Noble Financial Capital Markets Initiates Coverage of Pershing Gold Corporation with a Buy Rating

NEW YORK, NY / ACCESSWIRE / September 29, 2015 / Market Exclusive announces that Noble Financial Capital Markets has initiated coverage of Pershing Gold Corporation (NASDAQ: PGLC) with a Buy rating and a 12-month price target of $5.50 per share.

Pershing Gold is an emerging gold producer whose primary asset is the Relief Canyon Mine in Pershing County, Nevada. Relief Canyon includes three open-pit mines and a state-of-the-art, fully permitted and constructed heap-leach processing facility. Pershing Gold is currently permitted to resume mining at Relief Canyon under the existing Plan of Operations. Senior Research Analyst, Michael Heim, CFA, writes that the estimated net asset value of $5.50 per share “reflects our best estimates regarding the timing and scale of an expected start-up of operations, the future price of gold and silver and our expectations regarding future operating costs.”

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SOURCE: Market Exclusive

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