Vedanta (VEDL) Upgraded to “Hold” by ValuEngine

ValuEngine upgraded shares of Vedanta (NYSE:VEDL) from a sell rating to a hold rating in a research note published on Thursday.

Separately, Goldman Sachs Group assumed coverage on Vedanta in a research report on Tuesday, August 28th. They set a buy rating for the company.

Vedanta stock traded up $0.33 during midday trading on Thursday, reaching $12.06. 754,758 shares of the company were exchanged, compared to its average volume of 690,492. The stock has a market cap of $8.94 billion, a PE ratio of 7.44 and a beta of 2.04. Vedanta has a 1 year low of $10.87 and a 1 year high of $21.99. The company has a current ratio of 0.84, a quick ratio of 0.67 and a debt-to-equity ratio of 0.36.

Institutional investors have recently bought and sold shares of the stock. Sei Investments Co. purchased a new stake in Vedanta during the 1st quarter worth about $190,000. US Bancorp DE increased its position in Vedanta by 150.3% during the 3rd quarter. US Bancorp DE now owns 12,711 shares of the basic materials company’s stock worth $163,000 after purchasing an additional 7,633 shares in the last quarter. Bank of Nova Scotia purchased a new stake in Vedanta during the 2nd quarter worth about $205,000. Commonwealth Equity Services LLC purchased a new stake in Vedanta during the 2nd quarter worth about $213,000. Finally, Greenleaf Trust purchased a new stake in Vedanta during the 2nd quarter worth about $282,000. Hedge funds and other institutional investors own 4.96% of the company’s stock.

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.

See Also: Return on Investment (ROI)

To view ValuEngine’s full report, visit ValuEngine’s official website.

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