Scotiabank Issues Positive Forecast for Paramount Resources (TSE:POU) Stock Price

Paramount Resources (TSE:POU) had its price target hoisted by investment analysts at Scotiabank from C$43.00 to C$44.00 in a research note issued to investors on Friday,BayStreet.CA reports. Scotiabank’s price objective suggests a potential upside of 41.89% from the stock’s current price.

POU has been the topic of a number of other reports. Cormark raised shares of Paramount Resources to a “hold” rating in a research note on Monday, September 23rd. Cibc World Mkts raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, Jefferies Financial Group cut their target price on shares of Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$37.60.

Paramount Resources Trading Down 1.0 %

TSE:POU opened at C$31.01 on Friday. The firm’s fifty day moving average is C$26.82 and its 200-day moving average is C$29.23. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.68 and a current ratio of 0.75. Paramount Resources has a 52 week low of C$24.51 and a 52 week high of C$33.06. The firm has a market cap of C$4.55 billion, a P/E ratio of 13.14, a P/E/G ratio of 0.14 and a beta of 3.04.

About Paramount Resources

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.