Paramount Resources Cl A (POU) Receives a Hold from CIBC

By Austin Angelo

Paramount Resources Cl A (POUResearch Report), the Materials sector company, was revisited by a Wall Street analyst today. Analyst Jamie Kubik from CIBC reiterated a Hold rating, with a C$7.75 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 -19.4% and a 21.8% success rate. Kubik covers the Basic Materials sector, focusing on stocks such as Paramount Resources Ltd, Freehold Royalties Ltd, and PrairieSky Royalty Ltd.

Paramount Resources Cl A has an analyst consensus of Hold, with a price target consensus of C$9.78.

Based on Paramount Resources Cl A’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of C$76.68 million. In comparison, last year the company had a GAAP net loss of C$135 million.

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.

The company’s shares closed on Thursday at C$6.68, close to its 52-week low of C$5.75.