Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) Sees Large Decline in Short Interest

Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) was the recipient of a significant drop in short interest in January. As of January 15th, there was short interest totaling 362,223 shares, a drop of 13.5% from the December 31st total of 418,816 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average trading volume of 997,513 shares, the days-to-cover ratio is currently 0.4 days. Based on an average trading volume of 997,513 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.5% of the company’s stock are sold short.

Hedge Funds Weigh In On Paramount Gold Nevada

Several large investors have recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. bought a new stake in shares of Paramount Gold Nevada during the fourth quarter valued at approximately $27,000. Osaic Holdings Inc. raised its stake in shares of Paramount Gold Nevada by 531.1% in the 2nd quarter. Osaic Holdings Inc. now owns 67,095 shares of the basic materials company’s stock valued at $41,000 after buying an additional 56,463 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of Paramount Gold Nevada during the 2nd quarter worth about $77,000. Geode Capital Management LLC boosted its position in shares of Paramount Gold Nevada by 6.0% during the 2nd quarter. Geode Capital Management LLC now owns 607,801 shares of the basic materials company’s stock valued at $373,000 after acquiring an additional 34,614 shares in the last quarter. Finally, Tidal Investments LLC raised its position in Paramount Gold Nevada by 11.3% in the second quarter. Tidal Investments LLC now owns 997,102 shares of the basic materials company’s stock worth $611,000 after purchasing an additional 101,180 shares in the last quarter. Institutional investors and hedge funds own 4.51% of the company’s stock.

Paramount Gold Nevada Stock Performance

NYSEAMERICAN PZG traded down $0.15 during trading on Wednesday, hitting $2.04. The company’s stock had a trading volume of 3,111,202 shares, compared to its average volume of 2,510,945. Paramount Gold Nevada has a 52 week low of $0.32 and a 52 week high of $2.47. The firm has a market cap of $159.46 million, a P/E ratio of -11.97 and a beta of 1.31. The firm has a 50 day moving average price of $1.32 and a 200 day moving average price of $1.11. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.54.

Paramount Gold Nevada (NYSEAMERICAN:PZG) last announced its quarterly earnings data on Friday, November 14th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PZG shares. Alliance Global Partners reaffirmed a “buy” rating on shares of Paramount Gold Nevada in a research note on Monday. Industrial Alliance Securities set a $3.25 price target on Paramount Gold Nevada in a research note on Monday. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $3.25.

Paramount Gold Nevada Company Profile

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.