CIBC Issues Pessimistic Forecast for Kelt Exploration (TSE:KEL) Stock Price

Kelt Exploration (TSE:KEL) had its price target dropped by CIBC from C$11.50 to C$10.75 in a research report issued on Thursday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 100.56% from the stock’s current price.

Several other research firms also recently commented on KEL. Scotiabank increased their target price on shares of Kelt Exploration from C$10.50 to C$11.50 in a research report on Friday, January 17th. BMO Capital Markets raised their price objective on Kelt Exploration from C$8.50 to C$9.00 in a research note on Friday, December 13th. Raymond James set a C$9.50 target price on Kelt Exploration and gave the stock an “outperform” rating in a report on Tuesday. Finally, National Bankshares increased their price target on Kelt Exploration from C$9.00 to C$10.00 and gave the company an “outperform” rating in a report on Thursday, January 30th.

Kelt Exploration Stock Performance

KEL stock opened at C$5.36 on Thursday. The company has a market capitalization of C$1.06 billion, a price-to-earnings ratio of 19.00 and a beta of 1.93. The firm has a 50 day moving average of C$6.34 and a two-hundred day moving average of C$6.58. The company has a quick ratio of 0.61, a current ratio of 0.50 and a debt-to-equity ratio of 4.53. Kelt Exploration has a 12 month low of C$4.90 and a 12 month high of C$7.59.

Insider Buying and Selling at Kelt Exploration

In other news, Director Michael Shea sold 30,000 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of C$6.75, for a total transaction of C$202,500.00. Also, Senior Officer Bruce Douglas Gigg sold 14,630 shares of the stock in a transaction dated Friday, March 28th. The shares were sold at an average price of C$6.75, for a total transaction of C$98,752.50. Insiders have sold 178,856 shares of company stock valued at $1,226,688 in the last 90 days. 15.87% of the stock is currently owned by insiders.

Kelt Exploration Company Profile

Kelt Exploration Ltd., an oil and gas company, engages in the exploration, development, and production of crude oil and natural gas resources primarily in Western Canada. The company markets its crude oil and natural gas liquids primarily to third party. Kelt Exploration Ltd. was incorporated in 2012 and is headquartered in Calgary, Canada.