Noble Financial analyst Mark Reichman maintained a Buy rating on Pershing Gold Corp (NASDAQ: PGLC) yesterday. The company’s shares closed yesterday at $1.10, close to its 52-week low of $1.07.
According to TipRanks.com, Reichman is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -18.8% and a 9.5% success rate. Reichman covers the Basic Materials sector, focusing on stocks such as Endeavour Silver Corp, Great Panther Silver, and Avino Silver & Gold.
Pershing Gold Corp has an analyst consensus of Moderate Buy, with a price target consensus of $6.
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Based on Pershing Gold Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $4.24 million. In comparison, last year the company had a GAAP net loss of $3.27 million.
Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PGLC in relation to earlier this year.
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Pershing Gold Corp. is a gold and precious metals exploration company, which engages in exploration, development and mining opportunities in Nevada. It focuses on exploration at Relief Canyon properties in Pershing County in northwestern Nevada. The company was founded on August 2, 2007 and is headquartered in Lakewood, CO.
