Paramount Gold Nevada (NYSEAMERICAN:PZG) Stock Price Up 2.7% – Time to Buy?

Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) shot up 2.7% during mid-day trading on Thursday . The stock traded as high as $1.16 and last traded at $1.16. Approximately 629,941 shares were traded during mid-day trading, an increase of 39% from the average session volume of 453,712 shares. The stock had previously closed at $1.13.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners reissued a “buy” rating on shares of Paramount Gold Nevada in a research report on Monday, June 22nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $3.25.

Paramount Gold Nevada Stock Performance

The firm has a market capitalization of $94.36 million, a price-to-earnings ratio of -5.00 and a beta of 1.22. The firm’s 50-day moving average price is $1.22 and its two-hundred day moving average price is $1.60. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.71 and a current ratio of 2.71.

Hedge Funds Weigh In On Paramount Gold Nevada

A number of hedge funds have recently modified their holdings of the stock. Bridgeway Capital Management LLC bought a new position in shares of Paramount Gold Nevada during the fourth quarter valued at $94,000. Kovack Advisors Inc. bought a new stake in shares of Paramount Gold Nevada in the 4th quarter worth about $38,000. Hollencrest Capital Management bought a new stake in shares of Paramount Gold Nevada in the 4th quarter worth about $181,000. Jane Street Group LLC increased its position in shares of Paramount Gold Nevada by 502.5% during the 4th quarter. Jane Street Group LLC now owns 143,612 shares of the basic materials company’s stock worth $181,000 after purchasing an additional 119,775 shares in the last quarter. Finally, Osaic Holdings Inc. increased its position in shares of Paramount Gold Nevada by 531.1% during the 2nd quarter. Osaic Holdings Inc. now owns 67,095 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 56,463 shares in the last quarter. 4.51% of the stock is owned by institutional investors and hedge funds.

About Paramount Gold Nevada

Paramount Gold Nevada is a publicly traded mineral exploration and development company focused on precious metal properties in Nevada. The company’s core business activities include the acquisition, exploration, evaluation and advancement of gold and silver prospects. Utilizing modern geological, geochemical and geophysical survey techniques, Paramount seeks to delineate high-grade mineral resources and position its assets for potential future production or strategic partnerships with established mining operators.

Paramount’s portfolio encompasses several key projects across Nevada’s prolific mineral belts, including the historic Sleeper gold mine in Humboldt County, the Scossa epithermal gold system in Pershing County and the San Miguel gold-silver district in Mineral County.