Pershing Gold Corp (PGLC) Director Buys $36,150.00 in Stock

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

Shares of Pershing Gold Corp (PGLC) traded up $0.01 on Friday, hitting $2.42. 86,400 shares of the company’s stock were exchanged, compared to its average volume of 108,550. Pershing Gold Corp has a 1-year low of $2.26 and a 1-year high of $3.45. The firm has a market capitalization of $85.19, a PE ratio of -4.57 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) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. sell-side analysts anticipate that Pershing Gold Corp will post -0.45 earnings per share for the current year.

A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Pershing Gold from a “hold” rating to a “buy” rating and set a $3.25 target price on the stock in a research note on Saturday, November 18th. HC Wainwright reiterated a “buy” rating and set a $10.00 price target on shares of Pershing Gold in a research report on Tuesday, October 31st. Finally, Noble Financial reiterated a “buy” rating on shares of Pershing Gold in a research report on Wednesday, November 15th.

An institutional investor recently raised its position in Pershing Gold stock. Vanguard Group Inc. lifted its holdings in Pershing Gold Corp (NASDAQ:PGLC) by 5.0% in the second quarter, according to its most recent disclosure with the SEC. 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 approximately 2.16% of Pershing Gold worth $1,715,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 19.49% of the company’s stock.

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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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