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KELTF - Kelt Exploration: The Widening Valuation Gap
Kelt Exploration Ltd
Kelt Exploration (OTC:KELTF) reported strong Q1 earnings. Management confirmed the previously communicated 2019 production and adjusted funds flow guidance. Yet, the gap between the Canadian Crude Index and Kelt Exploration's stock price widened over the last few months.
But even with this interesting development, the market values NuVista Energy (OTCPK:NUVSF), a similar producer, at a greater discount.
Before getting into the details of the relative valuations, let's have a look at the latest results.