UPDATE: Roth Capital Resumes Paramount Gold Nevada Corp. (PZG) at Buy
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Roth Capital analyst Joe Reagor resumes coverage on Paramount Gold Nevada Corp. (NYSE: PZG) with a Buy rating and a price target of $1.80.
The analyst comments "We believe PZG's management made a prudent decision by deemphasizing the Sleeper Mine following the decline in the gold price in 2012-2014. However, we believe the project presents a significant opportunity now that the price of gold has recovered. Ultimately, we believe the best way for management to unlock this value is to enter into a JV with a producing mining company that would allow the project to be funded by the partner."
Shares of Paramount Gold Nevada Corp. closed at $1.08 yesterday.
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