Paramount Resources (OTCMKTS:PRMRF) Price Target Raised to $11.50

Paramount Resources (OTCMKTS:PRMRF) had its target price hoisted by equities research analysts at CIBC from $9.00 to $11.50 in a report issued on Thursday, The Fly reports. The firm currently has a “neutral” rating on the stock. CIBC’s target price suggests a potential upside of 34.01% from the company’s previous close.

A number of other analysts have also recently weighed in on PRMRF. Stifel Nicolaus increased their price objective on shares of Paramount Resources from $8.75 to $11.75 and gave the stock a “buy” rating in a report on Tuesday, February 9th. Scotiabank increased their price objective on Paramount Resources from $3.50 to $4.50 and gave the stock an “underperform” rating in a report on Thursday, January 14th. National Bank Financial reiterated a “sector perform” rating on shares of Paramount Resources in a research report on Friday, February 19th. TD Securities increased their target price on shares of Paramount Resources from $2.50 to $3.25 and gave the company a “hold” rating in a research note on Monday, November 9th. Finally, BMO Capital Markets upgraded shares of Paramount Resources from a “market perform” rating to an “outperform” rating in a research report on Monday, February 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $8.63.

Shares of OTCMKTS PRMRF opened at $8.58 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market capitalization of $1.15 billion, a PE ratio of -4.23 and a beta of 3.85. Paramount Resources has a 1-year low of $0.58 and a 1-year high of $9.37. The business’s fifty day moving average price is $6.91 and its two-hundred day moving average price is $3.64.

About Paramount Resources

Paramount Resources Ltd., an independent energy company, explores for, develops, produces, and markets natural gas, crude oil, and natural gas liquids in Canada. Its principal properties are the Montney and Duvernay developments located in Alberta and British Columbia. The company also invests in public and private corporations.

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Analyst Recommendations for Paramount Resources (OTCMKTS:PRMRF)

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