Zacks Investment Research Lowers Paramount Gold Nevada (PZG) to Hold

Zacks Investment Research cut shares of Paramount Gold Nevada (NYSEAMERICAN:PZG) from a buy rating to a hold rating in a report published on Thursday.

According to Zacks, “Paramount Gold and Silver Corp. engages in the acquisition, exploration, and development of gold, silver, and precious metal properties primarily in Mexico. The Company’s primary objective is to explore and develop the San Miguel project. The project is located in Chihuahua, Mexico within the Sierra Madre Occidental gold/silver belt. The company will also continue to explore additional opportunities through joint ventures and acquisitions. The Company’s exploratory activities are concentrated within the San Miguel Groupings. “

A number of other research firms also recently issued reports on PZG. ValuEngine raised Paramount Gold Nevada from a strong sell rating to a sell rating in a research report on Friday, September 1st. HC Wainwright reissued a buy rating and set a $3.75 price target on shares of Paramount Gold Nevada in a research report on Monday, October 2nd.

Shares of Paramount Gold Nevada (PZG) opened at $1.28 on Thursday. Paramount Gold Nevada has a 1 year low of $1.16 and a 1 year high of $2.10.

In other Paramount Gold Nevada news, major shareholder Parent Co. Fcmi purchased 1,075,000 shares of the business’s stock in a transaction that occurred on Thursday, October 12th. The shares were acquired at an average price of $1.40 per share, for a total transaction of $1,505,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders bought 1,110,000 shares of company stock valued at $1,552,400 in the last ninety days. Company insiders own 3.70% of the company’s stock.

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Paramount Gold Nevada Company Profile

Paramount Gold Nevada Corp. is an exploration-stage mining company. The Company is engaged in the business of acquiring, exploring and developing precious metal projects in the United States. Its principal Nevada interest, the Sleeper Gold Project, is located in Humboldt County, Nevada. Its project located in Oregon, known as the Grassy Mountain Project, is situated in Malheur County, Oregon.

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