5 Best Silver Mining Penny Stocks to Buy

4. Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG)

On June 22, 2026, Alliance Global raised the firm’s price target on Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) to $4 from $3.25 and kept a Buy rating on the shares after the company announced an initial assessment for its Sleeper Gold Project in Nevada. Alliance Global said the assessment outlines an “economically robust” project and continues to view Sleeper as overlooked for Paramount Gold.

On June 17, Paramount Gold Nevada announced results of an Initial Assessment prepared in accordance with S-K 1300 for its 100%-owned Sleeper Gold Project, a past-producing gold mine in Humboldt County, Nevada. The assessment evaluates a potential restart of the historic Sleeper Mine through the processing of existing waste rock dumps and mining of in situ oxide and mixed Mineral Resources, using conventional open-pit mining and a 30,000 tonne per day crush-agglomerate-heap-leach processing facility with Merrill-Crowe recovery.

The project economics are based on assumed metal prices of $3,600 per ounce of gold and $48 per ounce of silver, including an after-tax net present value, or NPV, at an 8% discount rate of $402M, an after-tax internal rate of return, or IRR, of 44%, and a payback period of approximately 1.4 years. Assuming metal prices of $4,700 per ounce gold and $80 per ounce silver, the project’s after-tax NPV increases to $867M, with an IRR of 66% and a payback period of 1.2 years. Over a 17-year mine life, the assessment projects average annual gold production of approximately 65,000 ounces and total payable gold production of approximately 1.1 million ounces.

Paramount Gold Nevada Corp. (NYSEAMERICAN:PZG) engages in the acquisition, exploration, and development of precious metal properties in the United States.