RBC Capital Keeps a Hold Rating on Paramount Resources (PRMRF)


In a report released today, Michael Harvey from RBC Capital maintained a Hold rating on Paramount Resources (PRMRF), with a price target of C$2.00. The company’s shares closed last Friday at $1.25, close to its 52-week low of $0.58.

According to TipRanks.com, Harvey is a 1-star analyst with an average return of -1.4% and a 42.6% success rate. Harvey covers the Utilities sector, focusing on stocks such as Painted Pony Petroleum, Crescent Point Energy, and Advantage Oil & Gas.

Paramount Resources has an analyst consensus of Moderate Sell, with a price target consensus of $1.37, representing a 12.3% upside. In a report issued on May 13, BMO Capital also maintained a Hold rating on the stock with a C$2.50 price target.

See today’s analyst top recommended stocks >>

Based on Paramount Resources’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $172 million and GAAP net loss of $235 million. In comparison, last year the company earned revenue of $246 million and had a GAAP net loss of $76.68 million.

Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PRMRF in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts