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

Paramount Resources (TSE:POU - Get Free Report) had its price objective raised by research analysts at Scotiabank from C$43.00 to C$44.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Scotiabank's price target would suggest a potential upside of 41.89% from the company's current price.

Several other equities research analysts have also recently commented on POU. 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. Jefferies Financial Group dropped their price target on Paramount Resources from C$36.00 to C$29.00 and set a "buy" rating on the stock in a report on Monday, September 16th. Finally, Cormark upgraded Paramount Resources to a "hold" rating in a research report on Monday, September 23rd. Two investment 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 company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of C$37.60.

Paramount Resources Price Performance

Shares of POU stock traded down C$0.30 during mid-day trading on Friday, hitting C$31.01. 815,882 shares of the stock traded hands, compared to its average volume of 299,518. Paramount Resources has a twelve month low of C$24.51 and a twelve month high of C$33.06. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.68 and a current ratio of 0.75. The company's 50-day simple moving average is C$26.82 and its 200-day simple moving average is C$29.23. The firm has a market cap of C$4.55 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth 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.