Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) Short Interest Up 122.5% in April

Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) was the target of a large growth in short interest during the month of 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 company are sold short. Based on an average daily trading volume, of 697,852 shares, the short-interest ratio is currently 1.1 days.

Institutional Investors Weigh In On Paramount Gold Nevada

Hedge funds have recently modified their holdings of the company. Thompson Davis & CO. Inc. purchased a new position in Paramount Gold Nevada in the fourth quarter worth approximately $27,000. Kovack Advisors Inc. purchased a new position in Paramount Gold Nevada in the fourth quarter worth approximately $35,000. Osaic Holdings Inc. grew its position in Paramount Gold Nevada by 531.1% in the second quarter. Osaic Holdings Inc. now owns 67,095 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 56,463 shares during the period. Captrust Financial Advisors purchased a new position in Paramount Gold Nevada in the second quarter worth approximately $77,000. Finally, Trifecta Capital Advisors LLC purchased a new position in Paramount Gold Nevada in the first quarter worth approximately $79,000. Hedge funds and other institutional investors own 4.51% of the company’s stock.

Analysts Set New Price Targets

PZG has been the subject of several recent research reports. iA Financial set a $3.25 price target on Paramount Gold Nevada in a research note on Monday, February 2nd. Alliance Global Partners restated a “buy” rating on shares of Paramount Gold Nevada in a research note on Monday, February 2nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Paramount Gold Nevada has a consensus rating of “Buy” and an average target price of $3.25.

Paramount Gold Nevada Price Performance

Shares of Paramount Gold Nevada stock traded down $0.07 during trading hours on Friday, reaching $1.41. 2,735,686 shares of the company’s stock were exchanged, compared to its average volume of 931,030. 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 business has a fifty day moving average of $1.72 and a two-hundred day moving average of $1.58. The company has a market capitalization of $120.95 million, a P/E ratio of -6.41 and a beta of 1.20. Paramount Gold Nevada has a 1 year low of $0.45 and a 1 year high of $2.71.

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.