Gold.com (NYSE:GOLD) Board Approves Share Repurchase Program

Gold.com (NYSE:GOLD) announced that its board has initiated a stock buyback program on Wednesday, April 8th, RTT News reports. The company plans to buyback 2,000,000,000,000 outstanding shares. This buyback authorization permits the company to repurchase up to 7.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Gold.com Stock Performance

Shares of NYSE GOLD traded up $2.31 during trading hours on Wednesday, reaching $45.78. 875,892 shares of the stock were exchanged, compared to its average volume of 629,997. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 97.41 and a beta of 0.50. The company has a quick ratio of 0.66, a current ratio of 1.21 and a debt-to-equity ratio of 0.43. Gold.com has a 52 week low of $19.39 and a 52 week high of $66.70. The company’s fifty day simple moving average is $50.99.

Gold.com (NYSE:GOLD) last announced its earnings results on Thursday, February 5th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.21. The company had revenue of $6.48 billion for the quarter, compared to analyst estimates of $3.41 billion. Gold.com had a return on equity of 7.56% and a net margin of 0.08%.

Gold.com Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Friday, February 20th were paid a $0.20 dividend. The ex-dividend date was Friday, February 20th. This represents a $0.80 annualized dividend and a dividend yield of 1.7%. Gold.com’s dividend payout ratio is 170.21%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GOLD. DA Davidson upped their price target on shares of Gold.com from $53.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Weiss Ratings began coverage on shares of Gold.com in a research report on Wednesday, January 14th. They set a “hold (c-)” rating on the stock. Northland Securities raised shares of Gold.com from a “market perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a research report on Friday, February 6th. Roth Mkm set a $60.00 price objective on shares of Gold.com in a report on Wednesday, January 28th. Finally, Zacks Research upgraded shares of Gold.com from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $59.00.

Insider Activity at Gold.com

In related news, Director Jeffrey D. Benjamin sold 75,179 shares of the company’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $60.94, for a total value of $4,581,408.26. Following the transaction, the director directly owned 94,240 shares in the company, valued at approximately $5,742,985.60. This represents a 44.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jess M. Ravich sold 62,204 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $63.49, for a total transaction of $3,949,331.96. Following the completion of the transaction, the director owned 9,900 shares in the company, valued at $628,551. This trade represents a 86.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 504,239 shares of company stock worth $29,856,403. Corporate insiders own 0.63% of the company’s stock.

About Gold.com

A-Mark Precious Metals, Inc, together with its subsidiaries, operates as a precious metals trading company. It operates in 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. This segment also offers various ancillary services, including financing, storage, consignment, logistics, and various customized financial programs; and designs and produces minted silver products.