BidaskClub Downgrades Vedanta Limited (VEDL) to Hold

BidaskClub downgraded shares of Vedanta Limited (NYSE:VEDL) from a buy rating to a hold rating in a report released on Monday, July 24th.

Several other brokerages also recently weighed in on VEDL. Goldman Sachs Group, Inc. (The) downgraded shares of Vedanta Limited from a conviction-buy rating to a buy rating in a research note on Tuesday, April 25th. Jefferies Group LLC downgraded shares of Vedanta Limited from a hold rating to an underperform rating in a research note on Thursday, June 8th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Buy.

Shares of Vedanta Limited (VEDL) opened at 18.76 on Monday. The firm has a market capitalization of $17.42 billion, a price-to-earnings ratio of 14.79 and a beta of 1.88. Vedanta Limited has a one year low of $9.42 and a one year high of $19.20. The stock has a 50 day moving average of $17.33 and a 200-day moving average of $15.74.

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Several hedge funds and other institutional investors have recently made changes to their positions in VEDL. Comerica Bank increased its position in shares of Vedanta Limited by 1.3% in the first quarter. Comerica Bank now owns 42,563 shares of the basic materials company’s stock valued at $625,000 after buying an additional 552 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of Vedanta Limited by 254.1% in the first quarter. BNP Paribas Arbitrage SA now owns 205,033 shares of the basic materials company’s stock valued at $3,520,000 after buying an additional 147,130 shares during the period. Bank of New York Mellon Corp increased its position in shares of Vedanta Limited by 2.4% in the first quarter. Bank of New York Mellon Corp now owns 30,189 shares of the basic materials company’s stock valued at $518,000 after buying an additional 703 shares during the period. First Trust Advisors LP increased its position in shares of Vedanta Limited by 33.1% in the first quarter. First Trust Advisors LP now owns 291,035 shares of the basic materials company’s stock valued at $4,997,000 after buying an additional 72,339 shares during the period. Finally, Wells Fargo & Company MN increased its position in shares of Vedanta Limited by 0.4% in the first quarter. Wells Fargo & Company MN now owns 48,903 shares of the basic materials company’s stock valued at $840,000 after buying an additional 199 shares during the period. Institutional investors and hedge funds own 3.79% of the company’s stock.

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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