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

Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 263,700 shares, a decline of 22.1% from the October 15th total of 338,600 shares. Based on an average daily volume of 112,800 shares, the days-to-cover ratio is currently 2.3 days.

Paramount Gold Nevada Price Performance

Paramount Gold Nevada stock traded up $0.02 on Friday, reaching $0.46. The company’s stock had a trading volume of 1,838,966 shares, compared to its average volume of 171,033. The company has a debt-to-equity ratio of 0.40, a quick ratio of 9.86 and a current ratio of 10.51. Paramount Gold Nevada has a twelve month low of $0.30 and a twelve month high of $0.69. The firm has a market cap of $30.25 million, a P/E ratio of -3.81 and a beta of 1.89.

Paramount Gold Nevada (NYSEAMERICAN:PZG) last posted its quarterly earnings data on Thursday, September 26th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Paramount Gold Nevada

A hedge fund recently raised its stake in Paramount Gold Nevada stock. Renaissance Technologies LLC lifted its holdings in shares of Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) by 88.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 670,904 shares of the basic materials company’s stock after purchasing an additional 314,304 shares during the period. Renaissance Technologies LLC owned 1.05% of Paramount Gold Nevada worth $268,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 4.51% of the company’s stock.

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.