Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) Stock Short Interest Report for October

Key Points

• Short interest surged 78.1% in October to 549,241 shares, representing about 0.7% of Paramount Gold Nevada’s outstanding shares and a days-to-cover ratio of 2.0.
• The stock fell 3.0% to $0.91, near its one-year low of $0.88, while trading below both its 50-day and 200-day moving averages.
• Institutional ownership stands at 4.51%, with investors including Tidal Investments, BlackRock, Bank of America, OMERS and Renaissance Technologies recently increasing or initiating positions.

Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG - Get Free Report) saw a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 549,241 shares, an increase of 78.1% from the September 30th total of 308,395 shares. Based on an average daily volume of 273,464 shares, the days-to-cover ratio is currently 2.0 days. Approximately 0.7% of the company's shares are short sold.

Paramount Gold Nevada Trading Down 3.0%

NYSEAMERICAN:PZG traded down $0.03 during trading hours on Friday, hitting $0.91. 223,462 shares of the company were exchanged, compared to its average volume of 264,634. The stock has a market capitalization of $78.76 million, a price-to-earnings ratio of -4.55 and a beta of 1.28. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.61. Paramount Gold Nevada has a one year low of $0.88 and a one year high of $2.71. The company has a fifty day simple moving average of $1.24 and a 200 day simple moving average of $1.50.

Institutional Trading of Paramount Gold Nevada

Institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC raised its holdings in Paramount Gold Nevada by 44.1% during the 2nd quarter. Tidal Investments LLC now owns 4,553,669 shares of the basic materials company's stock worth $5,191,000 after purchasing an additional 1,392,617 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Paramount Gold Nevada in the 2nd quarter valued at $457,000. Bank of America Corp DE boosted its stake in shares of Paramount Gold Nevada by 9,018.3% in the 1st quarter. Bank of America Corp DE now owns 140,330 shares of the basic materials company's stock valued at $233,000 after purchasing an additional 138,791 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new stake in shares of Paramount Gold Nevada in the 1st quarter valued at $105,000. Finally, 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 worth $2,103,000 after buying an additional 134,193 shares during the period. 4.51% of the stock is currently owned by institutional investors.

About Paramount Gold Nevada

Paramount Gold Nevada Corp. is a mineral exploration and development company focused on advancing gold projects in the western United States. The company's activities include acquiring, exploring, evaluating and developing properties with potential gold and precious-metal resources.

Paramount's principal assets include the Sleeper Gold Project in Humboldt County, Nevada, and the Grassy Mountain Gold Project in Malheur County, Oregon. The Sleeper project is a historic, high-grade gold and silver mining district that Paramount is evaluating for potential redevelopment.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.