Kelt Exploration (TSE:KEL) Hits New 52-Week High at $3.98

Shares of Kelt Exploration Ltd. (TSE:KEL) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$3.98 and last traded at C$3.98, with a volume of 163581 shares trading hands. The stock had previously closed at C$3.81.

A number of equities research analysts have recently issued reports on the company. National Bank Financial increased their target price on Kelt Exploration to C$5.00 and gave the company an “outperform” rating in a research note on Thursday, June 17th. Royal Bank of Canada reissued an “outperform” rating and issued a C$4.00 price target on shares of Kelt Exploration in a report on Tuesday, May 25th. Raymond James reissued an “outperform” rating and issued a C$4.25 price target on shares of Kelt Exploration in a report on Friday, August 6th. Eight Capital assumed coverage on Kelt Exploration in a report on Tuesday, July 27th. They issued a “buy” rating and a C$6.50 price target for the company. Finally, CIBC increased their price target on Kelt Exploration from C$5.00 to C$5.50 in a report on Friday, August 6th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of C$4.90.

The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.99. The business has a fifty day simple moving average of C$3.29 and a 200 day simple moving average of C$3.05. The company has a market cap of C$754.69 million and a P/E ratio of 12.03.

In other news, Senior Officer Alan G. Franks sold 8,500 shares of the company’s stock in a transaction dated Monday, September 13th. The shares were sold at an average price of C$3.82, for a total transaction of C$32,470.00. Following the completion of the transaction, the insider now owns 21,094 shares in the company, valued at C$80,579.08.

About Kelt Exploration (TSE:KEL)

Kelt Exploration Ltd., an oil and gas company, engages in the exploration, development, and production of crude oil and natural gas resources primarily in northwestern Alberta and northeastern British Columbia, Canada. As of December 31, 2019, its proved plus probable reserves were 461.0 million barrels of oil equivalent.

Read More: Cost of Goods Sold (COGS)

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