RBC Capital Believes Kelt Exploration (Other OTC: KELTF) Won’t Stop Here

By Carrie Williams

RBC Capital analyst Michael Harvey maintained a Buy rating on Kelt Exploration (KELTFResearch Report) on September 13 and set a price target of C$4.50. The company’s shares closed last Thursday at $3.91, close to its 52-week high of $3.94.

According to TipRanks.com, Harvey is a 5-star analyst with an average return of 20.2% and a 53.2% success rate. Harvey covers the Utilities sector, focusing on stocks such as Crescent Point Energy, Paramount Resources, and Birchcliff Energy.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Kelt Exploration with a $4.47 average price target, which is a 16.5% upside from current levels. In a report issued on September 15, Canaccord Genuity also maintained a Buy rating on the stock with a C$5.50 price target.

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Based on Kelt Exploration’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $60.64 million and net profit of $54.65 million. In comparison, last year the company earned revenue of $45.45 million and had a GAAP net loss of $253 million.

Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of KELTF in relation to earlier this year.

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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.