|Bid||1.3800 x 0|
|Ask||1.4000 x 0|
|Day's Range||1.3000 - 1.5900|
|52 Week Range||0.8100 - 9.5200|
|Beta (5Y Monthly)||3.89|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 05, 2020 - May 10, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Dec. 09, 1999|
|1y Target Est||2.37|
Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Paramount Resources...
TORONTO , April 2, 2020 /CNW/ - Trading resumes in: Company: Paramount Resources Ltd. TSX Symbol: POU Resumption (ET): 10:50:10 AM IIROC can make a decision to impose a temporary suspension (halt) ...
CALGARY , April 1, 2020 /CNW/ - Paramount Resources Ltd. ("Paramount" or the "Company") (POU.TO) announces that the 2020 annual general meeting of its shareholders (the "Meeting") will be held on Thursday, May 7, 2020 at 10:30 a.m. (MDT) at the Company's offices in Calgary , Alberta. Due to restrictions on mass gatherings implemented by the Government of Alberta in response to the COVID-19 (Coronavirus) outbreak and out of concern for the wellbeing of all participants, shareholders and guests will not be permitted to physically attend the Meeting. Paramount encourages all shareholders to vote in advance of the meeting by mail, telephone or internet in the manner set out in the meeting materials that have been sent to shareholders, copies of which can be accessed on Paramount's website at https://www.paramountres.com/investor-relations/shareholder-meetings#2020 and on SEDAR at www.sedar.com.
TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:Toronto Stock Exchange (12,170.52, up 449.10 points.)Bombardier Inc. (TSX:BBD.B). Industrials. Up three cents, or 6.67 per cent, to 48 cents on 22.7 million shares.Cenovus Energy Inc. (TSX:CVE). Energy. Up nine cents, or 3.96 per cent, to $2.36 on 18.5 million shares.Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Up 20 cents, or 1.82 per cent, to $11.20 on 16.6 million shares.Suncor Energy Inc. (TSX:SU). Energy. Up 56 cents, or 3.72 per cent, to $15.63 on 16.2 million shares. Kinross Gold Corp. (TSX:K). Materials. Down 16 cents, or 2.71 per cent, to $5.75 on 14.6 million shares.B2Gold Corp. (TSX:BTO). Materials. Up 36 cents, or 8.98 per cent, to $4.37 on 13.2 million shares.Companies in the news:Agnico Eagle Mines Ltd. (TSX:AEM). Up $5.18 or 10 per cent to $57.07. Agnico Eagle Mines Ltd. says it's sending its local workforce home from its Nunavut mining operations for four weeks to protect them and their communities from the potential spread of the COVID-19 outbreak as the territorial government declare a public health emergency. The Toronto-based gold miner says it will continue to pay those workers and it's meeting with its contractors to discuss similar measures for their local workforces.Canadian Tire Corp. (TSX:CTC.A). Up $9.94 or 13.4 per cent to $5.18. Retailers that have remained open as concerns around the spread of the novel coronavirus increase are either succumbing to pressure to shut their doors or explaining why they should be considered an essential service. Canadian Tire Corp. announced it would close its "non-essential retail banners" in Canada starting Friday until April 2. That includes its 402 SportChek stores and 380 Mark's outlets, according to its most recent quarterly report for the period up to Dec. 28, 2019. It will continue to pay its full- and part-time employees during the closure. However, its namesake Canadian Tire stores will stay open with reduced hours.Paramount Resources Ltd. (TSX:POU). Up two cents or two per cent to $1. Paramount Resources Ltd. is cutting its capital spending plan in the face of the significant drop in global energy prices. The company expects capital spending this year to come in between $185 million and $250 million. The new forecast compared with earlier guidance for between $350 million and $450 million this year. Companies across the oilpatch are slashing capital spending plans as oil prices crash due to the economic slowdown due to COVID-19 and a flood of new oil coming from Saudi Arabia.Thomson Reuters (TSX:TRI). Up $2.38 or 2.9 per cent to $84.34. Thomson Reuters says it has acquired Pondera Solutions, a technology company focused on detecting improper payments in health plans and government programs. Financial terms of the agreement were not immediately available. Based in Sacramento, Pondera Solutions was founded in 2011 and has an office in Florida. The company uses advanced analytics, artificial intelligence and human intelligence to help detect fraud, waste, and abuse in health care and large government programs.This report by The Canadian Press was first published March 19, 2020.The Canadian Press
CALGARY — World oil prices have fallen so low that producers in Canada are being advised not to spend any money on drilling and, in some cases, to stop producing crude oil from existing wells.Benchmark U.S. crude oil prices rebounded dramatically on Thursday to US$25.91 per barrel, a gain of $5.08 from near-20-year-lows on Wednesday, but analysts fear the gains may not last long in an environment of market volatility.At US$25 per barrel, conserving cash is the only way producers can ensure survival, according to a report entitled "A World Without Rigs" from Tudor, Pickering, Holt and Co."If you believe prices are staying this low forever then we really don't have an industry, but I think all of us believe there will be a recovery at some point in time," said report author Jordan McNiven, a Calgary-based analyst, in an interview."It's about hunkering down and making sure you're around to see the other side ... the most defensive approach you can take is to do nothing."He said an analysis of the financial strength of Canadian producers his firm covers shows all can survive even if prices remain as low as US$25 through 2021 — provided they stop most spending.It's unlikely the low price environment will last that long but it could easily last more than six months, he warned.The list of companies cutting 2020 capital spending plans grew longer Thursday with Paramount Resources Ltd. reducing its budget range to between $185 million and $250 million, compared with earlier guidance for