Paramount Gold Nevada (NYSEAMERICAN:PZG) Trading Down 4.8% – Here’s Why

Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) was down 4.8% during mid-day trading on Friday . The stock traded as low as $0.35 and last traded at $0.35. 112,884 shares traded hands during mid-day trading, a decline of 15% from the average daily volume of 132,427 shares. The stock had previously closed at $0.37.

Paramount Gold Nevada Stock Down 4.8 %

The company has a debt-to-equity ratio of 0.43, a current ratio of 8.94 and a quick ratio of 8.94. The stock has a market capitalization of $23.98 million, a price-to-earnings ratio of -2.96 and a beta of 1.92.

Institutional Investors Weigh In On Paramount Gold Nevada

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PZG. Geode Capital Management LLC grew its position in Paramount Gold Nevada by 57.5% in the third quarter. Geode Capital Management LLC now owns 539,967 shares of the basic materials company’s stock worth $218,000 after buying an additional 197,113 shares during the last quarter. Tidal Investments LLC acquired a new stake in shares of Paramount Gold Nevada during the 4th quarter valued at $282,000. Finally, Sprott Inc. boosted its stake in shares of Paramount Gold Nevada by 58.8% during the 4th quarter. Sprott Inc. now owns 1,751,883 shares of the basic materials company’s stock worth $599,000 after acquiring an additional 648,464 shares in the last quarter. Institutional investors 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.