Vedanta Limited (VEDL) Lowered to “Buy” at BidaskClub
Vedanta Limited (NYSE:VEDL) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Friday.
Separately, Jefferies Group LLC lowered shares of Vedanta Limited from a “hold” rating to an “underperform” rating in a research note on Thursday, June 8th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Vedanta Limited has a consensus rating of “Buy”.
Vedanta Limited (VEDL) traded down 0.50% on Friday, hitting $20.00. 678,943 shares of the stock traded hands. The stock has a 50-day moving average price of $19.03 and a 200 day moving average price of $16.36. The company has a market cap of $18.57 billion, a price-to-earnings ratio of 15.72 and a beta of 1.88. Vedanta Limited has a 1-year low of $9.64 and a 1-year high of $20.92.
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Large investors have recently added to or reduced their stakes in the company. Eagle Asset Management Inc. increased its stake in shares of Vedanta Limited by 18.8% in the 1st quarter. Eagle Asset Management Inc. now owns 12,828 shares of the basic materials company’s stock valued at $220,000 after acquiring an additional 2,030 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Vedanta Limited in the 1st quarter valued at $295,000. Russell Investments Group Ltd. increased its stake in shares of Vedanta Limited by 128.2% in the 1st quarter. Russell Investments Group Ltd. now owns 74,375 shares of the basic materials company’s stock valued at $1,277,000 after acquiring an additional 41,789 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Vedanta Limited by 32.5% in the 1st quarter. Van ECK Associates Corp now owns 865,917 shares of the basic materials company’s stock valued at $14,868,000 after acquiring an additional 212,444 shares in the last quarter. Finally, Group One Trading L.P. increased its stake in shares of Vedanta Limited by 65.4% in the 1st quarter. Group One Trading L.P. now owns 7,762 shares of the basic materials company’s stock valued at $133,000 after acquiring an additional 3,068 shares in the last quarter. Institutional investors own 3.89% of the company’s stock.
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.
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