A-Mark Precious Metals (NASDAQ:AMRK) Raised 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 report released on Tuesday.

Separately, DA Davidson upped their price target on shares of A-Mark Precious Metals from $42.00 to $47.00 and gave the stock a buy rating in a report on Thursday, September 5th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $47.67.

A-Mark Precious Metals Price Performance

A-Mark Precious Metals stock opened at $44.73 on Tuesday. The business’s 50 day simple moving average is $38.93 and its 200 day simple moving average is $36.48. The company has a current ratio of 1.63, a quick ratio of 0.39 and a debt-to-equity ratio of 0.38. A-Mark Precious Metals has a 12 month low of $23.14 and a 12 month high of $47.39. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 13.72 and a beta of -0.05.

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

A-Mark Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 8th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, October 8th. This represents a $0.80 annualized dividend and a yield of 1.79%. A-Mark Precious Metals’s payout ratio is 24.54%.

Insider Buying and Selling at A-Mark Precious Metals

In other news, Director Michael R. Wittmeyer sold 25,841 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $44.35, for a total transaction of $1,146,048.35. Following the completion of the sale, the director now directly owns 292,535 shares in the company, valued at $12,973,927.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Michael R. Wittmeyer sold 25,841 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $44.35, for a total transaction of $1,146,048.35. Following the completion of the sale, the director now directly owns 292,535 shares in the company, valued at $12,973,927.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jess M. Ravich sold 14,500 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $45.68, for a total transaction of $662,360.00. Following the completion of the sale, the director now owns 190,500 shares of the company’s stock, valued at $8,702,040. The disclosure for this sale can be found here. Insiders sold a total of 110,316 shares of company stock worth $4,911,036 over the last three months. Company insiders own 23.20% of the company’s stock.

Hedge Funds Weigh In On A-Mark Precious Metals

A number of institutional investors and hedge funds have recently made changes to their positions in AMRK. Quarry LP increased its stake in shares of A-Mark Precious Metals by 94.1% during the second quarter. Quarry LP now owns 1,112 shares of the company’s stock valued at $36,000 after purchasing an additional 539 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of A-Mark Precious Metals during the second quarter valued at approximately $45,000. Quest Partners LLC purchased a new stake in A-Mark Precious Metals during the 4th quarter valued at $184,000. Capstone Investment Advisors LLC purchased a new stake in A-Mark Precious Metals during the 4th quarter valued at $220,000. Finally, Quantbot Technologies LP raised its stake in A-Mark Precious Metals by 192.5% during the 1st quarter. Quantbot Technologies LP now owns 7,438 shares of the company’s stock valued at $228,000 after buying an additional 4,895 shares during the last quarter. Institutional investors own 75.25% of the company’s stock.

A-Mark Precious Metals Company Profile

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.