Vedanta Ltd (NYSE:VEDL) Receives Consensus Recommendation of “Hold” from Analysts

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.

Vedanta (NYSE:VEDL) last issued its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $0.40 EPS for the quarter. The company had revenue of $3.28 billion during the quarter. Vedanta had a net margin of 7.46% and a return on equity of 17.22%.

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.

Further Reading: Technical Analysis of Stocks and What It Means

Analyst Recommendations for Vedanta (NYSE:VEDL)

Receive News & Ratings for Vedanta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vedanta and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit