-$0.09 EPS Expected for Pershing Gold Corp (PGLC) This Quarter

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Equities research analysts predict that Pershing Gold Corp (NASDAQ:PGLC) will post ($0.09) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Pershing Gold’s earnings. Pershing Gold also reported earnings per share of ($0.09) in the same quarter last year. The company is expected to issue its next earnings report on Monday, November 12th.

On average, analysts expect that Pershing Gold will report full-year earnings of ($0.46) per share for the current financial year, with EPS estimates ranging from ($0.49) to ($0.43). For the next financial year, analysts anticipate that the firm will post earnings of $0.09 per share. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Pershing Gold.

Pershing Gold (NASDAQ:PGLC) last announced its earnings results on Tuesday, August 14th. The basic materials company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.02).

A number of equities analysts recently issued reports on PGLC shares. Zacks Investment Research upgraded shares of Pershing Gold from a “hold” rating to a “buy” rating and set a $2.00 target price for the company in a research report on Wednesday, July 11th. HC Wainwright reduced their price objective on shares of Pershing Gold from $6.00 to $3.25 and set a “buy” rating for the company in a research report on Tuesday, October 9th. 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.

In other Pershing Gold news, Director Barry C. Honig acquired 125,000 shares of Pershing Gold stock in a transaction dated Tuesday, July 31st. The stock was bought at an average price of $2.00 per share, for a total transaction of $250,000.00. Following the transaction, the director now owns 2,520,600 shares in the company, valued at approximately $5,041,200. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Barry C. Honig acquired 1,634,810 shares of Pershing Gold stock in a transaction dated Tuesday, August 28th. The shares were acquired at an average price of $1.61 per share, with a total value of $2,632,044.10. Following the transaction, the director now owns 3,094,600 shares in the company, valued at approximately $4,982,306. The disclosure for this purchase can be found here. Company insiders own 37.10% of the company’s stock.

A hedge fund recently raised its stake in Pershing Gold stock. Ruffer LLP grew its position in Pershing Gold Corp (NASDAQ:PGLC) by 4.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,812,277 shares of the basic materials company’s stock after buying an additional 72,673 shares during the quarter. Ruffer LLP owned approximately 5.39% of Pershing Gold worth $3,307,000 at the end of the most recent quarter. Institutional investors own 21.26% of the company’s stock.

Shares of PGLC opened at $1.55 on Friday. The stock has a market capitalization of $54.14 million, a P/E ratio of -3.10 and a beta of 0.66. Pershing Gold has a 52-week low of $0.80 and a 52-week high of $3.10.

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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