A-Mark Precious Metals (NASDAQ:AMRK) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of A-Mark Precious Metals (NASDAQ:AMRK) from a sell rating to a hold rating in a research note published on Tuesday.

Separately, DA Davidson upped their target price on A-Mark Precious Metals from $47.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $46.33.

A-Mark Precious Metals Price Performance

AMRK opened at $31.58 on Tuesday. The business has a fifty day moving average of $41.65 and a 200 day moving average of $38.21. A-Mark Precious Metals has a 52-week low of $24.22 and a 52-week high of $47.39. The company has a quick ratio of 0.39, a current ratio of 1.63 and a debt-to-equity ratio of 0.38. The stock has a market cap of $731.71 million, a P/E ratio of 11.48 and a beta of -0.01.

A-Mark Precious Metals (NASDAQ:AMRK) last issued its earnings results on Thursday, August 29th. The company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.59). A-Mark Precious Metals had a return on equity of 13.28% and a net margin of 0.68%. The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.64 billion. As a group, sell-side analysts anticipate that A-Mark Precious Metals will post 4.29 EPS for the current year.

A-Mark Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 8th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Tuesday, October 8th. A-Mark Precious Metals’s payout ratio is 29.09%.

Insider Activity at A-Mark Precious Metals

In other A-Mark Precious Metals news, Director Michael R. Wittmeyer sold 10,975 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $43.30, for a total value of $475,217.50. Following the completion of the sale, the director now directly owns 292,535 shares in the company, valued at approximately $12,666,765.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other A-Mark Precious Metals news, Director Michael R. Wittmeyer sold 10,975 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $43.30, for a total value of $475,217.50. Following the completion of the sale, the director now directly owns 292,535 shares in the company, valued at approximately $12,666,765.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jess M. Ravich sold 14,500 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $45.68, for a total value of $662,360.00. Following the completion of the sale, the director now owns 190,500 shares of the company’s stock, valued at approximately $8,702,040. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,316 shares of company stock valued at $4,911,036 in the last ninety days. Corporate insiders own 48.64% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. SummerHaven Investment Management LLC raised its stake in shares of A-Mark Precious Metals by 2.1% in the second quarter. SummerHaven Investment Management LLC now owns 18,958 shares of the company’s stock worth $614,000 after purchasing an additional 391 shares during the last quarter. Bard Associates Inc. raised its stake in shares of A-Mark Precious Metals by 0.4% in the third quarter. Bard Associates Inc. now owns 93,411 shares of the company’s stock worth $4,125,000 after purchasing an additional 396 shares during the last quarter. Quarry LP grew its holdings in A-Mark Precious Metals by 94.1% during the second quarter. Quarry LP now owns 1,112 shares of the company’s stock worth $36,000 after acquiring an additional 539 shares during the period. Empowered Funds LLC grew its holdings in A-Mark Precious Metals by 5.0% during the third quarter. Empowered Funds LLC now owns 16,858 shares of the company’s stock worth $744,000 after acquiring an additional 804 shares during the period. Finally, Riverwater Partners LLC grew its holdings in A-Mark Precious Metals by 10.6% during the second quarter. Riverwater Partners LLC now owns 9,229 shares of the company’s stock worth $299,000 after acquiring an additional 881 shares during the period. 75.25% of the stock is currently owned by hedge funds and other institutional investors.

About A-Mark Precious Metals

A-Mark Precious Metals, Inc, together with its subsidiaries, operates as a precious metals trading company. It operates through three segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending. The Wholesale Sales & Ancillary Services segment sells gold, silver, platinum, and palladium in the form of bars, plates, powders, wafers, grains, ingots, and coins.