RBC Capital Thinks Kelt Exploration’s Stock is Going to Recover


Kelt Exploration (KEL), the Materials sector company was revisited today, and remains undervalued for at least one analyst on the street. Analyst Michael Harvey from RBC Capital rated Kelt Exploration (KEL) a Buy, setting a C$7 price target.

According to TipRanks.com, Harvey is a 3-star analyst with an average return of 0.6% and a 41.5% success rate. Harvey covers the Basic Materials sector, focusing on stocks such as Paramount Resources Ltd, Crescent Point Energy, and Birchcliff Energy Ltd.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Kelt Exploration with a C$8.46 average price target, implying a 71.3% upside from current levels. In a report released today, BMO Capital also reiterated a Buy rating on the stock with a C$7 price target.

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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$4.94, close to its 52-week low of C$3.97.

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