CIBC Forecasts Strong Price Appreciation for Paramount Resources (TSE:POU) Stock

Paramount Resources (TSE:POU) had its price objective boosted by equities research analysts at CIBC from C$38.00 to C$39.50 in a research note issued on Friday,BayStreet.CA reports. CIBC’s price target suggests a potential upside of 28.62% from the stock’s previous close.

POU has been the topic of a number of other reports. Cibc World Mkts upgraded Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Cormark upgraded Paramount Resources to a “hold” rating in a report on Monday, September 23rd. Jefferies Financial Group dropped their price objective on shares of Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Royal Bank of Canada boosted their price objective on shares of Paramount Resources from C$34.00 to C$37.00 in a research report on Friday. Finally, Scotiabank raised their target price on shares of Paramount Resources from C$43.00 to C$44.00 in a report on Friday. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$37.60.

Paramount Resources Price Performance

Shares of TSE POU traded down C$0.60 during mid-day trading on Friday, reaching C$30.71. The company’s stock had a trading volume of 437,768 shares, compared to its average volume of 297,653. The stock has a fifty day moving average of C$26.68 and a two-hundred day moving average of C$29.22. The firm has a market capitalization of C$4.51 billion, a PE ratio of 13.06, a P/E/G ratio of 0.14 and a beta of 3.04. Paramount Resources has a 52 week low of C$24.51 and a 52 week high of C$33.06. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.75 and a quick ratio of 0.68.

Paramount Resources Company Profile

Paramount Resources Ltd. explores for and develops conventional and unconventional petroleum and natural gas reserves and resources in Canada. The company holds interests in the Karr and Wapiti Montney properties covering an area of 109,000 net acres located south of the city of Grande Prairie, Alberta; Kaybob North Duvernay development and natural gas producing properties covering an area of 124,000 net acres located in west-central Alberta; and Willesden Green Duvernay development in central Alberta and shale gas producing properties in the Horn River Basin in northeast British Columbia covering an area of 249,000 net acres.