Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) Short Interest Down 33.8% in August

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

Institutional Trading of Paramount Gold Nevada

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Tidal Investments LLC boosted its stake in Paramount Gold Nevada by 44.1% during the 2nd quarter. Tidal Investments LLC now owns 4,553,669 shares of the basic materials company’s stock worth $5,191,000 after purchasing an additional 1,392,617 shares during the last quarter. Sei Investments Co. acquired a new stake in shares of Paramount Gold Nevada in the first quarter valued at about $665,000. BlackRock Inc. acquired a new stake in shares of Paramount Gold Nevada in the second quarter valued at about $457,000. Bank of America Corp DE lifted its stake in shares of 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 buying an additional 138,791 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of Paramount Gold Nevada in the first quarter worth about $105,000. Hedge funds and other institutional investors own 4.51% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners reiterated 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 company currently has a consensus rating of “Buy” and a consensus target price of $3.25.

Paramount Gold Nevada Stock Performance

Shares of PZG stock opened at $1.35 on Friday. Paramount Gold Nevada has a 52-week low of $0.95 and a 52-week high of $2.71. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 0.57. The stock has a market cap of $115.80 million, a PE ratio of -6.75 and a beta of 1.27. The business has a 50-day simple moving average of $1.33 and a 200-day simple moving average of $1.47.

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.