Barry C. Honig Purchases 18,100 Shares of Pershing Gold Corporation (PGLC) Stock

Pershing Gold Corporation (NASDAQ:PGLC) Director Barry C. Honig acquired 18,100 shares of the stock in a transaction dated Friday, December 22nd. The shares were bought at an average cost of $2.38 per share, for a total transaction of $43,078.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Pershing Gold Corporation (NASDAQ PGLC) opened at $2.35 on Thursday. Pershing Gold Corporation has a twelve month low of $2.26 and a twelve month high of $3.49. The company has a market capitalization of $67.68, a P/E ratio of -4.43 and a beta of 0.87.

Pershing Gold (NASDAQ:PGLC) last posted its quarterly earnings results on Monday, November 13th. The basic materials company reported ($0.09) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.01. 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 holdings in Pershing Gold Corporation (NASDAQ:PGLC) by 5.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and 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 2.16% of Pershing Gold worth $1,715,000 as of its most recent SEC filing. 19.49% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have recently weighed in on the company. 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 on the stock 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.

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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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