Paramount Resources Ltd (PRMRF) Stock Rating Reaffirmed by RBC Capital Markets
Paramount Resources Ltd (NASDAQ:PRMRF)‘s stock had its “sector perform” rating reissued by RBC Capital Markets in a research note issued to investors on Monday. They currently have a $16.00 price objective on the stock, up from their prior price objective of $15.00. RBC Capital Markets’ target price points to a potential upside of 51.23% from the company’s current price.
PRMRF has been the topic of several other research reports. Scotiabank restated an “outperform” rating and issued a $16.00 price target on shares of Paramount Resources in a research report on Wednesday, August 10th. Barclays PLC raised shares of Paramount Resources from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $7.00 to $12.00 in a research note on Thursday, July 7th. TD Securities raised shares of Paramount Resources from a “reduce” rating to a “hold” rating and raised their price objective for the stock from $6.50 to $10.50 in a research note on Saturday, July 2nd. Finally, Raymond James Financial Inc. reaffirmed an “outperform” rating and issued a $17.50 price objective (up previously from $17.00) on shares of Paramount Resources in a research note on Thursday, August 11th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $15.90.
Shares of Paramount Resources (NASDAQ:PRMRF) opened at 10.58 on Monday. Paramount Resources has a one year low of $2.03 and a one year high of $12.65. The company has a 50-day moving average price of $10.70 and a 200 day moving average price of $8.00. The firm’s market capitalization is $1.12 billion.
About Paramount Resources
Paramount Resources Ltd. is engaged in exploring and developing conventional petroleum and natural gas prospects, which pursues non-conventional exploration and pre-development projects and holds a portfolio of investments in other entities. The Company’s principal properties are primarily located in Alberta, British Columbia and Northwest Territories.
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