Vedanta Resources plc rating lowered to neutral at Goldman Sachs (VED)

Vedanta Resources plc was downgraded by investment analysts at Goldman Sachs to a “neutral” rating in a note issued to investors on Tuesday. They currently have a GBX 1,000 ($16.82) target price on the stock. Goldman Sachs’ target price would suggest a potential downside of 5.57% from the company’s current price.

A number of other firms have also recently commented on VED. Analysts at RBC Capital reiterated a “sector performer” rating on shares of Vedanta Resources plc in a research note on Monday. They now have a GBX 1,000 ($16.82) price target on the stock. Separately, analysts at Barclays reiterated an “underweight” rating on shares of Vedanta Resources plc in a research note on Friday, May 16th. Finally, analysts at Credit Suisse reiterated an “outperform” rating on shares of Vedanta Resources plc in a research note on Thursday, May 15th. They now have a GBX 1,150 ($19.34) price target on the stock. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. Vedanta Resources plc has a consensus rating of “Hold” and a consensus target price of GBX 1,050.05 ($17.66).

Shares of Vedanta Resources plc opened at 1100.00 on Tuesday. Vedanta Resources plc has a one year low of GBX 748.00 and a one year high of GBX 1352.00. The stock’s 50-day moving average is GBX 944.7 and its 200-day moving average is GBX 899.2. The company’s market cap is £2.938 billion.

The company also recently declared a dividend, which is scheduled for Friday, August 8th. Investors of record on Wednesday, July 9th will be given a dividend of GBX 23.13 ($0.39) per share. This represents a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, July 9th.

Vedanta Resources plc is a diversified metals and mining company. Its segments include zinc, iron ore, copper, aluminum, power and oil and gas.