Zacks: Pershing Gold Corporation (PGLC) Receives Consensus Recommendation of “Strong Buy” from Brokerages
Shares of Pershing Gold Corporation (NASDAQ:PGLC) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the four brokers that cover the company, Zacks Investment Research reports. Four equities research analysts have rated the stock with a strong buy recommendation.
Brokers have set a one year consensus price objective of $6.92 for the company and are forecasting that the company will post ($0.10) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Pershing Gold Corporation an industry rank of 109 out of 265 based on the ratings given to related companies.
PGLC has been the topic of a number of analyst reports. Zacks Investment Research cut shares of Pershing Gold Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. HC Wainwright reissued a “buy” rating and issued a $10.00 target price on shares of Pershing Gold Corporation in a research report on Tuesday, October 31st. Finally, Noble Financial reissued a “buy” rating on shares of Pershing Gold Corporation in a research report on Monday, August 21st.
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Pershing Gold Corporation (PGLC) opened at $2.86 on Friday. Pershing Gold Corporation has a one year low of $2.60 and a one year high of $4.10.
In other Pershing Gold Corporation news, Director Barry C. Honig purchased 10,000 shares of Pershing Gold Corporation stock in a transaction dated Thursday, September 7th. The stock was purchased at an average price of $3.01 per share, with a total value of $30,100.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Barry C. Honig purchased 18,493 shares of Pershing Gold Corporation stock in a transaction dated Wednesday, November 1st. The shares were acquired at an average cost of $2.88 per share, with a total value of $53,259.84. The disclosure for this purchase can be found here. In the last three months, insiders acquired 130,813 shares of company stock valued at $388,092. 39.84% of the stock is owned by insiders.
An institutional investor recently raised its position in Pershing Gold Corporation stock. Cambridge Investment Research Advisors Inc. increased its position in Pershing Gold Corporation (NASDAQ:PGLC) by 42.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 450,624 shares of the basic materials company’s stock after acquiring an additional 133,640 shares during the quarter. Cambridge Investment Research Advisors Inc. owned about 1.59% of Pershing Gold Corporation worth $1,257,000 at the end of the most recent quarter. 19.73% of the stock is owned by 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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