Insider Trading Report: Paramount Gold Nevada Corp (PZG)

Rachel Goldman, CEO at Paramount Gold Nevada Corp (PZG) recently picked up 15,000 shares. The buy doubled her stake in the firm, and came to a total price of just over $15,500.

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  • Insiders have been steady, incremental buyers of the gold mining venture over the past three years, upping their buys in early 2021. That includes both company insiders as well as major holders. Overall, insiders own nearly 22 percent of company shares.

    The gold mining stock is near 52-week lows, and shares are down 14 percent in the past year, far underperforming the overall stock market. That’s in spite of a strong rally for gold last year that petered out.

    Gold prices recently hit a double bottom and started moving higher. That could just lead to an uptrend in shares, or a full-blown rally to new all-time highs. Either move should be good for gold-related investments from here.

    Action to take: Shares of the company look somewhat undervalued relative to the mining claims it has in Nevada and Oregon. Gold stocks at the exploration level offer some of the biggest upside potential if they make a large find, as they can often then sell out to a more established player in the business.

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  • Shares look like a solid buy in the low $1 range, with the potential to move to $1.50 or $2.00 on higher gold prices or good news. The company is too small to offer options contracts at present, but at this low of a price, shares act like an option without the disadvantage of expiration.

     

    Disclosure: The author of this article has no positions in the stock mentioned here, and has no intention to make a trade on this company after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.