Pershing Gold Corp (PGLC) Given Consensus Rating of “Buy” by Brokerages

Pershing Gold Corp (NASDAQ:PGLC) has been given a consensus broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company.

Brokers have set a 12 month consensus price target of $3.63 for the company, according to Zacks. Zacks has also assigned Pershing Gold an industry rank of 93 out of 255 based on the ratings given to its competitors.

Separately, Zacks Investment Research raised shares of Pershing Gold from a “sell” rating to a “hold” rating in a report on Saturday, December 1st.

Shares of NASDAQ:PGLC opened at $1.16 on Wednesday. Pershing Gold has a fifty-two week low of $0.80 and a fifty-two week high of $2.11.

An institutional investor recently raised its position in Pershing Gold stock. Renaissance Technologies LLC grew its position in Pershing Gold Corp (NASDAQ:PGLC) by 152.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 122,186 shares of the basic materials company’s stock after acquiring an additional 73,786 shares during the period. Renaissance Technologies LLC owned about 0.36% of Pershing Gold worth $148,000 at the end of the most recent quarter. Institutional investors own 22.50% of the company’s stock.

Pershing Gold Company Profile

Pershing Gold Corp. is a gold and precious metals exploration company, which engages in exploration, development and mining opportunities in Nevada. It focuses on exploration at Relief Canyon properties in Pershing County in northwestern Nevada. The company was founded on August 2, 2007 and is headquartered in Lakewood, CO.

Featured Story: Different Options Trading Strategies

Get a free copy of the Zacks research report on Pershing Gold (PGLC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Pershing Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pershing Gold and related companies with MarketBeat.com's FREE daily email newsletter.