BidaskClub Upgrades Vedanta Limited (VEDL) to Buy
Vedanta Limited (NYSE:VEDL) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Wednesday.
Several other research analysts also recently commented on VEDL. Goldman Sachs Group, Inc. (The) downgraded shares of Vedanta Limited from a “conviction-buy” rating to a “buy” rating in a research report on Tuesday, April 25th. Jefferies Group LLC downgraded shares of Vedanta Limited from a “hold” rating to an “underperform” rating in a research report on Thursday, June 8th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy”.
Shares of Vedanta Limited (VEDL) opened at 18.74 on Wednesday. The company has a market capitalization of $17.40 billion, a price-to-earnings ratio of 14.78 and a beta of 1.88. Vedanta Limited has a 52-week low of $9.42 and a 52-week high of $18.86. The company’s 50-day moving average price is $16.27 and its 200-day moving average price is $15.46.
A number of hedge funds and other institutional investors have recently made changes to their positions in VEDL. Guggenheim Capital LLC increased its position in shares of Vedanta Limited by 4.7% in the fourth quarter. Guggenheim Capital LLC now owns 47,918 shares of the basic materials company’s stock valued at $595,000 after buying an additional 2,157 shares in the last quarter. Macquarie Group Ltd. purchased a new position in shares of Vedanta Limited during the fourth quarter valued at approximately $160,000. Creative Planning purchased a new position in shares of Vedanta Limited during the first quarter valued at approximately $343,000. Nationwide Fund Advisors purchased a new position in shares of Vedanta Limited during the first quarter valued at approximately $249,000. Finally, Mondrian Investment Partners LTD increased its position in shares of Vedanta Limited by 215.6% in the first quarter. Mondrian Investment Partners LTD now owns 933,800 shares of the basic materials company’s stock valued at $16,033,000 after buying an additional 637,900 shares in the last quarter. Institutional investors and hedge funds own 3.64% of the company’s stock.
About Vedanta Limited
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.
Receive News & Ratings for Vedanta Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vedanta Limited and related companies with MarketBeat.com's FREE daily email newsletter.