Paramount Gold Nevada (NYSEAMERICAN:PZG) Posts Earnings Results

Paramount Gold Nevada (NYSEAMERICAN:PZG) issued its quarterly earnings data on Thursday. The basic materials company reported ($0.02) earnings per share for the quarter, FiscalAI reports.

Paramount Gold Nevada Price Performance

PZG opened at $1.33 on Friday. The firm has a market cap of $114.09 million, a PE ratio of -6.05 and a beta of 1.27. The stock has a 50-day moving average price of $1.33 and a 200-day moving average price of $1.47. Paramount Gold Nevada has a 1 year low of $0.95 and a 1 year high of $2.71. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.71 and a quick ratio of 2.71.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tidal Investments LLC increased its position in shares of Paramount Gold Nevada by 44.1% during the second quarter. Tidal Investments LLC now owns 4,553,669 shares of the basic materials company’s stock valued at $5,191,000 after acquiring an additional 1,392,617 shares in the last quarter. Sei Investments Co. bought a new position in Paramount Gold Nevada in the 1st quarter valued at approximately $665,000. BlackRock Inc. purchased a new stake in Paramount Gold Nevada during the 2nd quarter valued at $457,000. Bank of America Corp DE boosted its stake in Paramount Gold Nevada by 9,018.3% during the 1st quarter. Bank of America Corp DE now owns 140,330 shares of the basic materials company’s stock valued at $233,000 after purchasing an additional 138,791 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of Paramount Gold Nevada in the 1st quarter worth $105,000. Institutional investors own 4.51% of the company’s stock.

Wall Street Analyst Weigh In

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

About Paramount Gold Nevada

Paramount Gold Nevada Corp. is a mineral exploration and development company focused on precious metals projects in the United States. The company’s activities include acquiring, evaluating, exploring, and advancing properties with the potential to host gold and other valuable minerals.

Paramount Gold Nevada’s principal assets include the Sleeper Gold Project in Humboldt County, Nevada, and the Grassy Mountain Gold Project in Malheur County, Oregon. The Sleeper property is a former producing gold and silver mine that the company is evaluating for potential redevelopment, while Grassy Mountain is an exploration and development project targeting gold and silver mineralization.

The company was previously known as Paramount Gold and Silver Corp.