Paramount Resources Ltd

Paramount Resources Ltd (TSX: POU) is a Canadian energy company that explores, develops, produces, and markets natural gas, crude oil, and natural gas liquids. The company takes part in exploration and production in Alberta and British Columbia. Sales for Paramount's products are priced in a multitude of markets that span the United States and Canada. Depending on the product, contracts can have daily, monthly, or long-term agreements. Assets for exploration and production are acquired by way of royalties that are paid to provincial governments and freehold landowners.

As per our previous ‘Earnings Hunter’ Report published on POU as on 21^st October 2024, Kalkine provided an ‘Attractive’ stance on the stock at CAD 26.65 based on ‘Earnings Hunter Score’, and the stock price has crossed its Resistance  level.

 Noted below are the details of support and resistance levels provided in our previous report:

POU’s Daily Chart

Considering the resistance, risk-reward scenario, current trading levels and uncertain macro environment, the stock seems ‘Unattractive’ at the current market price of CAD 31.46 (as of 14 November 2024).  

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate.

Paramount Resources Ltd is a part of Kalkine’s Earnings Hunter Report 

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 21 October 2024. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level which the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the Toronto Stock Exchange (TSX) and or REFINITIV. Typically, both sources (TSX and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’