Scotiabank Boosts Paramount Resources (TSE:POU) Price Target to C$44.00

Paramount Resources (TSE:POU) had its target price increased by Scotiabank from C$43.00 to C$44.00 in a note issued to investors on Friday,BayStreet.CA reports. Scotiabank’s target price would suggest a potential upside of 41.89% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Jefferies Financial Group dropped their target price on shares of Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Cormark upgraded shares of Paramount Resources to a “hold” rating in a research report on Monday, September 23rd. Finally, Cibc World Mkts upgraded shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Paramount Resources currently has an average rating of “Moderate Buy” and a consensus target price of C$37.60.

Paramount Resources Price Performance

Shares of TSE:POU opened at C$31.01 on Friday. The firm has a 50 day moving average of C$26.82 and a 200-day moving average of C$29.23. The stock has a market capitalization of C$4.55 billion, a PE ratio of 13.14, a PEG ratio of 0.14 and a beta of 3.04. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83. Paramount Resources has a 12 month low of C$24.51 and a 12 month high of C$33.06.

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.