Pershing Gold Corporation (PGLC) Director Barry C. Honig Purchases 10,000 Shares

Pershing Gold Corporation (NASDAQ:PGLC) Director Barry C. Honig acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The stock was acquired at an average price of $2.41 per share, with a total value of $24,100.00. Following the acquisition, the director now owns 2,396,313 shares in the company, valued at $5,775,114.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of Pershing Gold Corporation (PGLC) traded up $0.09 on Friday, hitting $2.48. The company had a trading volume of 149,100 shares, compared to its average volume of 152,400. Pershing Gold Corporation has a 12 month low of $2.26 and a 12 month high of $3.48. The company has a market cap of $67.88, a PE ratio of -4.59 and a beta of 0.90.

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

A hedge fund recently raised its stake in Pershing Gold stock. Vanguard Group Inc. increased its position in Pershing Gold Corporation (NASDAQ:PGLC) by 5.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 614,718 shares of the basic materials company’s stock after acquiring an additional 29,018 shares during the quarter. Vanguard Group Inc. owned about 2.16% of Pershing Gold worth $1,715,000 as of its most recent SEC filing. Institutional investors own 19.49% of the company’s stock.

A number of analysts have weighed in on PGLC shares. Noble Financial reissued a “buy” rating on shares of Pershing Gold in a research report on Wednesday, November 15th. HC Wainwright reissued a “buy” rating and set a $10.00 target price on shares of Pershing Gold in a research report on Tuesday, October 31st. Finally, Zacks Investment Research downgraded shares of Pershing Gold from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th.

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About Pershing Gold

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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