Vedanta Ltd (NYSE:VEDL) has earned a consensus rating of “Hold” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company.
VEDL has been the subject of a number of research reports. Citigroup lowered shares of First Quantum Minerals from a “buy” rating to a “neutral” rating and dropped their target price for the stock from C$18.00 to C$13.00 in a report on Tuesday, May 21st. HSBC lowered shares of Vedanta from a “buy” rating to a “hold” rating in a report on Friday, March 29th.
NYSE VEDL traded down $0.04 on Wednesday, hitting $9.79. The company had a trading volume of 11,080 shares, compared to its average volume of 466,950. The stock has a market capitalization of $9.14 billion, a P/E ratio of 9.02 and a beta of 1.28. The company’s fifty day moving average price is $9.72. The company has a quick ratio of 0.61, a current ratio of 0.78 and a debt-to-equity ratio of 0.45. Vedanta has a 12-month low of $8.34 and a 12-month high of $13.44.
Hedge funds have recently made changes to their positions in the company. Mondrian Investment Partners LTD lifted its position in Vedanta by 15.1% in the first quarter. Mondrian Investment Partners LTD now owns 2,759,707 shares of the basic materials company’s stock valued at $29,143,000 after buying an additional 362,766 shares during the last quarter. LMR Partners LLP acquired a new stake in shares of Vedanta during the fourth quarter worth about $22,392,000. Northern Trust Corp lifted its position in shares of Vedanta by 28.9% during the fourth quarter. Northern Trust Corp now owns 557,532 shares of the basic materials company’s stock worth $6,434,000 after purchasing an additional 125,109 shares in the last quarter. Freestone Capital Holdings LLC lifted its position in shares of Vedanta by 84.4% during the first quarter. Freestone Capital Holdings LLC now owns 528,573 shares of the basic materials company’s stock worth $5,582,000 after purchasing an additional 241,951 shares in the last quarter. Finally, Apollo Management Holdings L.P. lifted its position in shares of Vedanta by 100.0% during the first quarter. Apollo Management Holdings L.P. now owns 500,000 shares of the basic materials company’s stock worth $5,280,000 after purchasing an additional 250,000 shares in the last quarter. 3.45% of the stock is currently owned by hedge funds and other institutional investors.
Vedanta Company Profile
Vedanta Limited operates as a diversified natural resources company in India. The company produces oil and gas, zinc, lead, silver, iron ore, copper, and aluminum. It also operates 1,980 megawatts (MW) thermal coal-based commercial power facilities; a 600 MW thermal coal-based commercial power facility in Jharsuguda; a 600 MW thermal coal- based commercial power facility in Korba; 274 MW wind power plants; and a 100 MW power plant.
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