Short Interest in Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) Increases By 77.4%

Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) saw a large increase in short interest in the month of January. As of January 30th, there was short interest totaling 642,447 shares, an increase of 77.4% from the January 15th total of 362,223 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average daily volume of 3,750,014 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily volume of 3,750,014 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.9% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. iA Financial set a $3.25 price target on Paramount Gold Nevada in a report on Monday, February 2nd. Alliance Global Partners restated a “buy” rating on shares of Paramount Gold Nevada in a research report on Monday, February 2nd. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $3.25.

Paramount Gold Nevada Stock Performance

Paramount Gold Nevada stock traded up $0.03 during mid-day trading on Friday, reaching $2.20. 816,937 shares of the company traded hands, compared to its average volume of 3,049,909. The firm’s fifty day moving average is $1.48 and its two-hundred day moving average is $1.19. Paramount Gold Nevada has a fifty-two week low of $0.34 and a fifty-two week high of $2.61. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.32. The company has a market capitalization of $184.38 million, a price-to-earnings ratio of -11.00 and a beta of 1.31.

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

Hedge Funds Weigh In On Paramount Gold Nevada

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its position in shares of Paramount Gold Nevada by 6.0% during the second quarter. Geode Capital Management LLC now owns 607,801 shares of the basic materials company’s stock worth $373,000 after buying an additional 34,614 shares in the last quarter. Tidal Investments LLC grew its holdings in Paramount Gold Nevada by 11.3% during the 2nd quarter. Tidal Investments LLC now owns 997,102 shares of the basic materials company’s stock worth $611,000 after acquiring an additional 101,180 shares in the last quarter. Captrust Financial Advisors purchased a new stake in shares of Paramount Gold Nevada in the 2nd quarter valued at approximately $77,000. Osaic Holdings Inc. raised its holdings in shares of 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 purchasing an additional 56,463 shares in the last quarter. Finally, Thompson Davis & CO. Inc. purchased a new position in Paramount Gold Nevada in the fourth quarter valued at $27,000. 4.51% of the stock is currently owned by institutional investors and hedge funds.

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.