Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) Short Interest Update

Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) saw a significant growth in short interest in April. As of April 30th, there was short interest totaling 748,543 shares, a growth of 122.5% from the April 15th total of 336,467 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average trading volume of 697,852 shares, the short-interest ratio is currently 1.1 days.

Hedge Funds Weigh In On Paramount Gold Nevada

A number of institutional investors and hedge funds have recently made changes to their positions in the business. OMERS ADMINISTRATION Corp purchased a new position in shares of Paramount Gold Nevada in the 1st quarter worth $105,000. Renaissance Technologies LLC boosted its holdings 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 period. Sei Investments Co. purchased a new position in shares of Paramount Gold Nevada in the 1st quarter worth approximately $665,000. Walleye Capital LLC purchased a new position in shares of Paramount Gold Nevada in the 1st quarter worth approximately $158,000. Finally, Trifecta Capital Advisors LLC purchased a new position in shares of Paramount Gold Nevada in the 1st quarter worth approximately $79,000. 4.51% of the stock is owned by hedge funds and other institutional investors.

Paramount Gold Nevada Stock Performance

NYSEAMERICAN PZG opened at $1.41 on Friday. The stock has a market capitalization of $120.95 million, a PE ratio of -6.41 and a beta of 1.20. The business has a 50 day simple moving average of $1.72 and a two-hundred day simple moving average of $1.57. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.71 and a quick ratio of 1.01. Paramount Gold Nevada has a 1-year low of $0.45 and a 1-year high of $2.71.

Analyst Ratings Changes

Several equities analysts recently weighed in on PZG shares. iA Financial set a $3.25 target price on shares of Paramount Gold Nevada in a research note on Monday, February 2nd. Alliance Global Partners reaffirmed a “buy” rating on shares of Paramount Gold Nevada in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $3.25.

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.