Stock On Watch: Time to Buy Pershing Gold Corp After Today’s Significant Decline?

Stock On Watch: Time to Buy Pershing Gold Corp After Today's Significant Decline?

The stock of Pershing Gold Corp (NASDAQ:PGLC) is a huge mover today! About 68,950 shares traded hands. Pershing Gold Corp (NASDAQ:PGLC) has risen 23.60% since March 8, 2016 and is uptrending. It has outperformed by 14.28% the S&P500.
The move comes after 5 months negative chart setup for the $112.35 million company. It was reported on Oct, 11 by Barchart.com. We have $3.63 PT which if reached, will make NASDAQ:PGLC worth $14.61 million less.

Analysts await Pershing Gold Corp (NASDAQ:PGLC) to report earnings on November, 11. They expect $-0.14 earnings per share, up 48.15% or $0.13 from last year’s $-0.27 per share. After $-0.12 actual earnings per share reported by Pershing Gold Corp for the previous quarter, Wall Street now forecasts 16.67% negative EPS growth.

Pershing Gold Corp (NASDAQ:PGLC) Ratings Coverage

Out of 4 analysts covering Pershing Gold (NASDAQ:PGLC), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Pershing Gold has been the topic of 6 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The rating was maintained by Noble Financial with “Buy” on Thursday, June 30. The firm has “Buy” rating by H.C. Wainwright given on Monday, July 27. Euro Pacific Capital initiated it with “Buy” rating and $6.80 target price in Wednesday, August 12 report. Roth Capital initiated Pershing Gold Corp (NASDAQ:PGLC) rating on Monday, April 4. Roth Capital has “Buy” rating and $6 price target.

According to Zacks Investment Research, “Pershing Gold Corporation is engaged in the exploration and development of gold and precious metal properties primarily in Nevada. The Company focuses on the exploration of Relief Canyon properties located in Pershing County in northwestern Nevada. Pershing Gold Corporation is based in Lakewood, Colorado.”

More notable recent Pershing Gold Corp (NASDAQ:PGLC) news were published by: Prnewswire.com which released: “Pershing Gold Intercepts Multiple Intervals in Step-out Drill Hole RC16-462 …” on September 06, 2016, also Bizjournals.com with their article: “Pershing Gold plans 1-for-18 reverse stock split” published on June 17, 2015, Seekingalpha.com published: “Pershing Gold Update And Prospects For 2016” on January 28, 2016. More interesting news about Pershing Gold Corp (NASDAQ:PGLC) were released by: Gurufocus.com and their article: “Pershing Gold Corp (OTCMKTS:PGLC) Soon To Be Operational, Profitable” published on December 01, 2014 as well as Globenewswire.com‘s news article titled: “Pershing Gold Corporation and Continental Resources Corporation Jointly …” with publication date: February 21, 2013.

PGLC Company Profile

Pershing Gold Corporation, incorporated on August 2, 2007, is a gold and precious metals exploration company. The Firm focuses on exploration, development and mining opportunities in Nevada. The Firm is focused on exploration at its Relief Canyon properties in Pershing County in northwestern Nevada. The Firm operates its business directly and also through its subsidiary, Gold Acquisition Corp. Gold Acquisition Corp. is engaged in conducting exploration on the Relief Canyon Mine property in northwestern Nevada. The Firm is engaged in conducting exploration on the Relief Canyon expansion properties.

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