Investors are a little more bullish on Pershing Gold Corporation lately if you put credence in the motion in short interest. The stock experienced a fall in short interest from August 15, 2017 to August 31, 2017 of -9.07%. Short shares fell 76,862 over that timeframe. The short-interest ratio decreased to 11.0 and the short interest percentage is 0.03% as of August 31.
There has been some buying insider activity on Pershing Gold Corporation (NASDAQ:PGLC) recently. Director Barry C. Honig bought 14,000 shares at an average price of $2.97 on Mon the 18th. That brings Honig’s holdings to $4,349,024 per an SEC filing yesterday. Director Barry C. Honig disclosed the purchase of 5,000 shares of PGLC stock. The shares were purchased at an average price of $3.00. Honig now owns $4,350,954 of the stock per the Form 4 SEC filing.
Barry C. Honig, Director disclosed the purchase of 6,401 shares. The shares were bought on September 12th for an average price of $2.92. The Director now owns $6,902,334 of the stock according to the SEC filing.
These firms have modified their investment in PGLC. As of the end of the quarter Ubs Group Ag had disposed of 3,822 shares trimming its holdings by 86.9%. The value of the total investment in Pershing Gold Corporation decreased from $13,000 to $2,000 a change of $11,000 for the reporting period. Kcg Holdings, Inc. grew its stake by buying 12,334 shares an increase of 114.4%. Kcg Holdings, Inc. now holds 23,115 shares valued at $64,000. The value of the position overall is up by 106.5%.
As of quarter end Creative Planning had sold a total of 11,477 shares trimming its position 96.8%. The value of the investment in Pershing Gold Corporation went from $34,000 to $1,000 decreasing 97.1% since the last quarter. Ruffer Llp augmented its position by buying 136,638 shares an increase of 30.0% from 03/31/2017 to 06/30/2017. Ruffer Llp now controls 592,464 shares with a value of $1,644,000. The total value of its holdings increased 22.0%.
In the market the company is trading unchanged by % percent from yesterday’s close. Company shares last traded at $3.03 which is marginally over $3.00, the 50 day moving average and a bit higher than the 200 day moving average of $2.89. The 50 day moving average was up $0.03 or +1.04% whereas the 200 day average was up by +4.69%.
In the last earnings report the EPS was $-0.58 and is expected to be $-0.43 for the current year with 28,402,000 shares currently outstanding. Analysts expect next quarter’s EPS will be $-0.10 and the next full year EPS is projected to be $0.10.
Pershing Gold Corporation engages in the exploration, development, and mining of gold and precious metals primarily in Nevada. It focuses on the exploration of Relief Canyon properties covering an area of approximately 25,000 acres in Pershing County in northwestern Nevada. The Relief Canyon properties comprise approximately 948 owned unpatented mining claims, 120 owned millsite claims, 172 leased unpatented mining claims, and 2,235 acres of leased and 2,770 acres of subleased private lands. The company was formerly known as Sagebrush Gold Ltd. and changed its name to Pershing Gold Corporation in February 2012. Pershing Gold Corporation is based in Lakewood, Colorado..