Short Interest in Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) Declines By 13.5%

Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) was the recipient of a large decline in short interest in January. As of January 15th, there was short interest totaling 362,223 shares, a decline of 13.5% from the December 31st total of 418,816 shares. Currently, 0.5% of the company’s stock are sold short. Based on an average trading volume of 997,513 shares, the short-interest ratio is presently 0.4 days. Based on an average trading volume of 997,513 shares, the short-interest ratio is presently 0.4 days. Currently, 0.5% of the company’s stock are sold short.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PZG shares. Industrial Alliance Securities set a $3.25 price objective on shares of Paramount Gold Nevada in a report on Monday. Alliance Global Partners reaffirmed a “buy” rating on shares of Paramount Gold Nevada in a research report on Monday. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Paramount Gold Nevada presently has an average rating of “Buy” and a consensus target price of $3.25.

Paramount Gold Nevada Stock Performance

Shares of Paramount Gold Nevada stock opened at $2.08 on Thursday. The company has a 50 day moving average of $1.34 and a 200-day moving average of $1.12. The company has a market cap of $162.99 million, a PE ratio of -12.24 and a beta of 1.31. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.54. Paramount Gold Nevada has a 1-year low of $0.32 and a 1-year high of $2.47.

Paramount Gold Nevada (NYSEAMERICAN:PZG) last announced its quarterly earnings data on Friday, November 14th. The basic materials company reported $0.06 EPS for the quarter.

Institutional Trading of Paramount Gold Nevada

Several large investors have recently bought and sold shares of the business. Thompson Davis & CO. Inc. acquired a new position in Paramount Gold Nevada during the fourth quarter worth about $27,000. Osaic Holdings Inc. grew its holdings in shares of Paramount Gold Nevada by 531.1% during the 2nd quarter. Osaic Holdings Inc. now owns 67,095 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 56,463 shares during the last quarter. Captrust Financial Advisors acquired a new position in Paramount Gold Nevada during the 2nd quarter worth approximately $77,000. Geode Capital Management LLC increased its position in Paramount Gold Nevada by 6.0% during the 2nd quarter. Geode Capital Management LLC now owns 607,801 shares of the basic materials company’s stock worth $373,000 after purchasing an additional 34,614 shares in the last quarter. Finally, Tidal Investments LLC lifted its stake in Paramount Gold Nevada by 11.3% in the 2nd quarter. Tidal Investments LLC now owns 997,102 shares of the basic materials company’s stock valued at $611,000 after purchasing an additional 101,180 shares during the last quarter. 4.51% of the stock is 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.