Paramount Gold Nevada (NYSEAMERICAN:PZG) Shares Pass Below 50-Day Moving Average – Time to Sell?

Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG)’s stock price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $1.98 and traded as low as $1.94. Paramount Gold Nevada shares last traded at $1.96, with a volume of 904,954 shares changing hands.

Analyst Ratings Changes

PZG has been the topic of a number of analyst reports. iA Financial set a $3.25 target price on Paramount Gold Nevada in a research report on Monday, February 2nd. Alliance Global Partners reissued a “buy” rating on shares of Paramount Gold Nevada in a report on Monday, February 2nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $3.25.

Paramount Gold Nevada Trading Down 4.4%

The firm has a market cap of $164.27 million, a P/E ratio of -9.80 and a beta of 1.24. The business’s 50 day moving average is $1.98 and its 200-day moving average is $1.44. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66.

Institutional Investors Weigh In On Paramount Gold Nevada

A number of institutional investors have recently modified their holdings of PZG. Renaissance Technologies LLC lifted its position in shares of Paramount Gold Nevada by 29.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,132,631 shares of the basic materials company’s stock worth $1,427,000 after purchasing an additional 256,431 shares during the last quarter. Geode Capital Management LLC increased its holdings in Paramount Gold Nevada by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 636,319 shares of the basic materials company’s stock valued at $802,000 after buying an additional 36,324 shares during the last quarter. Tidal Investments LLC increased its holdings in Paramount Gold Nevada by 11.3% in the second quarter. Tidal Investments LLC now owns 997,102 shares of the basic materials company’s stock valued at $611,000 after buying an additional 101,180 shares during the last quarter. State Street Corp raised its stake in Paramount Gold Nevada by 42.4% during the fourth quarter. State Street Corp now owns 282,289 shares of the basic materials company’s stock valued at $356,000 after buying an additional 84,100 shares in the last quarter. Finally, NewEdge Advisors LLC acquired a new stake in Paramount Gold Nevada during the fourth quarter valued at approximately $207,000. Institutional investors and hedge funds own 4.51% of the company’s stock.

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.