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

Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) saw a large increase in short interest during 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. Based on an average daily trading volume, of 3,750,014 shares, the short-interest ratio is presently 0.2 days. Approximately 0.9% of the shares of the company are short sold. Approximately 0.9% of the shares of the company are short sold. Based on an average daily trading volume, of 3,750,014 shares, the short-interest ratio is presently 0.2 days.

Paramount Gold Nevada Price Performance

Paramount Gold Nevada stock traded up $0.03 during trading hours on Friday, hitting $2.20. 816,937 shares of the company traded hands, compared to its average volume of 3,049,909. Paramount Gold Nevada has a 1-year low of $0.34 and a 1-year high of $2.61. The firm has a market cap of $184.38 million, a P/E ratio of -11.00 and a beta of 1.31. The firm’s 50-day simple moving average is $1.48 and its two-hundred day simple moving average is $1.19. The company has a quick ratio of 1.32, a current ratio of 1.01 and a debt-to-equity ratio of 0.66.

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

Institutional Trading of Paramount Gold Nevada

Institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its position in Paramount Gold Nevada by 29.3% in the 4th 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. Tidal Investments LLC raised its stake in shares of 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 purchasing an additional 101,180 shares in the last quarter. Geode Capital Management LLC lifted its stake in Paramount Gold Nevada by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 636,319 shares of the basic materials company’s stock worth $802,000 after purchasing an additional 36,324 shares during the period. State Street Corp boosted its stake in shares of Paramount Gold Nevada by 42.4% in the 4th quarter. State Street Corp now owns 282,289 shares of the basic materials company’s stock valued at $356,000 after purchasing an additional 84,100 shares in the last quarter. Finally, Hollencrest Capital Management acquired a new position in shares of Paramount Gold Nevada in the 4th quarter worth approximately $181,000. Institutional investors and hedge funds own 4.51% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on PZG shares. iA Financial set a $3.25 target price on shares of Paramount Gold Nevada in a report on Monday, February 2nd. Alliance Global Partners reaffirmed 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, Paramount Gold Nevada has an average rating of “Buy” and an average price target of $3.25.

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.