A-Mark Precious Metals Inc. (AMRK) Downgraded by Zacks Investment Research to Strong Sell
According to Zacks, “A-Mark Precious Metals, Inc. operates as a full service precious metals trading company offering a wide array of products and services. The Company’s products include gold, silver, platinum and palladium for storage and delivery in the form of coins, bars, wafers and grain. Its services include financing, leasing, consignment, hedging and a variety of customized financial programs. The Company’s clients include coin and metal dealers, investors, collectors, mines, manufacturers, refiners, jewelers, investment advisors, merchants, commodity brokerage houses and central banks. A-Mark Precious Metals, Inc. is based in Santa Monica, California. “
Several other equities research analysts also recently commented on the company. B. Riley restated a neutral rating and set a $17.50 price objective on shares of A-Mark Precious Metals in a report on Sunday, November 13th. TheStreet downgraded A-Mark Precious Metals from a hold rating to a sell rating in a report on Wednesday, August 17th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $20.83.
A-Mark Precious Metals (NASDAQ:AMRK) traded up 2.10% during midday trading on Thursday, hitting $16.54. The stock had a trading volume of 2,571 shares. A-Mark Precious Metals has a 1-year low of $14.02 and a 1-year high of $22.07. The stock has a market capitalization of $116.29 million, a PE ratio of 21.34 and a beta of 0.07. The stock’s 50-day moving average is $15.78 and its 200-day moving average is $16.52.
A-Mark Precious Metals (NASDAQ:AMRK) last issued its quarterly earnings results on Monday, November 7th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.24. A-Mark Precious Metals had a return on equity of 8.63% and a net margin of 0.08%. On average, equities research analysts anticipate that A-Mark Precious Metals will post $1.15 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 14th will be paid a $0.07 dividend. The ex-dividend date is Wednesday, November 9th. This represents a $0.28 dividend on an annualized basis and a yield of 1.73%. A-Mark Precious Metals’s dividend payout ratio (DPR) is presently 35.90%.
In other A-Mark Precious Metals news, CEO Gregory N. Roberts sold 3,300 shares of the company’s stock in a transaction on Thursday, October 20th. The stock was sold at an average price of $15.50, for a total value of $51,150.00. Following the completion of the transaction, the chief executive officer now owns 65,656 shares in the company, valued at approximately $1,017,668. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 44.90% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Numeric Investors LLC boosted its position in shares of A-Mark Precious Metals by 39.2% in the second quarter. Numeric Investors LLC now owns 138,648 shares of the company’s stock worth $2,243,000 after buying an additional 39,053 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of A-Mark Precious Metals by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 295,330 shares of the company’s stock worth $4,778,000 after buying an additional 20,316 shares in the last quarter. Shufro Rose & Co. LLC boosted its position in shares of A-Mark Precious Metals by 7.6% in the second quarter. Shufro Rose & Co. LLC now owns 204,300 shares of the company’s stock worth $3,306,000 after buying an additional 14,500 shares in the last quarter. Mork Capital Management LLC boosted its position in shares of A-Mark Precious Metals by 25.0% in the second quarter. Mork Capital Management LLC now owns 50,000 shares of the company’s stock worth $809,000 after buying an additional 10,000 shares in the last quarter. Finally, Granite Investment Partners LLC boosted its position in shares of A-Mark Precious Metals by 7.1% in the third quarter. Granite Investment Partners LLC now owns 131,625 shares of the company’s stock worth $2,112,000 after buying an additional 8,691 shares in the last quarter. Hedge funds and other institutional investors own 20.71% of the company’s stock.
A-Mark Precious Metals Company Profile
A-Mark Precious Metals, Inc is a precious metals trading company. The Company is a wholesaler of gold, silver, platinum and palladium bullion and related products, including bars, wafers, grain and coins. The Company also distributes gold and silver coins and bars from sovereign and private mints; provides financing for the purchase of bullion and numismatics; offers secure storage for bullion, and offers complementary products, such as consignment, customized finance and liquidity programs, such as Repo accounts, and trade quotes in a range of foreign currencies.
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