Paramount Resources Ltd (PRMRF) Gets a Hold Rating from CIBC

By Ryan Adsit

According to The Fly, cIBC analyst Jamie Kubik reiterated a Hold rating on Paramount Resources Ltd (PRMRFResearch Report) yesterday. The company’s shares closed yesterday at $6.21, close to its 52-week low of $5.74.

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 Freehold Royalties Ltd, PrairieSky Royalty Ltd, and Pengrowth Energy Corp.

Paramount Resources Ltd has an analyst consensus of Hold.

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Based on Paramount Resources Ltd’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $17.93 million. In comparison, last year the company had a net profit of $178 million.

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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.