Analysts Expect Pershing Gold Corp (PGLC) to Announce -$0.11 EPS

Wall Street analysts expect Pershing Gold Corp (NASDAQ:PGLC) to report earnings per share of ($0.11) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Pershing Gold’s earnings. Pershing Gold reported earnings of ($0.18) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 38.9%. The business is expected to announce its next earnings results on Wednesday, March 27th.

On average, analysts expect that Pershing Gold will report full-year earnings of ($0.48) per share for the current year, with EPS estimates ranging from ($0.49) to ($0.46). For the next financial year, analysts expect that the business will report earnings of $0.09 per share. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Pershing Gold.

Pershing Gold (NASDAQ:PGLC) last released its quarterly earnings data on Tuesday, August 14th. The basic materials company reported ($0.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.02).

Several analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Pershing Gold from a “sell” rating to a “hold” rating in a research note on Friday, November 2nd. HC Wainwright lowered their target price on shares of Pershing Gold from $6.00 to $3.25 and set a “buy” rating on the stock in a research note on Tuesday, October 9th. ValuEngine upgraded shares of Pershing Gold from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. Finally, Noble Financial restated a “buy” rating and set a $4.00 price objective on shares of Pershing Gold in a research report on Friday, August 17th.

PGLC remained flat at $$1.33 on Thursday. 23,713 shares of the company traded hands, compared to its average volume of 125,088. Pershing Gold has a 52 week low of $0.80 and a 52 week high of $3.10. The company has a market cap of $47.48 million, a P/E ratio of -2.66 and a beta of 0.29.

In other Pershing Gold news, Director Barry C. Honig bought 1,634,810 shares of the firm’s stock in a transaction that occurred on Tuesday, August 28th. The shares were bought at an average price of $1.61 per share, for a total transaction of $2,632,044.10. Following the transaction, the director now directly owns 3,094,600 shares in the company, valued at $4,982,306. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 37.10% of the stock is owned by company insiders.

A hedge fund recently raised its stake in Pershing Gold stock. Ruffer LLP increased its holdings in Pershing Gold Corp (NASDAQ:PGLC) by 4.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,812,277 shares of the basic materials company’s stock after purchasing an additional 72,673 shares during the quarter. Ruffer LLP owned 5.39% of Pershing Gold worth $3,307,000 as of its most recent filing with the Securities & Exchange Commission. 21.26% of the stock is currently owned by institutional investors.

About Pershing Gold

Pershing Gold Corporation explores for, develops, and mines gold and precious metals in Nevada. It focuses on the exploration of the Relief Canyon properties covering an area of approximately 29,000 acres located in Pershing County in northwestern Nevada. The Relief Canyon properties include approximately 1,056 owned unpatented mining claims, 120 owned millsite claims, 143 leased unpatented mining claims, and 4,127 acres of leased and 3,739 acres of subleased private lands.

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