A number of other equities research analysts have also weighed in on PGLC. Zacks Investment Research lowered shares of Pershing Gold Corporation from a buy rating to a hold rating in a report on Tuesday, August 15th. HC Wainwright reissued a buy rating and set a $10.00 target price on shares of Pershing Gold Corporation in a report on Tuesday, October 31st.
Pershing Gold Corporation (NASDAQ PGLC) opened at $2.91 on Wednesday. Pershing Gold Corporation has a 12-month low of $2.60 and a 12-month high of $3.94.
Pershing Gold Corporation (NASDAQ:PGLC) last posted its earnings results on Monday, November 13th. The basic materials company reported ($0.09) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.01. analysts predict that Pershing Gold Corporation will post -0.5 earnings per share for the current year.
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In other Pershing Gold Corporation news, Director Barry C. Honig bought 10,000 shares of Pershing Gold Corporation stock in a transaction on Thursday, September 7th. The shares were purchased at an average cost of $3.01 per share, with a total value of $30,100.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Barry C. Honig bought 50,000 shares of Pershing Gold Corporation stock in a transaction on Friday, November 10th. The shares were acquired at an average cost of $2.87 per share, for a total transaction of $143,500.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 180,813 shares of company stock worth $531,592 over the last three months. Insiders own 36.80% of the company’s stock.
An institutional investor recently raised its position in Pershing Gold Corporation stock. Cambridge Investment Research Advisors Inc. grew its position in Pershing Gold Corporation (NASDAQ:PGLC) by 42.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 450,624 shares of the basic materials company’s stock after purchasing an additional 133,640 shares during the quarter. Cambridge Investment Research Advisors Inc. owned approximately 1.59% of Pershing Gold Corporation worth $1,257,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 19.72% of the company’s stock.
Pershing Gold Corporation Company Profile
Pershing Gold Corporation is a gold and precious metals exploration company. The Company focuses on exploration, development and mining opportunities in Nevada. The Company is focused on exploration at its Relief Canyon properties in Pershing County in northwestern Nevada. The Company operates its business directly and also through its subsidiary, Gold Acquisition Corp.
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