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

Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) saw a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 705,477 shares, a drop of 40.2% from the May 31st total of 1,178,935 shares. Based on an average trading volume of 668,958 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.9% of the company’s shares are sold short.

Wall Street Analyst Weigh In

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

Paramount Gold Nevada Stock Up 1.7%

Shares of Paramount Gold Nevada stock traded up $0.02 during trading hours on Thursday, reaching $1.20. 393,791 shares of the company were exchanged, compared to its average volume of 1,226,406. The firm has a market cap of $102.94 million, a PE ratio of -5.45 and a beta of 1.22. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.71 and a current ratio of 2.71. Paramount Gold Nevada has a 1 year low of $0.59 and a 1 year high of $2.71. The stock’s fifty day moving average is $1.34 and its 200 day moving average is $1.60.

Institutional Investors Weigh In On Paramount Gold Nevada

Several large investors have recently bought and sold shares of the stock. Thompson Davis & CO. Inc. purchased a new position in shares of Paramount Gold Nevada in the 4th quarter valued at about $27,000. Kovack Advisors Inc. purchased a new stake in shares of Paramount Gold Nevada during the fourth quarter worth approximately $38,000. Geode Capital Management LLC increased its stake in shares of Paramount Gold Nevada by 6.0% during 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 period. Trifecta Capital Advisors LLC acquired a new stake in Paramount Gold Nevada in the first quarter valued at approximately $79,000. Finally, Osaic Holdings Inc. raised its holdings in 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 valued at $41,000 after acquiring an additional 56,463 shares in the last quarter. Hedge funds and other institutional investors own 4.51% of the company’s stock.

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.