Paramount Gold Nevada (NYSEAMERICAN:PZG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “Paramount Gold and Silver Corp. engages in the acquisition, exploration, and development of gold, silver, and precious metal properties primarily in Mexico. The Company’s primary objective is to explore and develop the San Miguel project. The project is located in Chihuahua, Mexico within the Sierra Madre Occidental gold/silver belt. The company will also continue to explore additional opportunities through joint ventures and acquisitions. The Company’s exploratory activities are concentrated within the San Miguel Groupings. “
PZG has been the topic of several other reports. HC Wainwright reiterated a “buy” rating and issued a $3.75 target price on shares of Paramount Gold Nevada in a report on Monday, October 2nd. ValuEngine upgraded shares of Paramount Gold Nevada from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st.
In related news, major shareholder Parent Co. Fcmi acquired 1,075,000 shares of the stock in a transaction dated Thursday, October 12th. The stock was bought at an average price of $1.40 per share, with a total value of $1,505,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have bought 1,110,000 shares of company stock valued at $1,552,400 in the last three months. 3.70% of the stock is owned by insiders.
About Paramount Gold Nevada
Paramount Gold Nevada Corp. is an exploration-stage mining company. The Company is engaged in the business of acquiring, exploring and developing precious metal projects in the United States. Its principal Nevada interest, the Sleeper Gold Project, is located in Humboldt County, Nevada. Its project located in Oregon, known as the Grassy Mountain Project, is situated in Malheur County, Oregon.
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