Pershing Gold Corporation’s (PGLC) “Buy” Rating Reiterated at HC Wainwright

Pershing Gold Corporation (NASDAQ:PGLC)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a report released on Tuesday, October 31st. They currently have a $10.00 price objective on the basic materials company’s stock. HC Wainwright’s price objective points to a potential upside of 249.65% from the stock’s current price.

PGLC has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Pershing Gold Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th. Noble Financial reissued a “buy” rating on shares of Pershing Gold Corporation in a report on Monday, August 21st.

Pershing Gold Corporation (NASDAQ:PGLC) remained flat at $$2.86 on Tuesday. The company’s stock had a trading volume of 318,200 shares, compared to its average volume of 61,965. Pershing Gold Corporation has a 1 year low of $2.60 and a 1 year high of $4.10.

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In other Pershing Gold Corporation news, Director Barry C. Honig acquired 18,795 shares of the company’s stock in a transaction on Monday, October 16th. The shares were acquired at an average cost of $2.99 per share, with a total value of $56,197.05. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Barry C. Honig acquired 15,000 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were acquired at an average cost of $3.02 per share, for a total transaction of $45,300.00. The disclosure for this purchase can be found here. Insiders purchased a total of 130,813 shares of company stock worth $388,092 over the last three months. 39.84% of the stock is owned by insiders.

An institutional investor recently raised its position in Pershing Gold Corporation stock. Vanguard Group Inc. raised its holdings in shares of Pershing Gold Corporation (NASDAQ:PGLC) by 5.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 Corporation worth $1,715,000 as of its most recent filing with the Securities & Exchange Commission. 19.73% of the stock is owned by institutional investors and hedge funds.

Pershing Gold Corporation 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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