Paramount Gold Nevada (NYSEAMERICAN:PZG) Stock Price Up 2.7% – Should You Buy?

Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG)’s share price was up 2.7% during mid-day trading on Thursday . The stock traded as high as $1.16 and last traded at $1.16. Approximately 629,941 shares traded hands during trading, an increase of 39% from the average session volume of 453,712 shares. The stock had previously closed at $1.13.

Analysts Set New Price Targets

Separately, Alliance Global Partners reaffirmed 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, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $3.25.

Paramount Gold Nevada Stock Performance

The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.71 and a current ratio of 2.71. The firm’s 50 day moving average is $1.22 and its 200-day moving average is $1.60. The stock has a market capitalization of $99.50 million, a price-to-earnings ratio of -5.27 and a beta of 1.22.

Hedge Funds Weigh In On Paramount Gold Nevada

Several institutional investors and hedge funds have recently modified their holdings of the business. Bridgeway Capital Management LLC acquired a new stake in Paramount Gold Nevada in the fourth quarter valued at approximately $94,000. Kovack Advisors Inc. acquired a new position in shares of Paramount Gold Nevada during the 4th quarter worth approximately $38,000. Hollencrest Capital Management acquired a new position in shares of Paramount Gold Nevada during the 4th quarter worth approximately $181,000. Jane Street Group LLC lifted its position in shares of 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 buying an additional 119,775 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its position 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 valued at $41,000 after buying an additional 56,463 shares in the last quarter. Hedge funds and other institutional investors 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.