Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) Short Interest Down 47.1% in March

Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) saw a significant drop in short interest during the month of March. As of March 13th, there was short interest totaling 401,094 shares, a drop of 47.1% from the February 26th total of 758,222 shares. Based on an average daily trading volume, of 1,233,309 shares, the short-interest ratio is presently 0.3 days. Approximately 0.5% of the shares of the company are sold short.

Institutional Trading of Paramount Gold Nevada

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Thompson Davis & CO. Inc. purchased a new stake in shares of Paramount Gold Nevada in the fourth quarter worth $27,000. Kovack Advisors Inc. purchased a new position in shares of Paramount Gold Nevada during the 4th quarter valued at $35,000. Osaic Holdings Inc. boosted its holdings in 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 worth $41,000 after buying an additional 56,463 shares during the period. Captrust Financial Advisors bought a new position in Paramount Gold Nevada in the 2nd quarter worth $77,000. Finally, Bridgeway Capital Management LLC purchased a new position in shares of Paramount Gold Nevada in the fourth quarter valued at about $94,000. Hedge funds and other institutional investors own 4.51% of the company’s stock.

Paramount Gold Nevada Trading Down 5.6%

Paramount Gold Nevada stock opened at $1.52 on Friday. Paramount Gold Nevada has a 52-week low of $0.34 and a 52-week high of $2.71. The company has a market cap of $127.39 million, a P/E ratio of -7.60 and a beta of 1.24. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. The business has a 50-day simple moving average of $2.03 and a two-hundred day simple moving average of $1.46.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Alliance Global Partners reissued a “buy” rating on shares of Paramount Gold Nevada in a research report on Monday, February 2nd. iA Financial set a $3.25 price target on shares of Paramount Gold Nevada in a report on Monday, February 2nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Paramount Gold Nevada currently has a consensus rating of “Buy” and an average target price 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.