Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) Sees Large Increase in Short Interest

Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) saw a significant growth in short interest in January. As of January 30th, there was short interest totaling 642,447 shares, a growth of 77.4% from the January 15th total of 362,223 shares. Based on an average daily volume of 3,750,014 shares, the short-interest ratio is currently 0.2 days. Currently, 0.9% of the company’s stock are sold short. Currently, 0.9% of the company’s stock are sold short. Based on an average daily volume of 3,750,014 shares, the short-interest ratio is currently 0.2 days.

Institutional Investors Weigh In On Paramount Gold Nevada

Large investors have recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. purchased a new stake in Paramount Gold Nevada during the fourth quarter valued at about $27,000. Kovack Advisors Inc. bought a new position in Paramount Gold Nevada in the 4th quarter worth approximately $35,000. Osaic Holdings Inc. grew its stake in Paramount Gold Nevada by 531.1% in the 2nd quarter. Osaic Holdings Inc. now owns 67,095 shares of the basic materials company’s stock valued at $41,000 after buying an additional 56,463 shares in the last quarter. Captrust Financial Advisors purchased a new position in Paramount Gold Nevada in the 2nd quarter valued at approximately $77,000. Finally, Jane Street Group LLC raised its holdings in Paramount Gold Nevada by 502.5% during the 4th quarter. Jane Street Group LLC now owns 143,612 shares of the basic materials company’s stock valued at $181,000 after acquiring an additional 119,775 shares during the period. Hedge funds and other institutional investors own 4.51% of the company’s stock.

Wall Street Analysts Forecast Growth

PZG has been the subject of a number of recent analyst reports. iA Financial set a $3.25 price objective on shares of Paramount Gold Nevada in a research report on Monday, February 2nd. Alliance Global Partners reiterated a “buy” rating on shares of Paramount Gold Nevada in a report on Monday, February 2nd. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $3.25.

Paramount Gold Nevada Stock Performance

PZG traded up $0.03 during midday trading on Friday, reaching $2.20. The company had a trading volume of 816,937 shares, compared to its average volume of 3,049,909. Paramount Gold Nevada has a 12-month low of $0.34 and a 12-month high of $2.61. The business has a 50-day moving average price of $1.48 and a two-hundred day moving average price of $1.20. The stock has a market cap of $184.38 million, a PE ratio of -11.00 and a beta of 1.31. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.32 and a current ratio of 1.01.

Paramount Gold Nevada (NYSEAMERICAN:PZG) last posted its quarterly earnings results on Friday, November 14th. The basic materials company reported $0.06 EPS for the quarter.

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.