Vedanta Resources plc (LON:VED) had its target price raised by equities researchers at J P Morgan Chase & Co from GBX 600 ($7.92) to GBX 650 ($8.58) in a research report issued to clients and investors on Wednesday, October 11th. The firm currently has a “neutral” rating on the stock. J P Morgan Chase & Co’s price target suggests a potential downside of 27.01% from the company’s previous close.
Several other analysts have also weighed in on VED. Goldman Sachs Group, Inc. (The) lowered their target price on Vedanta Resources plc from GBX 950 ($12.54) to GBX 925 ($12.21) and set a “buy” rating on the stock in a report on Wednesday, July 5th. Barclays PLC reissued an “underweight” rating and issued a GBX 600 ($7.92) target price on shares of Vedanta Resources plc in a report on Friday, July 14th. Citigroup Inc. reissued a “buy” rating and issued a GBX 840 ($11.08) target price on shares of Vedanta Resources plc in a report on Monday, July 31st. Finally, Jefferies Group LLC increased their price objective on Vedanta Resources plc from GBX 575 ($7.59) to GBX 700 ($9.24) and gave the company an “underperform” rating in a research note on Thursday, August 31st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Vedanta Resources plc currently has an average rating of “Hold” and an average price target of GBX 751.67 ($9.92).
Shares of Vedanta Resources plc (LON VED) opened at 905.00 on Wednesday. The company’s market capitalization is GBX 2.52 billion. Vedanta Resources plc has a 52 week low of GBX 558.50 and a 52 week high of GBX 1,112.50. The stock has a 50 day moving average of GBX 863.44 and a 200-day moving average of GBX 737.90.
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In other news, insider Tarun Jain sold 4,176 shares of the firm’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of GBX 813 ($10.73), for a total value of £33,950.88 ($44,801.90).
Vedanta Resources plc Company Profile
Vedanta Resources plc is a natural resources company, which is engaged in exploring, extracting and processing minerals, and oil and gas. The Company produces zinc, lead, silver, copper, aluminum, iron ore, oil and gas, and commercial power. Its operations are located in India, Zambia, Namibia, South Africa, Liberia, Ireland, Australia and the United Arab Emirates.
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