National Bank Maintains Their Hold Rating on Paramount Resources (PRMRF)

National Bank analyst Dan Payne maintained a Hold rating on Paramount Resources (PRMRF) today and set a price target of C$3.75. The company’s shares closed last Wednesday at $2.29.

According to, Payne is a 4-star analyst with an average return of 15.4% and a 64.1% success rate. Payne covers the Utilities sector, focusing on stocks such as Crescent Point Energy, Advantage Oil & Gas, and Whitecap Resources.

Paramount Resources has an analyst consensus of Hold, with a price target consensus of $2.36, a 0.9% upside from current levels. In a report issued on November 2, CIBC also maintained a Hold rating on the stock with a C$3.00 price target.

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Based on Paramount Resources’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $113 million and GAAP net loss of $75.72 million. In comparison, last year the company earned revenue of $209 million and had a GAAP net loss of $121 million.

Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is neutral on the stock.

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Paramount Resources Ltd. explores and develops both conventional and unconventional petroleum and natural gas resources. It operates through the following regions: Grande Prairie Region, Kaybob Region and Central Alberta and Other Region. The company was founded by Clayton H. Riddell on February 14, 1978 and is headquartered in Calgary, Canada.

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