recently declared a dividend, which is scheduled for Friday, August 8th. Investors of record on Wednesday, July 9th will be given a dividend of GBX 23.13 ($0.39) per share. This represents a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, July 9th.
VED has been the subject of a number of other recent research reports. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Vedanta Resources plc in a research note on Friday. They now have a GBX 1,100 ($18.67) price target on the stock. Separately, analysts at Jefferies Group reiterated a “hold” rating on shares of Vedanta Resources plc in a research note on Tuesday, June 3rd. They now have a GBX 900 ($15.28) price target on the stock. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of GBX 1,083.52 ($18.39).
Vedanta Resources plc is a diversified metals and mining company. Its segments include zinc, iron ore, copper, aluminum, power and oil and gas.
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