Paramount Gold Nevada (NYSEAMERICAN:PZG) Shares Down 4.8% – What’s Next?

Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) dropped 4.8% during mid-day trading on Friday . The stock traded as low as $0.35 and last traded at $0.35. Approximately 112,884 shares changed 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 market cap of $23.98 million, a price-to-earnings ratio of -2.96 and a beta of 1.92. The company has a debt-to-equity ratio of 0.43, a quick ratio of 8.94 and a current ratio of 8.94.

Institutional Trading of Paramount Gold Nevada

Several institutional investors have recently added to or reduced their stakes in PZG. Tidal Investments LLC bought a new position in Paramount Gold Nevada during the 4th quarter worth approximately $282,000. Sprott Inc. raised its position 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 valued at $599,000 after acquiring an additional 648,464 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Paramount Gold Nevada by 57.5% during the third quarter. Geode Capital Management LLC now owns 539,967 shares of the basic materials company’s stock worth $218,000 after purchasing an additional 197,113 shares during the last quarter. 4.51% of the stock is owned by institutional investors and hedge funds.

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.