Kelt Exploration (TSE:KEL) Reaches New 1-Year High – Here’s What Happened

Kelt Exploration Ltd. (TSE:KEL)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as C$8.76 and last traded at C$8.73, with a volume of 100241 shares changing hands. The stock had previously closed at C$8.48.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Canadian Imperial Bank of Commerce increased their target price on Kelt Exploration from C$10.50 to C$11.00 in a research report on Friday, November 14th. TD Securities set a C$9.50 price objective on shares of Kelt Exploration and gave the stock a “buy” rating in a report on Tuesday, January 6th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Kelt Exploration has a consensus rating of “Buy” and an average target price of C$9.63.

Kelt Exploration Stock Performance

The stock’s 50-day moving average is C$7.73 and its 200-day moving average is C$7.24. The company has a current ratio of 0.50, a quick ratio of 0.61 and a debt-to-equity ratio of 4.53. The stock has a market cap of C$1.74 billion, a price-to-earnings ratio of 30.17 and a beta of -0.36.

Insider Activity

In related news, insider Patrick William George Miles sold 94,300 shares of the stock in a transaction on Thursday, January 29th. The stock was sold at an average price of C$8.03, for a total value of C$757,229.00. Following the completion of the sale, the insider directly owned 911,855 shares in the company, valued at approximately C$7,322,195.65. This represents a 9.37% decrease in their position. Also, insider Sadiq Lalani sold 50,000 shares of the firm’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of C$8.05, for a total value of C$402,500.00. Following the completion of the transaction, the insider directly owned 1,845,000 shares in the company, valued at C$14,852,250. This trade represents a 2.64% decrease in their ownership of the stock. In the last 90 days, insiders have sold 224,500 shares of company stock valued at $1,808,529. Company insiders own 15.87% of the company’s stock.

Kelt Exploration Company Profile

Kelt Exploration Ltd is an oil and gas company that focuses on the exploration, development, and production of crude oil and natural gas in Canada. Assets for production are acquired through the purchase of other corporate entities or through a full-cycle exploration program. Kelt traditionally focuses its exploration activities on areas with multizone hydrocarbon potential in Canada. The company owns pipeline infrastructure in some of its core regions to help move its products to domestic markets.