Paramount Resources (OTCMKTS:PRMRF) Price Target Raised to $14.00 at Stifel Nicolaus

Paramount Resources (OTCMKTS:PRMRF) had its target price raised by research analysts at Stifel Nicolaus from $11.75 to $14.00 in a research note issued to investors on Thursday, The Fly reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 63.14% from the company’s current price.

A number of other equities analysts have also issued reports on PRMRF. CIBC upped their target price on shares of Paramount Resources from $9.00 to $11.50 and gave the stock a “neutral” rating in a research report on Thursday. Royal Bank of Canada increased their price objective on Paramount Resources from $5.00 to $10.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 9th. National Bank Financial reissued a “sector perform” rating on shares of Paramount Resources in a research note on Friday, February 19th. Scotiabank upped their price target on Paramount Resources from $3.50 to $4.50 and gave the company an “underperform” rating in a research note on Thursday, January 14th. Finally, BMO Capital Markets upgraded Paramount Resources from a “market perform” rating to an “outperform” rating in a research report on Monday, February 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $8.63.

Shares of OTCMKTS PRMRF opened at $8.58 on Thursday. The firm’s 50-day simple moving average is $6.91 and its 200 day simple moving average is $3.64. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -4.23 and a beta of 3.85. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.46. Paramount Resources has a 12-month low of $0.58 and a 12-month high of $9.37.

About Paramount Resources

Paramount Resources Ltd., an independent energy company, explores for, develops, produces, and markets natural gas, crude oil, and natural gas liquids in Canada. Its principal properties are the Montney and Duvernay developments located in Alberta and British Columbia. The company also invests in public and private corporations.

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