Tidal Investments LLC Purchases 1,392,617 Shares of Paramount Gold Nevada Corp. $PZG

Key Points

• Tidal Investments increased its Paramount Gold Nevada stake by 44.1% in the second quarter, purchasing 1,392,617 shares and bringing its holdings to 4,553,669 shares, or approximately 5.31% of the company.
• Other institutional investors, including BlackRock, Bank of America, Renaissance Technologies, and Sei Investments, also added or initiated positions. Institutional investors collectively own 4.51% of Paramount Gold Nevada.
• Wall Street sentiment remains positive: Alliance Global Partners reaffirmed a “Buy” rating, while the stock carries a consensus “Buy” rating and a target price of $3.25 versus its recent $1.32 opening price.

Tidal Investments LLC boosted its position in shares of Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG - Free Report) by 44.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,553,669 shares of the basic materials company's stock after purchasing an additional 1,392,617 shares during the quarter. Tidal Investments LLC owned about 5.31% of Paramount Gold Nevada worth $5,191,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new position in Paramount Gold Nevada in the second quarter worth about $457,000. Bank of America Corp DE grew its holdings in shares of Paramount Gold Nevada by 9,018.3% during the first quarter. Bank of America Corp DE now owns 140,330 shares of the basic materials company's stock valued at $233,000 after buying an additional 138,791 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new stake in shares of Paramount Gold Nevada during the first quarter valued at approximately $105,000. Renaissance Technologies LLC increased its position in shares of Paramount Gold Nevada by 11.8% during the first quarter. Renaissance Technologies LLC now owns 1,266,824 shares of the basic materials company's stock valued at $2,103,000 after acquiring an additional 134,193 shares in the last quarter. Finally, Sei Investments Co. purchased a new position in Paramount Gold Nevada in the 1st quarter worth approximately $665,000. 4.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners reaffirmed a "buy" rating on shares of Paramount Gold Nevada in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $3.25.

Paramount Gold Nevada Stock Performance

Shares of PZG stock opened at $1.32 on Monday. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average price of $1.32 and a 200-day moving average price of $1.50. Paramount Gold Nevada Corp. has a 52 week low of $0.95 and a 52 week high of $2.71. The firm has a market capitalization of $113.23 million, a PE ratio of -6.00 and a beta of 1.27.

Paramount Gold Nevada Profile

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.

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