Vedanta Ltd. (VEDL) Upgraded to “Buy” by Citigroup Inc.
Separately, Credit Agricole SA raised shares of Vedanta from a sell rating to a buy rating in a research report on Thursday, June 9th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $6.25.
Vedanta (NYSE:VEDL) traded up 2.54% on Wednesday, hitting $11.70. 118,872 shares of the company were exchanged. The firm has a 50 day moving average of $10.19 and a 200-day moving average of $7.98. The stock’s market cap is $8.67 billion. Vedanta has a 52-week low of $3.52 and a 52-week high of $11.73.
Several large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of Vedanta by 28.1% in the first quarter. Geode Capital Management LLC now owns 50,205 shares of the company’s stock worth $276,000 after buying an additional 11,017 shares during the period. HBK Investments L P boosted its position in shares of Vedanta by 209.2% in the first quarter. HBK Investments L P now owns 33,700 shares of the company’s stock worth $185,000 after buying an additional 22,800 shares during the period. BlackRock Inc. boosted its position in shares of Vedanta by 24.5% in the first quarter. BlackRock Inc. now owns 234,828 shares of the company’s stock worth $1,291,000 after buying an additional 46,180 shares during the period. Prudential Financial Inc. boosted its position in shares of Vedanta by 8.3% in the first quarter. Prudential Financial Inc. now owns 836,307 shares of the company’s stock worth $4,600,000 after buying an additional 64,207 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Vedanta by 99.4% in the first quarter. Renaissance Technologies LLC now owns 181,100 shares of the company’s stock worth $996,000 after buying an additional 90,300 shares during the period. 3.32% of the stock is currently owned by institutional investors and hedge funds.
Vedanta Limited, formerly Sesa Sterlite Ltd., is an India-based global diversified natural resources company with operations across zinc, lead, silver, oil and gas, iron ore, copper, aluminum and commercial power. The Company operates through segments, including Copper, Aluminium, Iron Ore, Power and Others.
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