Pershing Gold Corp (PGLC) Director Acquires $36,491.18 in Stock

Pershing Gold Corp (NASDAQ:PGLC) Director Barry C. Honig purchased 15,079 shares of the business’s stock in a transaction on Thursday, January 18th. The shares were bought at an average price of $2.42 per share, for a total transaction of $36,491.18. Following the acquisition, the director now owns 2,416,392 shares in the company, valued at $5,847,668.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Pershing Gold Corp (NASDAQ PGLC) opened at $2.42 on Friday. The stock has a market capitalization of $69.02, a PE ratio of -4.48 and a beta of 0.90. Pershing Gold Corp has a 1 year low of $2.26 and a 1 year high of $3.40.

Pershing Gold (NASDAQ:PGLC) last released its quarterly earnings data on Monday, November 13th. The basic materials company reported ($0.09) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. research analysts predict that Pershing Gold Corp will post -0.45 EPS for the current year.

Several research firms have recently issued reports on PGLC. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Pershing Gold in a research report on Tuesday, October 31st. Zacks Investment Research raised Pershing Gold from a “hold” rating to a “buy” rating and set a $3.25 price objective for the company in a research report on Saturday, November 18th. Finally, Noble Financial reaffirmed a “buy” rating on shares of Pershing Gold in a research report on Wednesday, November 15th.

A hedge fund recently raised its stake in Pershing Gold stock. Vanguard Group Inc. lifted its position in Pershing Gold Corp (NASDAQ:PGLC) by 5.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 614,718 shares of the basic materials company’s stock after purchasing an additional 29,018 shares during the quarter. Vanguard Group Inc. owned approximately 2.16% of Pershing Gold worth $1,715,000 at the end of the most recent quarter. Institutional investors and hedge funds own 19.49% of the company’s stock.

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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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