Canadian Imperial Bank of Commerce Boosts Paramount Resources (TSE:POU) Price Target to C$30.50

Paramount Resources (TSE:POU) had its target price boosted by equities research analysts at Canadian Imperial Bank of Commerce from C$25.50 to C$30.50 in a research note issued on Wednesday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price target indicates a potential upside of 3.74% from the company’s current price.

Several other brokerages have also recently commented on POU. Raymond James Financial raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Thursday, January 15th. Scotiabank increased their target price on Paramount Resources from C$29.00 to C$31.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Jefferies Financial Group decreased their target price on shares of Paramount Resources from C$29.00 to C$28.00 in a research report on Tuesday, January 20th. Finally, Roth Mkm set a C$33.00 price objective on shares of Paramount Resources and gave the stock a “buy” rating in a research report on Wednesday. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Paramount Resources has an average rating of “Moderate Buy” and an average target price of C$31.22.

Paramount Resources Trading Down 0.1%

Shares of TSE:POU traded down C$0.02 during mid-day trading on Wednesday, reaching C$29.40. The stock had a trading volume of 370,691 shares, compared to its average volume of 282,115. The firm has a market cap of C$4.22 billion, a PE ratio of 3.13, a price-to-earnings-growth ratio of 0.14 and a beta of 0.19. The firm has a 50 day simple moving average of C$24.86 and a two-hundred day simple moving average of C$23.40. The company has a current ratio of 3.35, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. Paramount Resources has a twelve month low of C$14.50 and a twelve month high of C$30.07.

Paramount Resources (TSE:POU) last posted its earnings results on Tuesday, March 3rd. The company reported C($0.03) earnings per share 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, research analysts predict that Paramount Resources will post 1.4075758 EPS 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”.