CIBC Remains a Hold on Paramount Resources Cl A (POU)

By Jason Carr

The Materials sector company, Paramount Resources Cl A (POUResearch Report), has received a rating update from a Wall Street analyst yesterday. The company received a Hold rating from CIBC’s analyst Jamie Kubik, with a C$13 price target.

According to TipRanks.com, Kubik is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -15.7% and a 26.6% success rate. Kubik covers the Basic Materials sector, focusing on stocks such as Paramount Resources Ltd, Freehold Royalties Ltd, and PrairieSky Royalty Ltd.

Currently, the analyst consensus on Paramount Resources Cl A is a Hold with an average price target of C$13.36, a 65.6% upside from current levels. In a report issued on November 9, TD Securities also maintained a Hold rating on the stock with a C$12 price target.

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The company has a one-year high of C$22.48 and a one-year low of C$7.51. Currently, Paramount Resources Cl A has an average volume of 359.1K.

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$8.07, close to its 52-week low of C$7.51.