between $350 million and $450 million.Fellow Calgary-based producer Tamarack Valley Energy Ltd., meanwhile, slashed its 2020 budget to about $100 million from $175 million.West Texas Intermediate crude prices tumbled to US$20.83 per barrel on Wednesday, their lowest level since at least 2003.Bitumen-blend Western Canadian Select crude, which trades in lockstep with WTI, closed at US$9.12 per barrel, a level that translates to less than half as much for the bitumen after subtracting the costs of buying light petroleum blend.Global oil prices are being hit by fears that demand will fall due to the COVID-19 outbreak, at the same time that the market is flooded with barrels of cheap oil after Russia and Saudi Arabia failed to set new production limits."With crude oil demand slowing and Russian and Saudi production ramping up, we are in an oversupply situation, and have seen third party estimates ranging from two million barrels per day to potentially about nine million barrels per day delta, with no clarity on when either of the two new phenomena might revert to prior levels," said Stifel FirstEnergy in a research report."While we clearly think that recent WTI prices are unsustainably low over the medium term, we have no particularly poignant insights as to whether the current status persists for weeks, months, quarters, or extends beyond a year."Consultancy Wood Mackenzie expects no production growth in Canada in 2020 compared with last year, said senior analyst April Read, adding it's impossible to say how long low prices will persist."There are only a few levers companies can pull to handle these prices and reducing capex is one of them. It's good to see companies being very decisive," she said in an interview."It really is a price war between Russia and Saudi. In Canada we're more of a price taker than a price setter for oil and gas."McNiven said he expects to see more producers to follow the example of Baytex Energy Corp. in shutting down production from wells that are less productive or more expensive to maintain.On Wednesday, Baytex announced it would stop producing about 3,500 bpd of low- or negative-margin heavy oil production, adding it will be able to quickly turn off more wells or restart shut-in ones if conditions change.It reduced its production forecast by 8,000 barrels of oil equivalent per day to between 85,000 and 89,000 boe/d.In a report Thursday, AltaCorp Capital noted that capital spending has been cut by an average of about 30 per cent compared with last year for 29 American and 17 Canadian producers who have announced reduced capital budgets so far."We note that revised 2020 budgets were mostly set when WTI was in the US$30 to $35 per barrel range and, given the continued declines in global crude prices over recent weeks, we believe further cuts could occur," it said.It said Canadian producers have collectively cut roughly $4.5 billion in capital spending since March 9.This report by The Canadian Press was first published March 19, 2020.Companies in this story: (TSX:POU, TSX:BTE, TSX:TVE)Dan Healing, The Canadian Press
CALGARY, March 19, 2020 /CNW/ - Paramount Resources Ltd. ("Paramount" or the "Company") (TSX:POU.TO - News) announces that, in response to the recent significant decline in global energy prices, it has revised its 2020 capital guidance to a range of $185 million to $250 million, a reduction of approximately 46% at mid-point from the originally planned range of $350 million to $450 million. Forecast average sales volumes for 2020 under the revised capital guidance are expected to range between 70,000 Boe/d to 75,000 Boe/d (41% liquids), a reduction of approximately 6% at mid-point from the originally forecast range of 75,000 Boe/d to 80,000 Boe/d. The Company will closely monitor commodity prices and market conditions as the capital program progresses and continue to aggressively pursue cost reduction opportunities.
These three stocks have fallen to record-low levels amid recent market weakness. Would you buy?The post 3 Canadian Stocks That Have Lost Nearly 40% Amid Coronavirus Fears appeared first on The Motley Fool Canada.
CALGARY , March 4, 2020 /CNW/ - HIGHLIGHTS Annual sales volumes averaged 82,394 Boe/d (39 percent liquids) in 2019. Fourth quarter 2019 sales volumes averaged 85,411 Boe/d (42 percent liquids). (1) Cash ...
CALGARY, Jan. 2, 2020 /CNW/ - Paramount Resources Ltd. ("Paramount" or the "Company") (TSX:POU.TO - News) announces that its board of directors has approved the implementing of a normal course issuer bid ("NCIB"). A Notice of Intention to make a Normal Course Issuer Bid has been filed with, and accepted by, the Toronto Stock Exchange (the "TSX"). Paramount is implementing the NCIB as the Company's directors and management believe that, from time to time, the market price of Paramount's Class A Common Shares ("Common Shares") does not reflect the underlying value of the Common Shares and that the purchase of Common Shares for cancellation at such times is a prudent corporate measure that will both increase the proportionate interest in the Company of, and be advantageous to, all of the Company's remaining shareholders.
This month, we saw the Paramount Resources Ltd. (TSE:POU) up an impressive 31%. But spare a thought for the long term...
CALGARY, Dec. 5, 2019 /CNW/ - Paramount Resources Ltd. ("Paramount" or the "Company") is pleased to announce that it has closed the sale of certain natural gas weighted properties in West Central Alberta (the "Assets") for cash consideration of approximately $55 million (the "Transaction"). The Transaction significantly reduces the complexity of Paramount's operations, as the Company has disposed of ~320,000 net acres and associated wells and facilities south of township 53 in Alberta (excluding the Retained Lands). December 31, 2018 Total Proved reserves of 15.9 MMBoe (60% natural gas) and Total Proved plus Probable reserves of 20.1 MMBoe (60% natural gas).
CALGARY , Nov. 15, 2019 /CNW/ - Paramount Resources Ltd. (ʺParamountʺ or the "Company") is pleased to announce that it has completed a non-brokered private placement of 5,648,499 class A common ...