Kelt Exploration (KEL), the Materials sector company, has received a rating update from a Wall Street analyst today. Analyst Ray Kwan from BMO Capital remains bullish on the stock and has a C$7 price target.
According to TipRanks.com, Kwan is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -13.1% and a 29.4% success rate. Kwan covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy Ltd, Paramount Resources Ltd, and Freehold Royalties Ltd.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Kelt Exploration with a C$8.96 average price target.
Based on Kelt Exploration’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$3.63 million. In comparison, last year the company had a GAAP net loss of C$5.39 million.
Kelt Exploration Ltd. is an oil and gas company, which engages in the exploration, development, and production of crude oil and natural gas resources. It operates in the area of Grande Prairie in northwestern Alberta and Fort St. John in northeastern British Columbia. The company was founded on October 11, 2012 and is headquartered in Calgary, Canada.
The company’s shares closed on Monday at C$5.02.
