Vedanta Limited (VEDL) Stock Rating Lowered by BidaskClub
Vedanta Limited (NYSE:VEDL) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Friday.
Separately, Jefferies Group LLC lowered 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. The stock currently has a consensus rating of “Buy”.
Shares of Vedanta Limited (VEDL) opened at 20.00 on Friday. The stock has a market capitalization of $18.57 billion, a price-to-earnings ratio of 15.72 and a beta of 1.88. Vedanta Limited has a 52 week low of $9.64 and a 52 week high of $20.92. The firm’s 50-day moving average is $19.03 and its 200-day moving average is $16.36.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its stake in shares of Vedanta Limited by 10,606.7% in the 2nd quarter. Royal Bank of Canada now owns 6,424 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 6,364 shares in the last quarter. Pacad Investment Ltd. acquired a new position in shares of Vedanta Limited in the 2nd quarter valued at about $120,000. Group One Trading L.P. lifted 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 purchasing an additional 3,068 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Vedanta Limited in the 1st quarter valued at about $149,000. Finally, Eagle Asset Management Inc. lifted 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 purchasing an additional 2,030 shares in the last quarter. 3.89% of the stock is currently owned by institutional investors and hedge funds.
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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