Pershing Gold Corp (NASDAQ:PGLC) has been given a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation.
Analysts have set a one year consensus price target of $5.75 for the company and are forecasting that the company will post ($0.10) EPS for the current quarter, according to Zacks. Zacks has also given Pershing Gold an industry rank of 203 out of 255 based on the ratings given to its competitors.
Several equities analysts have issued reports on the company. Zacks Investment Research lowered Pershing Gold from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Noble Financial reissued a “buy” rating and issued a $6.00 price target on shares of Pershing Gold in a research note on Wednesday, May 16th. Finally, HC Wainwright reissued a “buy” rating and issued a $8.75 price target on shares of Pershing Gold in a research note on Tuesday, May 8th.
Pershing Gold (NASDAQ:PGLC) last announced its earnings results on Monday, May 14th. The basic materials company reported ($0.12) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.01. research analysts anticipate that Pershing Gold will post -0.44 EPS for the current fiscal year.
In other news, Director Barry C. Honig purchased 125,000 shares of the business’s stock in a transaction dated Friday, June 15th. The stock was bought at an average price of $2.00 per share, for a total transaction of $250,000.00. Following the purchase, the director now owns 2,395,600 shares of the company’s stock, valued at $4,791,200. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Barry C. Honig purchased 20,000 shares of the business’s stock in a transaction dated Monday, May 21st. The shares were purchased at an average price of $1.91 per share, with a total value of $38,200.00. Following the purchase, the director now directly owns 2,395,600 shares in the company, valued at approximately $4,575,596. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 367,783 shares of company stock worth $696,349. Insiders own 37.10% of the company’s stock.
An institutional investor recently raised its position in Pershing Gold stock. Ruffer LLP lifted its position in shares of Pershing Gold Corp (NASDAQ:PGLC) by 4.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,812,277 shares of the basic materials company’s stock after acquiring an additional 72,673 shares during the quarter. Ruffer LLP owned approximately 5.39% of Pershing Gold worth $3,307,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 21.04% of the company’s stock.
Pershing Gold Company Profile
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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