Vedanta Resources plc (LON:VED) PT Lowered to GBX 925 at Goldman Sachs Group, Inc. (The)
Vedanta Resources plc (LON:VED) had its target price dropped by investment analysts at Goldman Sachs Group, Inc. (The) from GBX 950 ($12.31) to GBX 925 ($11.98) in a report released on Wednesday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the stock. Goldman Sachs Group, Inc. (The)’s target price points to a potential upside of 31.67% from the company’s previous close.
Several other research firms have also recently weighed in on VED. Credit Suisse Group upgraded shares of Vedanta Resources plc to a “neutral” rating and raised their price objective for the company from GBX 750 ($9.72) to GBX 800 ($10.36) in a research report on Thursday, March 30th. Deutsche Bank AG raised their price objective on shares of Vedanta Resources plc from GBX 1,030 ($13.34) to GBX 1,090 ($14.12) and gave the company a “hold” rating in a research report on Friday, March 17th. Jefferies Group LLC restated a “hold” rating and issued a GBX 850 ($11.01) price objective on shares of Vedanta Resources plc in a research report on Monday, May 15th. Barclays PLC lowered their price objective on shares of Vedanta Resources plc from GBX 800 ($10.36) to GBX 600 ($7.77) and set an “underweight” rating for the company in a research report on Friday, April 21st. Finally, J P Morgan Chase & Co lowered their price objective on shares of Vedanta Resources plc from GBX 850 ($11.01) to GBX 700 ($9.07) and set a “neutral” rating for the company in a research report on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of GBX 756.88 ($9.80).
Vedanta Resources plc (VED) traded down 1.40% on Wednesday, hitting GBX 702.50. 745,751 shares of the stock traded hands. Vedanta Resources plc has a 12-month low of GBX 460.39 and a 12-month high of GBX 1,112.50. The stock has a 50-day moving average price of GBX 615.82 and a 200 day moving average price of GBX 815.52. The stock’s market cap is GBX 1.95 billion.
The firm also recently declared a dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Thursday, July 20th will be given a dividend of GBX 26.92 ($0.35) per share. This is a boost from Vedanta Resources plc’s previous dividend of $16.08. The ex-dividend date of this dividend is Thursday, July 20th. This represents a dividend yield of 4.24%.
Vedanta Resources plc Company Profile
Vedanta Resources plc is a natural resources company, which is engaged in exploring, extracting and processing minerals, and oil and gas. The Company produces zinc, lead, silver, copper, aluminum, iron ore, oil and gas, and commercial power. Its operations are located in India, Zambia, Namibia, South Africa, Liberia, Ireland, Australia and the United Arab Emirates.
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