Could Kelt Exploration Ltd Go Down After Reaching 52-Week High?

 Could Kelt Exploration Ltd Go Down After Reaching 52 Week High?

The stock of Kelt Exploration Ltd (TSE:KEL) hit a new 52-week high and has $7.47 target or 7.00% above today’s $6.98 share price. The 6 months bullish chart indicates low risk for the $1.37B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $7.47 price target is reached, the company will be worth $95.90 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.72 million shares traded hands or 1.78% up from the average. Kelt Exploration Ltd (TSE:KEL) has risen 38.31% since April 27, 2016 and is uptrending. It has outperformed by 32.39% the S&P500.

Kelt Exploration Ltd (TSE:KEL) Ratings Coverage

Out of 4 analysts covering Kelt Exploration Ltd. (TSE:KEL), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $12 is the highest target while $4.75 is the lowest. The $7.27 average target is 4.15% above today’s ($6.98) stock price. Kelt Exploration Ltd. has been the topic of 32 analyst reports since August 11, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained Kelt Exploration Ltd (TSE:KEL) on Tuesday, August 11 with “Outperform” rating. The stock has “Outperform” rating given by IBC on Tuesday, August 11. The firm has “Buy” rating by Paradigm Research given on Tuesday, August 11. The rating was maintained by Scotia Capital on Friday, August 12 with “Outperform”. The firm earned “” rating on Tuesday, June 28 by Desjardins Securities. The rating was maintained by Credit Suisse with “Neutral” on Tuesday, August 11. The firm has “Outperform” rating given on Friday, November 11 by Scotia Capital. The firm earned “Sector Performer” rating on Wednesday, October 28 by IBC. Raymond James maintained the stock with “” rating in Monday, June 6 report. The rating was maintained by TD Securities on Friday, November 11 with “Action List Buy”.

Kelt Exploration Ltd. is an oil and gas firm based in Calgary, Alberta. The company has a market cap of $1.37 billion. The Firm is focused on the exploration, development and production of natural gas and crude oil resources, primarily in west central Alberta and northeastern British Columbia. It currently has negative earnings. The Company’s land holdings are located in Inga/Fireweed/Stoddart, British Columbia; Grande Prairie , Alberta; Karr, Alberta, and Grande Cache, Alberta.

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