Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) Short Interest Update

Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) was the target of a significant decline in short interest during the month of 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 sold short. Based on an average daily volume of 668,958 shares, the short-interest ratio is currently 1.1 days.

Paramount Gold Nevada Trading Up 3.5%

Shares of NYSEAMERICAN:PZG traded up $0.04 during midday trading on Wednesday, hitting $1.18. 438,872 shares of the stock traded hands, compared to its average volume of 1,233,121. The stock has a market capitalization of $101.22 million, a PE ratio of -5.36 and a beta of 1.18. The business’s 50 day moving average is $1.34 and its two-hundred day moving average is $1.60. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 0.57. Paramount Gold Nevada has a one year low of $0.59 and a one year high of $2.71.

Institutional Investors Weigh In On Paramount Gold Nevada

Several institutional investors and hedge funds have recently bought and sold shares of the business. Jane Street Group LLC increased its stake in shares of Paramount Gold Nevada by 502.5% during the fourth quarter. Jane Street Group LLC now owns 143,612 shares of the basic materials company’s stock valued at $181,000 after buying an additional 119,775 shares during the period. Bridgeway Capital Management LLC purchased a new stake in Paramount Gold Nevada in the fourth quarter worth $94,000. Captrust Financial Advisors purchased a new stake in Paramount Gold Nevada in the second quarter worth $77,000. Osaic Holdings Inc. boosted its holdings 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 valued at $41,000 after acquiring an additional 56,463 shares in the last quarter. Finally, Kovack Advisors Inc. bought a new stake in Paramount Gold Nevada in the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 4.51% of the company’s stock.

Analysts Set New Price Targets

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

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.