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 issued on Tuesday.

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

A-Mark Precious Metals Trading Up 2.7 %

A-Mark Precious Metals stock opened at $44.73 on Tuesday. The company has a quick ratio of 0.39, a current ratio of 1.63 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’s fifty day simple moving average is $38.93 and its 200-day simple moving average is $36.48. The stock has a market cap of $1.02 billion, a P/E ratio of 13.72 and a beta of -0.05.

A-Mark Precious Metals (NASDAQ:AMRK) last released its earnings results on Thursday, August 29th. The company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.64 billion. As a group, sell-side analysts forecast that A-Mark Precious Metals will post 4.29 EPS for the current fiscal year.

A-Mark Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.79%. A-Mark Precious Metals’s payout ratio is currently 24.54%.

Insider Activity at A-Mark Precious Metals

In other A-Mark Precious Metals news, Director Michael R. Wittmeyer sold 25,841 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $44.35, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Michael R. Wittmeyer sold 25,841 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $44.35, for a total transaction of $1,146,048.35. Following the completion of the transaction, the director now directly owns 292,535 shares of the company’s stock, valued at $12,973,927.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jess M. Ravich sold 14,500 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $45.68, for a total value of $662,360.00. Following the transaction, the director now directly owns 190,500 shares of the company’s stock, valued at $8,702,040. The disclosure for this sale can be found here. Over the last quarter, insiders sold 110,316 shares of company stock worth $4,911,036. 23.20% of the stock is owned by insiders.

Hedge Funds Weigh In On A-Mark Precious Metals

A number of large investors have recently made changes to their positions in the company. Quarry LP increased its stake in A-Mark Precious Metals by 94.1% during the 2nd 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. nVerses Capital LLC acquired a new stake in shares of A-Mark Precious Metals during the 2nd quarter valued at $45,000. Quest Partners LLC acquired a new position in A-Mark Precious Metals during the 4th quarter worth about $184,000. Capstone Investment Advisors LLC acquired a new position in A-Mark Precious Metals during the 4th quarter worth about $220,000. Finally, Quantbot Technologies LP lifted its holdings 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 worth $228,000 after buying an additional 4,895 shares during the period. Institutional investors own 75.25% of the company’s stock.

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.