Paramount Gold Nevada (NYSEAMERICAN:PZG) Shares Cross Above Fifty Day Moving Average – Here’s What Happened

Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $1.19 and traded as high as $1.47. Paramount Gold Nevada shares last traded at $1.44, with a volume of 637,974 shares.

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 equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $3.25.

Paramount Gold Nevada Stock Performance

The stock has a market cap of $123.52 million, a P/E ratio of -6.55 and a beta of 1.23. The firm has a 50 day moving average of $1.19 and a two-hundred day moving average of $1.59. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.71 and a current ratio of 2.71.

Institutional Investors Weigh In On Paramount Gold Nevada

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Kovack Advisors Inc. bought a new position in Paramount Gold Nevada during the fourth quarter worth $38,000. Geode Capital Management LLC grew its position in Paramount Gold Nevada by 6.0% in the 2nd quarter. Geode Capital Management LLC now owns 607,801 shares of the basic materials company’s stock worth $373,000 after purchasing an additional 34,614 shares during the last quarter. Trifecta Capital Advisors LLC acquired a new stake in Paramount Gold Nevada in the 1st quarter worth $79,000. Osaic Holdings Inc. increased its holdings in shares of Paramount Gold Nevada by 531.1% during the 2nd quarter. Osaic Holdings Inc. now owns 67,095 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 56,463 shares during the period. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Paramount Gold Nevada during the 1st quarter worth about $105,000. Institutional investors and hedge funds own 4.51% of the company’s stock.

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.