Vedanta Resources (VED) Earns “Buy” Rating from Citigroup

Vedanta Resources (LON:VED)‘s stock had its “buy” rating restated by equities research analysts at Citigroup in a research report issued on Monday, November 13th, Marketbeat.com reports.

VED has been the topic of several other reports. Goldman Sachs Group reiterated a “buy” rating and issued a GBX 925 ($12.37) target price on shares of Vedanta Resources in a report on Monday, July 24th. Jefferies Group increased their target price on shares of Vedanta Resources from GBX 575 ($7.69) to GBX 700 ($9.36) and gave the stock an “underperform” rating in a report on Thursday, August 31st. JPMorgan Chase & Co. increased their target price on shares of Vedanta Resources from GBX 600 ($8.02) to GBX 650 ($8.69) and gave the stock a “neutral” rating in a report on Wednesday, October 11th. Finally, Barclays increased their target price on shares of Vedanta Resources from GBX 600 ($8.02) to GBX 750 ($10.03) and gave the stock an “underweight” rating in a report on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Vedanta Resources presently has an average rating of “Hold” and an average target price of GBX 822.14 ($10.99).

Shares of Vedanta Resources (LON VED) traded down GBX 0.50 ($0.01) during mid-day trading on Monday, reaching GBX 804.50 ($10.76). 300,051 shares of the company’s stock were exchanged, compared to its average volume of 854,002. Vedanta Resources has a 1 year low of GBX 558.50 ($7.47) and a 1 year high of GBX 1,112.50 ($14.87). The company has a market capitalization of $2,170.00 and a PE ratio of -11,492.86.

In related news, insider Anil Agarwal sold 60,904 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of GBX 769 ($10.28), for a total value of £468,351.76 ($626,222.44).

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Vedanta Resources 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.

Analyst Recommendations for Vedanta Resources (LON:VED)

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