Zacks Investment Research upgraded shares of Paramount Gold Nevada Corp (NYSE:PZG) from a hold rating to a buy rating in a research report released on Wednesday morning. Zacks Investment Research currently has $1.50 price target on the stock.

According to Zacks, “Paramount Gold and Silver Corp. engages in the acquisition, exploration, and development of gold, silver, and precious metal properties primarily in Mexico. The Company’s primary objective is to explore and develop the San Miguel project. The project is located in Chihuahua, Mexico within the Sierra Madre Occidental gold/silver belt. The company will also continue to explore additional opportunities through joint ventures and acquisitions. The Company’s exploratory activities are concentrated within the San Miguel Groupings. “

A number of other analysts have also issued reports on the stock. HC Wainwright reiterated a buy rating and set a $3.75 price objective on shares of Paramount Gold Nevada Corp in a research note on Monday, October 2nd. Roth Capital set a $2.00 price objective on shares of Paramount Gold Nevada Corp and gave the company a buy rating in a research note on Wednesday, August 2nd.

Paramount Gold Nevada Corp (PZG) remained flat at $$1.20 on Wednesday. 101,866 shares of the company traded hands, compared to its average volume of 82,115. Paramount Gold Nevada Corp has a 12-month low of $1.16 and a 12-month high of $2.10.

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In related news, major shareholder Parent Co. Fcmi purchased 1,075,000 shares of the company’s stock in a transaction that occurred on Thursday, October 12th. The stock was acquired at an average price of $1.40 per share, for a total transaction of $1,505,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders purchased 1,110,000 shares of company stock valued at $1,552,400.

Paramount Gold Nevada Corp Company Profile

Paramount Gold Nevada Corp. is an exploration-stage mining company. The Company is engaged in the business of acquiring, exploring and developing precious metal projects in the United States. Its principal Nevada interest, the Sleeper Gold Project, is located in Humboldt County, Nevada. Its project located in Oregon, known as the Grassy Mountain Project, is situated in Malheur County, Oregon.

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