Paramount Gold Nevada Corp. $PZG Shares Sold by Sprott Inc.

Key Points

• Sprott Inc. has reduced its holdings in Paramount Gold Nevada Corp. by 44.4%, selling 778,271 shares during the 1st quarter, leaving it with approximately 1.44% of the company's shares valued at $360,000.
• Analyst ratings for Paramount Gold Nevada remain positive, with a current average rating of "Buy" and a target price of $1.70 from brokerages.
• The company's stock recently traded down to $0.8423, with a market capitalization of $60.18 million and a PE ratio of -6.48.

Sprott Inc. lessened its holdings in shares of Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG - Free Report) by 44.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 973,612 shares of the basic materials company's stock after selling 778,271 shares during the period. Sprott Inc. owned 1.44% of Paramount Gold Nevada worth $360,000 at the end of the most recent reporting period.

Separately, Tidal Investments LLC acquired a new position in Paramount Gold Nevada during the fourth quarter worth $282,000. Institutional investors and hedge funds own 4.51% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PZG. Industrial Alliance Securities set a $1.70 price target on shares of Paramount Gold Nevada in a report on Monday, July 14th. Alliance Global Partners reissued a "buy" rating on shares of Paramount Gold Nevada in a research note on Monday, July 14th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $1.70.

Paramount Gold Nevada Trading Up 6.9%

PZG traded up $0.06 during trading hours on Wednesday, hitting $0.95. 1,155,645 shares of the company's stock were exchanged, compared to its average volume of 308,353. Paramount Gold Nevada Corp. has a 12-month low of $0.31 and a 12-month high of $0.98. The stock's 50 day moving average price is $0.69. The stock has a market cap of $67.88 million, a price-to-earnings ratio of -7.31 and a beta of 1.12. The company has a debt-to-equity ratio of 0.45, a quick ratio of 4.30 and a current ratio of 4.30.

Paramount Gold Nevada Company Profile

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.