Paramount Resources Ltd (PRMRF) Stock Rating Reaffirmed by Scotiabank
Paramount Resources Ltd (NASDAQ:PRMRF)‘s stock had its “outperform” rating restated by equities researchers at Scotiabank in a research report issued to clients and investors on Monday. They presently have a $18.00 price objective on the stock, up from their previous price objective of $16.00. Scotiabank’s price target would suggest a potential upside of 70.13% from the stock’s current price.
PRMRF has been the topic of a number of other reports. Raymond James Financial Inc. restated an “outperform” rating and issued a $17.50 price target (up from $17.00) on shares of Paramount Resources in a report on Thursday, August 11th. RBC Capital Markets restated a “sector perform” rating and issued a $16.00 price target (up from $15.00) on shares of Paramount Resources in a report on Monday. TD Securities restated a “hold” rating and issued a $16.00 price target (down from $16.50) on shares of Paramount Resources in a report on Thursday, August 11th. Finally, Barclays PLC upgraded Paramount Resources from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $7.00 to $12.00 in a report on Thursday, July 7th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Paramount Resources presently has a consensus rating of “Hold” and an average target price of $15.90.
Shares of Paramount Resources (NASDAQ:PRMRF) opened at 10.58 on Monday. Paramount Resources has a 12-month low of $2.03 and a 12-month high of $12.65. The firm has a 50-day moving average price of $10.70 and a 200-day moving average price of $8.00. The firm’s market cap is $1.12 billion.
Paramount Resources Company Profile
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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