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

Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) was the recipient of a large increase in short interest in January. As of January 30th, there was short interest totaling 642,447 shares, an increase of 77.4% from the January 15th total of 362,223 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average trading volume of 3,750,014 shares, the short-interest ratio is currently 0.2 days. Based on an average trading volume of 3,750,014 shares, the short-interest ratio is currently 0.2 days. Approximately 0.9% of the company’s stock are sold short.

Paramount Gold Nevada Stock Performance

NYSEAMERICAN:PZG traded up $0.03 during mid-day trading on Friday, reaching $2.20. 816,937 shares of the company’s stock were exchanged, compared to its average volume of 3,049,909. Paramount Gold Nevada has a one year low of $0.34 and a one year high of $2.61. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.32 and a current ratio of 1.01. The business’s fifty day simple moving average is $1.48 and its two-hundred day simple moving average is $1.20. The firm has a market capitalization of $184.38 million, a PE ratio of -11.00 and a beta of 1.31.

Paramount Gold Nevada (NYSEAMERICAN:PZG) last released its earnings results on Friday, November 14th. The basic materials company reported $0.06 earnings per share for the quarter.

Analyst Upgrades and Downgrades

PZG has been the subject of a number of research analyst reports. Alliance Global Partners reiterated a “buy” rating on shares of Paramount Gold Nevada in a research report on Monday, February 2nd. iA Financial set a $3.25 price objective on Paramount Gold Nevada in a report on Monday, February 2nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Paramount Gold Nevada currently has an average rating of “Buy” and a consensus target price of $3.25.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PZG. Hollencrest Capital Management purchased a new stake in Paramount Gold Nevada in the fourth quarter worth $181,000. State Street Corp increased its holdings in Paramount Gold Nevada by 42.4% during the 4th quarter. State Street Corp now owns 282,289 shares of the basic materials company’s stock worth $356,000 after acquiring an additional 84,100 shares during the period. Thompson Davis & CO. Inc. purchased a new stake in shares of Paramount Gold Nevada in the fourth quarter worth $27,000. Geode Capital Management LLC boosted its position in shares of 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 valued at $373,000 after acquiring an additional 34,614 shares during the last quarter. Finally, Captrust Financial Advisors purchased a new position in shares of Paramount Gold Nevada during the second quarter worth about $77,000. 4.51% of the stock is owned by institutional investors.

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.