Short Interest in Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) Decreases By 40.2%

Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) was the recipient of a large decline in short interest in June. As of June 15th, there was short interest totaling 705,477 shares, a decline of 40.2% from the May 31st total of 1,178,935 shares. Approximately 0.9% of the company’s shares are short sold. Based on an average daily volume of 668,958 shares, the short-interest ratio is presently 1.1 days.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners reissued a “buy” rating on shares of Paramount Gold Nevada in a research note on Monday, June 22nd. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $3.25.

Institutional Trading of Paramount Gold Nevada

Hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC raised its holdings in Paramount Gold Nevada by 11.8% in the first quarter. Renaissance Technologies LLC now owns 1,266,824 shares of the basic materials company’s stock worth $2,103,000 after buying an additional 134,193 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Paramount Gold Nevada by 11.3% during the second quarter. Tidal Investments LLC now owns 997,102 shares of the basic materials company’s stock valued at $611,000 after buying an additional 101,180 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Paramount Gold Nevada by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 636,319 shares of the basic materials company’s stock valued at $802,000 after buying an additional 36,324 shares during the last quarter. Sei Investments Co. bought a new stake in shares of Paramount Gold Nevada during the first quarter valued at approximately $665,000. Finally, State Street Corp increased its position in shares of Paramount Gold Nevada by 42.4% during the fourth quarter. State Street Corp now owns 282,289 shares of the basic materials company’s stock valued at $356,000 after acquiring an additional 84,100 shares in the last quarter. Institutional investors own 4.51% of the company’s stock.

Paramount Gold Nevada Stock Up 3.5%

Shares of NYSEAMERICAN PZG traded up $0.04 during mid-day trading on Wednesday, hitting $1.18. 438,872 shares of the stock traded hands, compared to its average volume of 1,233,121. The company has a market cap of $101.22 million, a price-to-earnings ratio of -5.36 and a beta of 1.18. The stock has a fifty day moving average price of $1.34 and a 200-day moving average price of $1.60. Paramount Gold Nevada has a 52 week low of $0.59 and a 52 week high of $2.71. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.71 and a current ratio of 2.71.

Paramount Gold Nevada Company Profile

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.