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


According to The Fly, bMO Capital analyst Ray Kwan reiterated a Buy rating on Paramount Resources Ltd (PRMRF) today. The company’s shares closed yesterday at $7.29, close to its 52-week low of $7.27.

According to TipRanks.com, Kwan ‘s ranking currently consits of no stars on a 0-5 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 Pengrowth Energy Corp, Crescent Point Energy, and Baytex Energy Corp.

The the analyst consensus on Paramount Resources Ltd is currently a Hold rating.

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Based on Paramount Resources Ltd’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $104 million. In comparison, last year the company had a net profit of $178 million.

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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.