Brokerages Expect Pershing Gold Corporation (PGLC) Will Post Earnings of -$0.06 Per Share
Equities research analysts expect Pershing Gold Corporation (NASDAQ:PGLC) to post earnings per share of ($0.06) for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Pershing Gold Corporation’s earnings. The highest EPS estimate is ($0.05) and the lowest is ($0.07). Pershing Gold Corporation posted earnings per share of ($0.21) in the same quarter last year, which suggests a positive year-over-year growth rate of 71.4%. The company is scheduled to issue its next quarterly earnings report on Friday, March 30th.
According to Zacks, analysts expect that Pershing Gold Corporation will report full year earnings of ($0.45) per share for the current fiscal year, with EPS estimates ranging from ($0.58) to ($0.37). For the next year, analysts anticipate that the company will post earnings of $0.17 per share, with EPS estimates ranging from ($0.37) to $0.47. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Pershing Gold Corporation.
Pershing Gold Corporation (NASDAQ:PGLC) last issued its quarterly earnings data on Monday, November 13th. The basic materials company reported ($0.09) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.01.
PGLC has been the subject of several research reports. Noble Financial reissued a “buy” rating on shares of Pershing Gold Corporation in a research note on Wednesday, November 15th. Zacks Investment Research downgraded shares of Pershing Gold Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. Finally, HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Pershing Gold Corporation in a research note on Tuesday, October 31st.
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Shares of Pershing Gold Corporation (NASDAQ:PGLC) traded down $0.02 during trading hours on Wednesday, reaching $2.81. 52,600 shares of the company traded hands, compared to its average volume of 83,880. Pershing Gold Corporation has a fifty-two week low of $2.60 and a fifty-two week high of $3.90.
In related news, Director Barry C. Honig purchased 10,000 shares of Pershing Gold Corporation stock in a transaction on Thursday, September 7th. The stock was acquired at an average cost of $3.01 per share, for a total transaction of $30,100.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Barry C. Honig purchased 50,000 shares of Pershing Gold Corporation stock in a transaction on Friday, November 10th. The stock was bought at an average price of $2.87 per share, with a total value of $143,500.00. The disclosure for this purchase can be found here. Insiders have bought 185,713 shares of company stock valued at $545,361 in the last ninety days. 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 holdings in shares of Pershing Gold Corporation (NASDAQ:PGLC) by 42.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 450,624 shares of the basic materials company’s stock after buying an additional 133,640 shares during the quarter. Cambridge Investment Research Advisors Inc. owned 1.59% of Pershing Gold Corporation worth $1,257,000 at the end of the most recent reporting period. 19.78% of the stock is owned by hedge funds and other institutional investors.
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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