Vedanta Resources plc (VED) Receives Consensus Recommendation of “Hold” from Brokerages
Vedanta Resources plc (LON:VED) has been assigned a consensus recommendation of “Hold” from the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is GBX 746.11 ($9.90).
A number of brokerages have weighed in on VED. Jefferies Group LLC upped their price objective on shares of Vedanta Resources plc from GBX 575 ($7.63) to GBX 700 ($9.29) and gave the stock an “underperform” rating in a report on Thursday, August 31st. Citigroup Inc. restated a “buy” rating and issued a GBX 840 ($11.14) price objective on shares of Vedanta Resources plc in a report on Monday, July 31st. Barclays PLC restated an “underweight” rating and issued a GBX 600 ($7.96) price objective on shares of Vedanta Resources plc in a report on Friday, July 14th. J P Morgan Chase & Co restated a “neutral” rating and issued a GBX 600 ($7.96) price objective on shares of Vedanta Resources plc in a report on Wednesday, July 12th. Finally, Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a GBX 925 ($12.27) price objective on shares of Vedanta Resources plc in a report on Monday, July 24th.
Vedanta Resources plc (VED) opened at 901.50 on Friday. Vedanta Resources plc has a 1-year low of GBX 558.50 and a 1-year high of GBX 1,112.50. The firm’s market cap is GBX 2.51 billion. The firm’s 50-day moving average price is GBX 839.97 and its 200-day moving average price is GBX 733.85.
In other news, insider Tarun Jain sold 4,176 shares of the stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of GBX 813 ($10.78), for a total transaction of £33,950.88 ($45,033.66).
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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