Shares of Pershing Gold Corp (NASDAQ:PGLC) have earned an average broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company. Pershing Gold’s rating score has declined by 100% from three months ago as a result of a number of analysts’ ratings changes.
Brokers have set a one year consensus price target of $3.63 for the company and are expecting that the company will post ($0.09) EPS for the current quarter, according to Zacks. Zacks has also assigned Pershing Gold an industry rank of 201 out of 255 based on the ratings given to related companies.
PGLC has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Pershing Gold from a “sell” rating to a “hold” rating in a report on Friday, September 7th. Noble Financial restated a “buy” rating and issued a $4.00 target price on shares of Pershing Gold in a report on Friday, August 17th. Finally, HC Wainwright dropped their target price on shares of Pershing Gold from $6.00 to $3.25 and set a “buy” rating on the stock in a report on Tuesday, October 9th.
Shares of Pershing Gold stock traded up $0.07 during trading on Monday, hitting $1.75. The company’s stock had a trading volume of 4,208 shares, compared to its average volume of 83,715. Pershing Gold has a 52 week low of $0.80 and a 52 week high of $3.11. The stock has a market cap of $40.69 million, a price-to-earnings ratio of -3.50 and a beta of 0.66.
Pershing Gold (NASDAQ:PGLC) last issued its quarterly earnings data on Tuesday, August 14th. The basic materials company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). As a group, equities research analysts anticipate that Pershing Gold will post -0.45 EPS for the current year.
In other news, Director Barry C. Honig bought 125,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 31st. The shares were acquired at an average price of $2.00 per share, for a total transaction of $250,000.00. Following the completion of the acquisition, the director now directly owns 2,520,600 shares in the company, valued at $5,041,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Barry C. Honig bought 82,854 shares of the company’s stock in a transaction that occurred on Tuesday, July 17th. The stock was purchased at an average price of $1.60 per share, for a total transaction of $132,566.40. Following the acquisition, the director now owns 2,395,600 shares of the company’s stock, valued at $3,832,960. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 1,842,664 shares of company stock worth $3,014,611. 37.10% of the stock is owned by company insiders.
A hedge fund recently raised its stake in Pershing Gold stock. Ruffer LLP boosted its position in Pershing Gold Corp (NASDAQ:PGLC) by 4.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,812,277 shares of the basic materials company’s stock after buying an additional 72,673 shares during the period. Ruffer LLP owned approximately 5.39% of Pershing Gold worth $3,307,000 at the end of the most recent quarter. 21.26% of the stock is owned by institutional investors.
About Pershing Gold
Pershing Gold Corporation explores for, develops, and mines gold and precious metals in Nevada. It focuses on the exploration of the Relief Canyon properties covering an area of approximately 29,000 acres located in Pershing County in northwestern Nevada. The Relief Canyon properties include approximately 1,056 owned unpatented mining claims, 120 owned millsite claims, 143 leased unpatented mining claims, and 4,127 acres of leased and 3,739 acres of subleased private lands.
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