Kelt Exploration Gets a Buy Rating from GMP FirstEnergy

By Jason Carr

Kelt Exploration (TSX: KEL), the Materials sector company, was revisited by a Wall Street analyst today. Analyst Robert Fitzmartyn from GMP FirstEnergy remains bullish on the stock and has a C$8.50 price target.

According to TipRanks.com, Fitzmartyn is ranked #4503 out of 4588 analysts.

Currently, the analyst consensus on Kelt Exploration is Strong Buy and the average price target is C$8.56, representing a 44.1% upside.

In a report issued on June 26, BMO Capital also reiterated a Buy rating on the stock with a C$8 price target.

Based on Kelt Exploration’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$53.6 million and GAAP net loss of C$2.27 million. In comparison, last year the company earned revenue of C$37.54 million and had a GAAP net loss of C$25.92 million.

Kelt Exploration Ltd. is a Canadian based oil and gas company . It focuses on exploration and development of crude oil and natural gas resources, primarily in west central Alberta and northeastern British Columbia. The company was founded on October 11, 2012 and is headquartered in Calgary, Canada.

The company’s shares closed on Tuesday at $5.94.