Pershing Gold Corporation (PGLC) Director Barry C. Honig Purchases 15,000 Shares

Pershing Gold Corporation (NASDAQ:PGLC) Director Barry C. Honig bought 15,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was purchased at an average cost of $2.41 per share, for a total transaction of $36,150.00. Following the completion of the acquisition, the director now owns 2,386,313 shares in the company, valued at approximately $5,751,014.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of Pershing Gold Corporation (NASDAQ:PGLC) remained flat at $$2.40 on Wednesday. 191,800 shares of the stock were exchanged, compared to its average volume of 183,050. Pershing Gold Corporation has a one year low of $2.26 and a one year high of $3.49. The firm has a market cap of $84.49, a price-to-earnings ratio of -4.53 and a beta of 0.88.

Pershing Gold (NASDAQ:PGLC) last announced its quarterly earnings results on Monday, November 13th. The basic materials company reported ($0.09) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.01. sell-side analysts forecast that Pershing Gold Corporation will post -0.45 EPS for the current fiscal year.

An institutional investor recently raised its position in Pershing Gold stock. Vanguard Group Inc. grew its holdings in shares of Pershing Gold Corporation (NASDAQ:PGLC) by 5.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 614,718 shares of the basic materials company’s stock after purchasing an additional 29,018 shares during the period. Vanguard Group Inc. owned about 2.16% of Pershing Gold worth $1,715,000 at the end of the most recent quarter. 19.49% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently commented on the stock. Zacks Investment Research lowered shares of Pershing Gold from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Noble Financial reiterated a “buy” rating on shares of Pershing Gold in a research note on Wednesday, November 15th. Finally, HC Wainwright reiterated a “buy” rating and issued a $10.00 price target on shares of Pershing Gold in a research note on Tuesday, October 31st.

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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.

Insider Buying and Selling by Quarter for Pershing Gold (NASDAQ:PGLC)

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