Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG – Get Free Report) was the target of a large decline in short interest in August. As of August 31st, there was short interest totaling 271,902 shares, a decline of 33.8% from the August 15th total of 410,698 shares. Based on an average trading volume of 693,697 shares, the short-interest ratio is currently 0.4 days. Approximately 0.3% of the shares of the stock are short sold.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of PZG. Tidal Investments LLC lifted its position in Paramount Gold Nevada by 44.1% during the 2nd quarter. Tidal Investments LLC now owns 4,553,669 shares of the basic materials company’s stock valued at $5,191,000 after purchasing an additional 1,392,617 shares during the period. Renaissance Technologies LLC boosted its position in shares of Paramount Gold Nevada by 11.8% in the 1st quarter. Renaissance Technologies LLC now owns 1,266,824 shares of the basic materials company’s stock worth $2,103,000 after purchasing an additional 134,193 shares during the last quarter. BlackRock Inc. bought a new stake in Paramount Gold Nevada in the second quarter valued at about $457,000. Sei Investments Co. bought a new position in Paramount Gold Nevada during the first quarter worth about $665,000. Finally, Bank of America Corp DE raised its position in shares of Paramount Gold Nevada by 9,018.3% in the 1st quarter. Bank of America Corp DE now owns 140,330 shares of the basic materials company’s stock valued at $233,000 after acquiring an additional 138,791 shares during the period. 4.51% of the stock is currently owned by institutional investors.
Paramount Gold Nevada Price Performance
NYSEAMERICAN:PZG traded up $0.03 on Friday, reaching $1.35. The stock had a trading volume of 111,319 shares, compared to its average volume of 1,002,253. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $116.23 million, a P/E ratio of -6.16 and a beta of 1.27. Paramount Gold Nevada has a 1-year low of $0.95 and a 1-year high of $2.71. The stock has a fifty day moving average price of $1.33 and a 200-day moving average price of $1.47.
Wall Street Analysts Forecast Growth
Separately, Alliance Global Partners reaffirmed a “buy” rating on shares of Paramount Gold Nevada in a report on Monday, June 22nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Paramount Gold Nevada currently has a consensus rating of “Buy” and an average price target of $3.25.
Check Out Our Latest Report on Paramount Gold Nevada
About Paramount Gold Nevada
Paramount Gold Nevada Corp. is a mineral exploration and development company focused on precious metals projects in the United States. The company’s activities include acquiring, evaluating, exploring, and advancing properties with the potential to host gold and other valuable minerals.
Paramount Gold Nevada’s principal assets include the Sleeper Gold Project in Humboldt County, Nevada, and the Grassy Mountain Gold Project in Malheur County, Oregon. The Sleeper property is a former producing gold and silver mine that the company is evaluating for potential redevelopment, while Grassy Mountain is an exploration and development project targeting gold and silver mineralization.
The company was previously known as Paramount Gold and Silver Corp.
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