Vedanta Resources plc (LON:VED) Receives “Underweight” Rating from Barclays PLC
Vedanta Resources plc (LON:VED)‘s stock had its “underweight” rating reiterated by equities research analysts at Barclays PLC in a report released on Friday. They currently have a GBX 600 ($7.77) target price on the stock. Barclays PLC’s price target suggests a potential downside of 17.98% from the company’s previous close.
Several other research analysts have also weighed in on VED. Citigroup Inc. reissued a “neutral” rating and set a GBX 1,090 ($14.12) price target on shares of Vedanta Resources plc in a research report on Thursday, March 16th. Deutsche Bank AG upped their price target on 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. Credit Suisse Group raised Vedanta Resources plc to a “neutral” rating and upped their price target for the company from GBX 750 ($9.72) to GBX 800 ($10.36) in a research report on Thursday, March 30th. Goldman Sachs Group, Inc. (The) reissued a “conviction-buy” rating on shares of Vedanta Resources plc in a research report on Thursday, April 6th. Finally, Jefferies Group LLC dropped their price target on Vedanta Resources plc from GBX 950 ($12.31) to GBX 850 ($11.01) and set a “hold” rating on the stock in a research report on Tuesday, April 18th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of GBX 751.67 ($9.74).
Shares of Vedanta Resources plc (VED) opened at 731.50 on Friday. The company’s 50-day moving average price is GBX 615.82 and its 200-day moving average price is GBX 815.52. Vedanta Resources plc has a 52-week low of GBX 402.40 and a 52-week high of GBX 1,112.50. The stock’s market cap is GBX 2.03 billion.
The company also recently announced a dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Thursday, July 20th will be given a GBX 26.92 ($0.35) dividend. This is a positive change from Vedanta Resources plc’s previous dividend of $16.08. This represents a yield of 4.24%. The ex-dividend date is Thursday, July 20th.
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About Vedanta Resources plc
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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