Could Vedanta Resources plc See a Reversal After Breaking Its 52-Week High?

 Could Vedanta Resources plc See a Reversal After Breaking Its 52 Week High?

The stock of Vedanta Resources plc (LON:VED) hit a new 52-week high and has GBX 1053.54 target or 42.00% above today’s GBX 741.93 share price. The 6 months bullish chart indicates low risk for the GBX 2.06 billion company. The 1-year high was reported on Nov, 3 by Barchart.com. If the GBX 1053.54 price target is reached, the company will be worth GBX 865.20 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock decreased 1.14% or GBX 8.57 on November 3, hitting GBX 741.93. About 589,506 shares traded hands. Vedanta Resources plc (LON:VED) has risen 123.43% since April 6, 2016 and is uptrending. It has outperformed by 122.21% the S&P500.

Vedanta Resources plc (LON:VED) Ratings Coverage

Out of 12 analysts covering Vedanta Resources PLC (LON:VED), 3 rate it a “Buy”, 4 “Sell”, while 5 “Hold”. This means 25% are positive. Vedanta Resources PLC has been the topic of 98 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The company was maintained on Thursday, August 6 by AlphaValue. The rating was maintained by Deutsche Bank on Monday, February 1 with “Sell”. Barclays Capital maintained it with “Underweight” rating and GBX 460 target price in Wednesday, September 21 report. Credit Suisse maintained the stock with “Neutral” rating in Monday, September 14 report. Deutsche Bank maintained the shares of VED in a report on Monday, July 11 with “Buy” rating. AlphaValue downgraded Vedanta Resources plc (LON:VED) on Tuesday, October 13 to “Add” rating. As per Monday, October 12, the company rating was maintained by Deutsche Bank. The firm earned “Hold” rating on Monday, October 5 by Deutsche Bank. The stock of Vedanta Resources plc (LON:VED) has “Underperform” rating given on Tuesday, September 22 by Credit Suisse. The stock of Vedanta Resources plc (LON:VED) has “Underweight” rating given on Monday, February 1 by Barclays Capital.

More notable recent Vedanta Resources plc (LON:VED) news were published by: Moodys.com which released: “Moody’s: Vedanta Resources plc’s refinancing efforts boosted by dividend from …” on March 31, 2016, also Moodys.com with their article: “Moody’s upgrades Vedanta Resources’ CFR to B1 from B2; outlook stable” published on September 13, 2016, Moodys.com published: “Moody’s: Vedanta Resources plc’s announced buybacks are opportunistic and are …” on April 05, 2016. More interesting news about Vedanta Resources plc (LON:VED) were released by: Bloomberg.com and their article: “Vedanta’s 132% Bond Return From Abyss Has Funds Expecting More” published on September 16, 2016 as well as Bloomberg.com‘s news article titled: “Vedanta Resources Bonds Rise After Cairn Merger Deal Sweetened” with publication date: July 25, 2016.

Vedanta Resources plc is a natural resources company, which is engaged in exploring, extracting and processing minerals, and gas and oil. The company has a market cap of 2.06 billion GBP. The Firm produces zinc, lead, silver, copper, aluminum, iron ore, gas and oil, and commercial power. It currently has negative earnings. The Company’s activities are located in India, Zambia, Namibia, South Africa, Liberia, Ireland, Australia and the United Arab Emirates.

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