Sam Burwell, an analyst from Jefferies, maintained the Buy rating on Paramount Resources. The associated price target remains the same with C$25.00.
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Sam Burwell has given his Buy rating due to a combination of factors that highlight Paramount Resources’ promising outlook. The company reported a strong performance in the second quarter, surpassing expectations in both production and cash flow per share. This positive outcome has led to an increase in the lower end of its production guidance range for the fiscal year 2025.
A significant contributor to this optimistic forecast is the early completion of the first phase of the Alhambra plant at Willesden Green, which is set to commence operations ahead of schedule. This development reinforces confidence in the company’s aggressive growth trajectory. Additionally, the reaffirmation of the capital expenditure guidance for FY25 further supports the company’s strategic plans, making the stock an attractive buy for investors.
Based on the recent corporate insider activity of 64 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PRMRF in relation to earlier this year.