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Royal Bank Of Canada Forecasts Strong Price Appreciation for Paramount Resources (TSE:POU) Stock

Paramount Resources logo with Energy background

Key Points

  • Royal Bank of Canada has increased its target price for Paramount Resources from C$23.00 to C$26.00, suggesting a potential upside of 19.16% from the stock's previous close.
  • Jefferies Financial Group also raised its target price on Paramount Resources, now set at C$25.00, reflecting positive sentiment among analysts with a consensus rating of "Moderate Buy."
  • Paramount Resources' stock performance shows volatility, with a 1-year low of C$14.33 and a high of C$32.83, amidst a market capitalization of C$3.13 billion.
  • Interested in Paramount Resources? Here are five stocks we like better.

Paramount Resources (TSE:POU - Get Free Report) had its target price hoisted by investment analysts at Royal Bank Of Canada from C$23.00 to C$26.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price objective indicates a potential upside of 19.16% from the stock's previous close.

Separately, Jefferies Financial Group increased their target price on shares of Paramount Resources from C$21.00 to C$25.00 in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, Paramount Resources presently has a consensus rating of "Moderate Buy" and a consensus target price of C$24.83.

Read Our Latest Stock Analysis on Paramount Resources

Paramount Resources Price Performance

Paramount Resources stock traded up C$0.19 during mid-day trading on Tuesday, reaching C$21.82. The company had a trading volume of 179,656 shares, compared to its average volume of 622,506. Paramount Resources has a 1 year low of C$14.33 and a 1 year high of C$32.83. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.62 and a quick ratio of 0.68. The company has a market capitalization of C$3.13 billion, a P/E ratio of 2.17, a P/E/G ratio of 0.14 and a beta of 0.68. The stock's 50-day simple moving average is C$20.64 and its 200-day simple moving average is C$19.31.

Paramount Resources Company Profile

(Get Free Report)

Paramount Resources Ltd is a Canadian energy company that explores, develops, produces, and markets natural gas, crude oil, and natural gas liquids. The company takes part in exploration and production in Alberta and British Columbia. Sales for Paramount's products are priced in a multitude of markets that span the United States and Canada.

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