Paramount Gold Nevada (NYSEAMERICAN:PZG) Stock Passes Below 50-Day Moving Average – Here’s What Happened

Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG)’s share price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $1.90 and traded as low as $1.35. Paramount Gold Nevada shares last traded at $1.44, with a volume of 466,592 shares trading hands.

Analyst Ratings Changes

Several analysts have weighed in on the company. Alliance Global Partners reiterated a “buy” rating on shares of Paramount Gold Nevada in a research note on Monday, February 2nd. iA Financial set a $3.25 price target on Paramount Gold Nevada in a research note on Monday, February 2nd. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $3.25.

Paramount Gold Nevada Trading Up 4.3%

The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. The company has a 50 day simple moving average of $1.90 and a two-hundred day simple moving average of $1.55. The firm has a market cap of $120.69 million, a PE ratio of -7.20 and a beta of 1.20.

Institutional Trading of Paramount Gold Nevada

A number of hedge funds have recently modified their holdings of the stock. Thompson Davis & CO. Inc. purchased a new stake in shares of Paramount Gold Nevada in the fourth quarter worth about $27,000. Kovack Advisors Inc. purchased a new stake in shares of Paramount Gold Nevada in the fourth quarter worth about $38,000. Geode Capital Management LLC boosted its stake in shares of Paramount Gold Nevada by 6.0% in the second quarter. Geode Capital Management LLC now owns 607,801 shares of the basic materials company’s stock worth $373,000 after buying an additional 34,614 shares during the last quarter. Trifecta Capital Advisors LLC purchased a new stake in shares of Paramount Gold Nevada in the first quarter worth about $79,000. Finally, Osaic Holdings Inc. boosted its stake in shares of Paramount Gold Nevada by 531.1% in the second quarter. Osaic Holdings Inc. now owns 67,095 shares of the basic materials company’s stock worth $41,000 after buying an additional 56,463 shares during the last quarter. Hedge funds and other institutional investors own 4.51% of the company’s stock.

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.