Pershing Gold (PGLC) Upgraded to Hold at Zacks Investment Research
Pershing Gold (NASDAQ:PGLC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Pershing Gold Corporation is engaged in the exploration and development of gold and precious metal properties primarily in Nevada. The Company focuses on the exploration of Relief Canyon properties located in Pershing County in northwestern Nevada. Pershing Gold Corporation is based in Lakewood, Colorado. “
Several other equities analysts have also recently issued reports on the stock. HC Wainwright restated a “buy” rating and set a $8.75 target price on shares of Pershing Gold in a research note on Wednesday, January 24th. Noble Financial restated a “buy” rating on shares of Pershing Gold in a research note on Wednesday, November 15th.
Pershing Gold (NASDAQ:PGLC) last posted its earnings results on Monday, November 13th. The basic materials company reported ($0.09) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. equities analysts forecast that Pershing Gold will post -0.39 earnings per share for the current year.
In other Pershing Gold news, Director Barry C. Honig acquired 28,500 shares of the stock in a transaction dated Monday, December 18th. The shares were purchased at an average price of $2.54 per share, for a total transaction of $72,390.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Barry C. Honig acquired 65,000 shares of the stock in a transaction dated Monday, November 27th. The stock was acquired at an average price of $2.72 per share, for a total transaction of $176,800.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 310,370 shares of company stock worth $762,676 in the last 90 days. Company insiders own 36.80% of the company’s stock.
Several large investors have recently modified their holdings of PGLC. Spark Investment Management LLC bought a new position in shares of Pershing Gold in the 4th quarter worth approximately $111,000. Virtu Financial LLC bought a new position in shares of Pershing Gold in the 4th quarter worth approximately $184,000. Finally, Vanguard Group Inc. lifted its stake in shares of Pershing Gold by 5.0% in the 2nd quarter. Vanguard Group Inc. now owns 614,718 shares of the basic materials company’s stock worth $1,715,000 after purchasing an additional 29,018 shares during the period. Hedge funds and other institutional investors own 16.49% of the company’s stock.
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Pershing Gold 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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