Pershing Gold Corp (NASDAQ:PGLC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Saturday.

According to Zacks, “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. “

Separately, Roth Capital set a $6.00 price objective on Pershing Gold Corp and gave the company a “buy” rating in a research note on Tuesday, February 28th.

Shares of Pershing Gold Corp (NASDAQ:PGLC) traded up 0.36% during mid-day trading on Friday, hitting $2.81. 54,199 shares of the company’s stock were exchanged. Pershing Gold Corp has a 52 week low of $2.67 and a 52 week high of $5.02. The firm has a 50 day moving average price of $2.90 and a 200-day moving average price of $3.44. The company’s market capitalization is $79.76 million.

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In other Pershing Gold Corp news, Director Barry C. Honig purchased 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 9th. The shares were acquired at an average cost of $2.90 per share, for a total transaction of $58,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Barry C. Honig bought 20,400 shares of the stock in a transaction on Tuesday, April 18th. The stock was purchased at an average price of $2.82 per share, for a total transaction of $57,528.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 75,400 shares of company stock worth $217,653. 39.84% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of PGLC. Aegis Financial Corp purchased a new stake in shares of Pershing Gold Corp during the fourth quarter valued at about $402,000. Ruffer LLP boosted its position in shares of Pershing Gold Corp by 171.8% in the fourth quarter. Ruffer LLP now owns 145,421 shares of the basic materials company’s stock valued at $476,000 after buying an additional 91,926 shares during the period. Renaissance Technologies LLC bought a new position in shares of Pershing Gold Corp during the first quarter valued at $565,000. Finally, Spark Investment Management LLC boosted its position in shares of Pershing Gold Corp by 24.2% in the first quarter. Spark Investment Management LLC now owns 82,900 shares of the basic materials company’s stock valued at $327,000 after buying an additional 16,132 shares during the period. Hedge funds and other institutional investors own 18.45% of the company’s stock.

Pershing Gold Corp Company Profile

Pershing Gold Corporation is a gold and precious metals exploration company. The Company focuses on exploration, development and mining opportunities in Nevada. The Company is focused on exploration at its Relief Canyon properties in Pershing County in northwestern Nevada. The Company operates its business directly and also through its subsidiary, Gold Acquisition Corp.

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