Paramount Gold Nevada (NYSEAMERICAN:PZG) Trading Up 2.7% - Should You Buy?

Key Points

• Paramount Gold Nevada (NYSEAMERICAN:PZG) rose 2.7% on Thursday, trading as high as $1.16 on volume of 629,941 shares, above its average session volume.
• Wall Street sentiment remains positive, with Alliance Global Partners reiterating a buy rating and MarketBeat showing a consensus Buy rating with an average price target of $3.25.
• The company remains a small-cap gold and silver explorer with a market value of about $99.5 million, and institutional ownership is still relatively low at 4.51% of shares outstanding.

Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG - Get Free Report) shot up 2.7% on Thursday . The company traded as high as $1.16 and last traded at $1.16. 629,941 shares changed hands during trading, an increase of 39% from the average session volume of 453,712 shares. The stock had previously closed at $1.13.

Wall Street Analysts Forecast Growth

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

Paramount Gold Nevada Stock Up 2.7%

The stock has a market capitalization of $99.50 million, a PE ratio of -5.27 and a beta of 1.22. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.57. The company's 50-day moving average is $1.22 and its 200 day moving average is $1.60.

Institutional Trading of Paramount Gold Nevada

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PZG. Thompson Davis & CO. Inc. acquired a new position in shares of Paramount Gold Nevada in the fourth quarter valued at about $27,000. Kovack Advisors Inc. acquired a new stake in shares of Paramount Gold Nevada during the fourth quarter worth about $38,000. Trifecta Capital Advisors LLC acquired a new position in Paramount Gold Nevada in the 1st quarter worth approximately $79,000. OMERS ADMINISTRATION Corp acquired a new position in Paramount Gold Nevada in the 1st quarter worth approximately $105,000. Finally, Osaic Holdings Inc. raised its position in Paramount Gold Nevada by 531.1% during 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 last quarter. Institutional investors and hedge funds own 4.51% of the company's stock.

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.

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