BMO Capital Markets Forecasts Strong Price Appreciation for Paramount Resources (TSE:POU) Stock

Paramount Resources (TSE:POU) had its price objective upped by equities researchers at BMO Capital Markets from C$24.00 to C$32.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 8.84% from the company’s current price.

Other analysts have also issued research reports about the stock. ATB Cormark Capital Markets lifted their price target on shares of Paramount Resources from C$28.00 to C$33.00 and gave the stock an “outperform” rating in a research note on Wednesday. Royal Bank Of Canada raised their target price on shares of Paramount Resources from C$26.00 to C$30.00 and gave the company a “sector perform” rating in a research note on Wednesday. Roth Mkm set a C$33.00 price objective on shares of Paramount Resources and gave the stock a “buy” rating in a research note on Wednesday. Canadian Imperial Bank of Commerce upped their price target on shares of Paramount Resources from C$25.50 to C$30.50 in a research report on Wednesday. Finally, Jefferies Financial Group reduced their price target on Paramount Resources from C$29.00 to C$28.00 in a report on Tuesday, January 20th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$31.22.

Paramount Resources Stock Performance

POU traded down C$0.02 during trading on Wednesday, reaching C$29.40. The company’s stock had a trading volume of 370,691 shares, compared to its average volume of 282,115. The company’s fifty day moving average price is C$24.86 and its 200-day moving average price is C$23.40. Paramount Resources has a 52-week low of C$14.50 and a 52-week high of C$30.07. The company has a market capitalization of C$4.22 billion, a price-to-earnings ratio of 3.13, a price-to-earnings-growth ratio of 0.14 and a beta of 0.19. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 3.35.

Paramount Resources (TSE:POU) last announced its earnings results on Tuesday, March 3rd. The company reported C($0.03) earnings per share (EPS) for the quarter. Paramount Resources had a return on equity of 47.09% and a net margin of 106.31%.The business had revenue of C$262.50 million for the quarter. On average, equities analysts forecast that Paramount Resources will post 1.4075758 earnings per share for the current fiscal year.

About Paramount Resources

Paramount is an independent, publicly traded Canadian energy company that explores for and develops both conventional and unconventional petroleum and natural gas, including longer-term strategic exploration and pre-development plays. The Company’s principal properties are located in Alberta and British Columbia. Paramount’s class A common shares are listed on the Toronto Stock Exchange under the symbol “POU”.