ValuEngine cut shares of Vedanta (NYSE:VEDL) from a hold rating to a sell rating in a report released on Wednesday.
VEDL opened at $13.41 on Wednesday. The stock has a market cap of $9.94 billion, a P/E ratio of 8.18 and a beta of 1.87. Vedanta has a fifty-two week low of $13.01 and a fifty-two week high of $21.99. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.34.
Vedanta (NYSE:VEDL) last released its quarterly earnings data on Thursday, May 3rd. The basic materials company reported $0.66 earnings per share for the quarter. The firm had revenue of $4.29 billion for the quarter. Vedanta had a net margin of 10.98% and a return on equity of 24.61%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in VEDL. Alliancebernstein L.P. raised its stake in Vedanta by 121.7% during the fourth quarter. Alliancebernstein L.P. now owns 1,550,962 shares of the basic materials company’s stock worth $32,307,000 after acquiring an additional 851,541 shares during the period. First Trust Advisors LP raised its stake in Vedanta by 73.1% during the fourth quarter. First Trust Advisors LP now owns 1,005,013 shares of the basic materials company’s stock worth $20,934,000 after acquiring an additional 424,313 shares during the period. William Blair Investment Management LLC acquired a new stake in Vedanta during the fourth quarter worth about $8,131,000. Renaissance Technologies LLC grew its position in Vedanta by 17.2% in the 4th quarter. Renaissance Technologies LLC now owns 2,237,960 shares of the basic materials company’s stock worth $46,617,000 after purchasing an additional 328,000 shares during the last quarter. Finally, JPMorgan Chase & Co. bought a new position in Vedanta in the 1st quarter worth about $4,706,000. Hedge funds and other institutional investors own 4.71% of the company’s stock.
Vedanta Limited, a diversified natural resources company, engages in exploring, extracting, and processing minerals, and oil and gas in India. It produces oil and gas, zinc, lead, silver, copper, iron ore, and aluminum. The company also operates 600 megawatts of thermal coal based power facility in the State of Odisha; and 274 megawatts of wind power plants.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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