Paramount Gold Nevada (NYSEAMERICAN:PZG) Shares Down 1.7% – Here’s What Happened

Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) shares traded down 1.7% on Monday . The stock traded as low as $1.16 and last traded at $1.17. 1,066,542 shares changed hands during trading, an increase of 47% from the average session volume of 724,516 shares. The stock had previously closed at $1.19.

Paramount Gold Nevada Stock Down 1.7%

The stock’s fifty day moving average price is $1.51 and its 200-day moving average price is $1.61. 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 $100.36 million, a price-to-earnings ratio of -5.32 and a beta of 1.18.

Hedge Funds Weigh In On Paramount Gold Nevada

Large investors have recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in shares of Paramount Gold Nevada by 6.0% in the 2nd quarter. Geode Capital Management LLC now owns 607,801 shares of the basic materials company’s stock valued at $373,000 after acquiring an additional 34,614 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Paramount Gold Nevada by 29.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,132,631 shares of the basic materials company’s stock worth $1,427,000 after acquiring an additional 256,431 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new position in Paramount Gold Nevada during the first quarter valued at approximately $105,000. Kovack Advisors Inc. bought a new position in Paramount Gold Nevada in the fourth quarter valued at approximately $38,000. Finally, NewEdge Advisors LLC bought a new position in Paramount Gold Nevada in the fourth quarter valued at approximately $207,000. 4.51% of the stock is currently owned by institutional investors and hedge funds.

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.