Short Interest in Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) Decreases By 33.8%

Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) saw a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 271,902 shares, a drop of 33.8% from the August 15th total of 410,698 shares. Based on an average trading volume of 693,697 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.3% of the company’s shares are short sold.

Paramount Gold Nevada Trading Up 3.9%

PZG traded up $0.05 during trading on Thursday, hitting $1.33. The company’s stock had a trading volume of 170,139 shares, compared to its average volume of 1,007,187. The firm has a market capitalization of $114.09 million, a P/E ratio of -6.05 and a beta of 1.27. Paramount Gold Nevada has a twelve month low of $0.95 and a twelve month high of $2.71. The stock’s fifty day moving average price is $1.33 and its 200-day moving average price is $1.48. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 0.57.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PZG. Tidal Investments LLC increased its stake in Paramount Gold Nevada by 44.1% in 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 purchasing an additional 1,392,617 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Paramount Gold Nevada by 11.8% in the 1st quarter. Renaissance Technologies LLC now owns 1,266,824 shares of the basic materials company’s stock valued at $2,103,000 after buying an additional 134,193 shares during the period. Sei Investments Co. acquired a new position in Paramount Gold Nevada during the 1st quarter worth approximately $665,000. BlackRock Inc. bought a new position in Paramount Gold Nevada in the second quarter worth approximately $457,000. Finally, Bank of America Corp DE boosted its holdings in Paramount Gold Nevada by 9,018.3% in the first quarter. Bank of America Corp DE now owns 140,330 shares of the basic materials company’s stock worth $233,000 after acquiring an additional 138,791 shares in the last quarter. 4.51% of the stock is owned by institutional investors.

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.