Shares of Pershing Gold Corp (NASDAQ:PGLC) have received a consensus broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company.
Analysts have set a 1-year consensus price objective of $3.63 for the company and are expecting that the company will post ($0.11) earnings per share for the current quarter, according to Zacks. Zacks has also given Pershing Gold an industry rank of 46 out of 255 based on the ratings given to related companies.
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Separately, Zacks Investment Research upgraded Pershing Gold from a “hold” rating to a “buy” rating and set a $1.25 price objective on the stock in a research report on Friday, February 15th.
In related news, major shareholder Barry C. Honig purchased 126,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 20th. The shares were bought at an average price of $0.91 per share, for a total transaction of $114,660.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 37.10% of the stock is owned by company insiders.
A hedge fund recently raised its stake in Pershing Gold stock. Renaissance Technologies LLC increased its stake in Pershing Gold Corp (NASDAQ:PGLC) by 152.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 122,186 shares of the basic materials company’s stock after purchasing an additional 73,786 shares during the period. Renaissance Technologies LLC owned approximately 0.36% of Pershing Gold worth $148,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 21.20% of the company’s stock.
PGLC stock opened at $1.17 on Friday. The firm has a market cap of $39.40 million, a price-to-earnings ratio of -2.34 and a beta of 0.01. Pershing Gold has a fifty-two week low of $0.80 and a fifty-two week high of $2.11.
About Pershing Gold
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.
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