Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) Sees Large Increase in Short Interest

Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) was the recipient of a significant increase in short interest in February. As of February 28th, there was short interest totalling 127,600 shares, an increase of 82.0% from the February 13th total of 70,100 shares. Based on an average daily volume of 117,100 shares, the short-interest ratio is presently 1.1 days. Approximately 0.2% of the shares of the stock are short sold.

Paramount Gold Nevada Stock Performance

NYSEAMERICAN PZG traded up $0.02 during trading on Friday, hitting $0.38. 126,137 shares of the stock traded hands, compared to its average volume of 133,734. The company has a debt-to-equity ratio of 0.43, a current ratio of 8.94 and a quick ratio of 8.94. Paramount Gold Nevada has a 12-month low of $0.31 and a 12-month high of $0.69. The stock has a market capitalization of $25.62 million, a PE ratio of -3.16 and a beta of 1.92.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PZG. Sprott Inc. lifted its position in Paramount Gold Nevada by 58.8% during the fourth quarter. Sprott Inc. now owns 1,751,883 shares of the basic materials company’s stock valued at $599,000 after purchasing an additional 648,464 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of Paramount Gold Nevada in the 4th quarter worth about $282,000. Finally, Geode Capital Management LLC raised its position in shares of Paramount Gold Nevada by 57.5% during the 3rd quarter. Geode Capital Management LLC now owns 539,967 shares of the basic materials company’s stock valued at $218,000 after buying an additional 197,113 shares in the last quarter. 4.51% of the stock is owned by hedge funds and other institutional investors.

About Paramount Gold Nevada

Paramount Gold Nevada Corp., together with its subsidiaries, engages in the acquisition, exploration, and development of precious metal properties in the United States. The company primarily explores for gold and silver deposits. It holds principal interest in the Sleeper gold project, which comprises 2,474 unpatented mining claims totaling approximately 44,917 acres located in Humbolt County, Nevada.