What are the investment strengths of Paramount Gold Nevada Corp (PZG)?

PPE of 49.1M (90% of assets) represents Grassy Mountain project value. EV of 97.5M implies modest 2x multiple on hard assets if permitting succeeds. Debt/Equity of 0.37 with 11.7M total debt is manageable; tangible book of 31.5M provides downside floor if asset sale occurs.

What are the investment risks for Paramount Gold Nevada Corp (PZG)?

ROE of -34%, ROA of -22%, ROIC of -26% TTM with zero revenue - pure cash incinerator with no visibility to profitability. Interest expense of 1.7M TTM on 11.7M debt (14.5% effective rate) compounds burn; refinancing risk if gold prices decline.

Paramount Gold Nevada Corp

PZG

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Paramount Gold Nevada Corp AI Insights

Informational only. Not investment advice.

As of 2025-12-24

Snapshot

Zero revenue TTM with -11.8M net loss - pre-production gold explorer burning 6.3M FCF annually while developing Grassy Mountain project.[Total Revenue TTM]
Cash runway critical: 4.2M cash vs 6.2M annual burn rate implies <8 months liquidity without dilution.[Cash and Equivalents]
P/B of 2.85x on 31.5M book value - market pricing 58M premium for undeveloped mineral assets (49M PPE).[P/B Ratio]

Watch Triggers

Cash and Equivalents: Falls below 2M — Forces immediate dilutive financing or asset sale at distressed terms
Issuance of Capital Stock: Exceeds 5M quarterly — Accelerating dilution signals funding desperation
Total Revenue TTM: Any positive revenue — Would signal production milestone and thesis change from explorer to producer

Bull Case

PPE of 49.1M (90% of assets) represents Grassy Mountain project value. EV of 97.5M implies modest 2x multiple on hard assets if permitting succeeds.

PPEEnterprise Value

Debt/Equity of 0.37 with 11.7M total debt is manageable; tangible book of 31.5M provides downside floor if asset sale occurs.

Debt to EquityTangible Book Value

Bear Case

ROE of -34%, ROA of -22%, ROIC of -26% TTM with zero revenue - pure cash incinerator with no visibility to profitability.

ROE TTMROA TTMROIC TTM

Interest expense of 1.7M TTM on 11.7M debt (14.5% effective rate) compounds burn; refinancing risk if gold prices decline.

Interest Expense TTMLong Term Debt

Bull vs Bear Balance

AI-generated sentiment analysis based on fundamental metrics and market conditions.

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Forward Thesis

Equity dilution likely within 12 months as cash burn exceeds current liquidity.

3-12mhigh

4.2M cash vs 6.2M annual cash outflow TTM
1.9M stock issuance TTM signals ongoing dilution pattern
Zero revenue timeline extends burn period

FCF TTM: -6.3MIssuance of Capital Stock TTM: 1.9MCash position: 4.2M

Valuation Context

Caveats

PZG Fundamentals

Manufacturing → Fabricated Metal Product Manufacturing

Metric	Value	Industry Percentile
Market Cap	$115.81M	—
Enterprise Value	$114.87M	—
P/E Ratio	0.00	—
Total Revenue - TTM	$0	—
Earnings Per Share (diluted) - TTM	$0.00	—
Operating Margin - TTM	0%	—
Net Margin - TTM	0%	—
Free Cash Flow - TTM	$0	—
Return on Common Equity - TTM	0%	—
Beta 5Y (Monthly)	unknown	—

PZG Dividend History

No dividends

PZG Stock Splits

No stock splits

PZG SEC Filings

Filing Date	Report Date	Report Type	Filing Link
05/12/26	03/31/26	10-Q	0001193125-26-219477
02/10/26	12/31/25	10-Q	0001193125-26-044779
11/14/25	09/30/25	10-Q	0001193125-25-281737
09/25/25	06/30/25	10-K	0001193125-25-217759
05/12/25	03/31/25	10-Q	0000950170-25-069293
02/12/25	12/31/24	10-Q	0000950170-25-018900
11/12/24	09/30/24	10-Q	0000950170-24-125424
09/26/24	06/30/24	10-K	0000950170-24-109633
05/14/24	03/31/24	10-Q	0000950170-24-059575
02/13/24	12/31/23	10-Q	0000950170-24-014581
11/09/23	09/30/23	10-Q	0000950170-23-062083
09/26/23	06/30/23	10-K	0000950170-23-049730
05/12/23	03/31/23	10-Q	0000950170-23-021808
02/10/23	12/31/22	10-Q	0000950170-23-002482
11/10/22	09/30/22	10-Q	0000950170-22-024512
10/13/22	06/30/22	10-K	0000950170-22-019552
05/10/22	03/31/22	10-Q	0000950170-22-009017
02/04/22	12/31/21	10-Q	0001564590-22-003947
11/09/21	09/30/21	10-Q	0001564590-21-055739
09/17/21	06/30/21	10-K	0001564590-21-048261
05/07/21	03/31/21	10-Q	0001564590-21-025259
02/05/21	12/31/20	10-Q	0001564590-21-004382
11/05/20	09/30/20	10-Q	0001564590-20-051388
09/25/20	06/30/20	10-K	0001564590-20-044687
05/07/20	03/31/20	10-Q	0001564590-20-022350
02/05/20	12/31/19	10-Q	0001564590-20-003461
11/06/19	09/30/19	10-Q	0001564590-19-040985
09/16/19	06/30/19	10-K	0001564590-19-034803
05/10/19	03/31/19	10-Q	0001564590-19-018247
02/07/19	12/31/18	10-Q	0001564590-19-002289
11/07/18	09/30/18	10-Q	0001564590-18-028016
09/11/18	06/30/18	10-K	0001564590-18-022959
05/10/18	03/31/18	10-Q	0001564590-18-013032
02/08/18	12/31/17	10-Q	0001564590-18-001603
11/07/17	09/30/17	10-Q	0001564590-17-022319
09/18/17	06/30/17	10-K	0001564590-17-018742
05/09/17	03/31/17	10-Q	0001564590-17-009928
02/09/17	12/31/16	10-Q	0001564590-17-001225
11/09/16	09/30/16	10-Q	0001564590-16-028662
09/16/16	06/30/16	10-K	0001564590-16-025274
05/10/16	03/31/16	10-Q	0001564590-16-018972
02/05/16	12/31/15	10-Q	0001564590-16-012401
11/10/15	09/30/15	10-Q	0001564590-15-010280
09/17/15	06/30/15	10-K	0001564590-15-008025
05/22/15	03/31/15	10-Q	0001564590-15-004572
04/10/15	12/31/14	424B3	0001567619-15-000482
11/10/15	09/30/14	10-Q	0001564590-15-010280
04/10/15	06/30/14	424B3	0001567619-15-000482
05/22/15	03/31/14	10-Q	0001564590-15-004572
04/10/15	12/31/13	424B3	0001567619-15-000482