Shares of Pershing Gold Corp (NASDAQ:PGLC) have received a consensus broker rating score of 2.00 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. Pershing Gold’s rating score has declined by 100% in the last three months as a result of various analysts’ upgrades and downgrades.
Brokers have set a 1 year consensus target price 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 given Pershing Gold an industry rank of 227 out of 257 based on the ratings given to its competitors.
A number of research analysts recently commented on the company. HC Wainwright lowered their price objective on Pershing Gold from $6.00 to $3.25 and set a “buy” rating for the company in a research note on Tuesday, October 9th. Zacks Investment Research upgraded Pershing Gold from a “sell” rating to a “hold” rating in a research note on Friday, September 7th. Noble Financial restated a “buy” rating and set a $4.00 price objective on shares of Pershing Gold in a research note on Friday, August 17th. Finally, ValuEngine upgraded Pershing Gold from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th.
In related news, Director Barry C. Honig acquired 1,634,810 shares of the stock in a transaction that occurred on Tuesday, August 28th. The stock was purchased at an average cost of $1.61 per share, for a total transaction of $2,632,044.10. Following the purchase, the director now directly owns 3,094,600 shares in the company, valued at $4,982,306. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 37.10% of the stock is owned by corporate insiders.
An institutional investor recently raised its position in Pershing Gold stock. Ruffer LLP raised its holdings in shares of Pershing Gold Corp (NASDAQ:PGLC) by 4.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,812,277 shares of the basic materials company’s stock after buying an additional 72,673 shares during the quarter. Ruffer LLP owned about 5.39% of Pershing Gold worth $3,307,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 21.26% of the company’s stock.
Shares of PGLC opened at $1.41 on Friday. The firm has a market cap of $46.41 million, a P/E ratio of -2.82 and a beta of 0.29. Pershing Gold has a 12 month low of $0.80 and a 12 month high of $3.10.
Pershing Gold (NASDAQ:PGLC) last issued its quarterly earnings data on Tuesday, August 14th. The basic materials company reported ($0.13) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.02). On average, analysts anticipate that Pershing Gold will post -0.46 earnings per share for the current year.
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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