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

Paramount Gold Nevada (NYSEAMERICAN:PZG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday, Zacks.com reports.

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. “

Shares of Paramount Gold Nevada stock opened at $0.84 on Thursday. Paramount Gold Nevada has a 52-week low of $0.80 and a 52-week high of $1.64.

An institutional investor recently bought a new position in Paramount Gold Nevada stock. Hsbc Holdings PLC bought a new stake in Paramount Gold Nevada Corp (NYSEAMERICAN:PZG) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 270,000 shares of the basic materials company’s stock, valued at approximately $286,000. Hsbc Holdings PLC owned approximately 1.06% of Paramount Gold Nevada as of its most recent filing with the SEC. 2.01% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Gold Nevada Company Profile

Paramount Gold Nevada Corp., together with its subsidiaries, acquires, explores, and develops precious metal properties in the United States. The company primarily explores for gold and silver ores. Its principal property is the Sleeper gold project that comprises 2,322 unpatented mining claims totaling approximately 38,300 acres located in Humbolt County, Nevada.

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