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BMO Capital Thinks Paramount Resources Cl A’s Stock is Going to Recover


Paramount Resources Cl A (POU), the Materials sector company, has received a rating update from a Wall Street analyst today. Analyst Ray Kwan from BMO Capital rated Paramount Resources Cl A (POU) a Buy, setting a C$11 price target.

According to TipRanks.com, Kwan has 0 stars on 0-5 star ranking scale with an average return of -8.5% and a 33.8% success rate. Kwan covers the Basic Materials sector, focusing on stocks such as Paramount Resources Ltd, Pengrowth Energy Corp, and Crescent Point Energy.

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The word on The Street in general, suggests a Hold analyst consensus rating for Paramount Resources Cl A with a C$15.75 average price target.

Based on Paramount Resources Cl A’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of C$135 million. In comparison, last year the company had a net profit of C$223 million.

Paramount Resources Ltd. engages in the exploration, development, production, processing, transportation, and marketing of natural gas, crude oil, and natural gas liquids. It operates through the following segments: Principal Properties, Strategic Investments, and Corporate.

The company’s shares closed on Thursday at C$9.63, close to its 52-week low of C$9.35.