Pershing Gold Corp (PGLC) Expected to Post Earnings of -$0.11 Per Share

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Analysts expect Pershing Gold Corp (NASDAQ:PGLC) to post earnings per share of ($0.11) for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Pershing Gold’s earnings. Pershing Gold reported earnings per share of ($0.18) during the same quarter last year, which suggests a positive year-over-year growth rate of 38.9%. The company is scheduled to issue its next quarterly earnings report on Wednesday, March 27th.

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

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

A number of research analysts have recently commented on the company. Zacks Investment Research raised Pershing Gold from a “sell” rating to a “hold” rating in a report on Friday, November 2nd. HC Wainwright lowered their price objective on Pershing Gold from $6.00 to $3.25 and set a “buy” rating on the stock in a report on Tuesday, October 9th. ValuEngine raised Pershing Gold from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Finally, Noble Financial reissued a “buy” rating and set a $4.00 price objective on shares of Pershing Gold in a report on Friday, August 17th.

Shares of NASDAQ PGLC traded down $0.06 during mid-day trading on Thursday, reaching $1.00. 164,636 shares of the company traded hands, compared to its average volume of 87,401. The firm has a market cap of $39.06 million, a price-to-earnings ratio of -2.00 and a beta of 0.29. Pershing Gold has a fifty-two week low of $0.80 and a fifty-two week high of $3.10.

In other Pershing Gold news, Director Barry C. Honig bought 1,634,810 shares of the stock in a transaction on Tuesday, August 28th. The shares were purchased at an average price of $1.61 per share, with a total value of $2,632,044.10. Following the acquisition, the director now directly owns 3,094,600 shares of the company’s stock, valued at approximately $4,982,306. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 37.10% of the company’s stock.

A hedge fund recently raised its stake in Pershing Gold stock. Renaissance Technologies LLC raised its holdings in Pershing Gold Corp (NASDAQ:PGLC) by 152.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 122,186 shares of the basic materials company’s stock after buying an additional 73,786 shares during the quarter. Renaissance Technologies LLC owned 0.36% of Pershing Gold worth $148,000 at the end of the most recent quarter. 20.69% of the stock is 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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