Citigroup upgraded shares of Vedanta (NYSE:VEDL) from a neutral rating to a buy rating in a research report released on Monday, The Fly reports.
Separately, ValuEngine lowered shares of Vedanta from a buy rating to a hold rating in a report on Friday, February 7th.
NYSE VEDL traded up $0.06 during mid-day trading on Monday, reaching $3.35. The stock had a trading volume of 1,361,638 shares, compared to its average volume of 990,199. Vedanta has a 1 year low of $3.24 and a 1 year high of $11.18. The stock has a market cap of $3.13 billion, a PE ratio of 2.58 and a beta of 1.71. The company has a fifty day moving average price of $5.64 and a 200 day moving average price of $7.75. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.79 and a quick ratio of 0.63.
Several hedge funds have recently modified their holdings of the company. AQR Capital Management LLC grew its position in shares of Vedanta by 25.3% during the 4th quarter. AQR Capital Management LLC now owns 2,976,125 shares of the basic materials company’s stock valued at $25,684,000 after acquiring an additional 600,338 shares during the period. Renaissance Technologies LLC boosted its holdings in Vedanta by 12.7% in the 4th quarter. Renaissance Technologies LLC now owns 2,487,900 shares of the basic materials company’s stock worth $21,471,000 after buying an additional 279,800 shares during the period. State Street Corp boosted its holdings in Vedanta by 59.4% in the 4th quarter. State Street Corp now owns 1,898,328 shares of the basic materials company’s stock worth $16,383,000 after buying an additional 707,208 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in Vedanta by 8.1% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,217,982 shares of the basic materials company’s stock worth $10,572,000 after buying an additional 91,746 shares during the period. Finally, First Trust Advisors LP boosted its holdings in Vedanta by 74.4% in the 4th quarter. First Trust Advisors LP now owns 831,286 shares of the basic materials company’s stock worth $7,174,000 after buying an additional 354,546 shares during the period. 4.07% of the stock is owned by hedge funds and other institutional investors.
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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