BMO Capital analyst Jeremy Mccrea maintained a Buy rating on Paramount Resources (PRMRF – Research Report) today and set a price target of C$25.00.
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Jeremy Mccrea has given his Buy rating due to a combination of factors that highlight Paramount Resources’ unique position in the energy sector. The company holds a variety of underappreciated assets, particularly in the Cavalier and Horn River/Liard Basin areas, which have not been fully valued by the market. These assets, along with a strategic pivot towards developing the Duvernay properties, present significant growth potential.
Additionally, the recent sale of the Montney assets to Ovintiv and the subsequent special dividend payment reinforce the company’s strategic shift and financial strength. Despite adjusting the target price to reflect these changes, the focus on high-potential areas and non-producing assets supports the expectation of future stock performance. Jeremy’s analysis suggests that Paramount’s strategic direction and asset portfolio make it a compelling investment opportunity.
In another report released on February 3, CIBC also maintained a Buy rating on the stock with a C$39.50 price target.
Based on the recent corporate insider activity of 91 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.