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smallcapplayer

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smallcapplayer

Re: Steuvin post# 2398

Wednesday, 05/28/2014 8:55:44 AM

Wednesday, May 28, 2014 8:55:44 AM

Post# of 4147
Cantor Fitzgerald/Pershing Gold Corp. (PGLC/OTCQB, $0.35) Buy: Target $0.55

CANTOR FITZGERALD INITIATES COVERAGE WITH A BUY RECOMMENDATION

INVESTMENT THESIS: Pershing Gold Corp is a near-term, Nevada-based gold development company with pedigreed management that will soon re-start production at the Relief Canyon Mine.

VALUATION: We are initiating coverage on Pershing Gold Corp. with a BUY recommendation and a $0.55/share target price. Our target price reflects a 1.0× multiple to our $0.54 per share NAV valuation.
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