A-Mark Precious Metals (NASDAQ:AMRK) Rating Increased to Strong-Buy at Zacks Investment Research

A-Mark Precious Metals (NASDAQ:AMRKGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday, Zacks.com reports. The brokerage presently has a $76.00 target price on the stock. Zacks Investment Research‘s target price indicates a potential upside of 16.87% from the stock’s current price.

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 research firms have also recently issued reports on AMRK. Northland Securities started coverage on shares of A-Mark Precious Metals in a research report on Tuesday, April 19th. They set an “outperform” rating and a $105.00 price objective on the stock. StockNews.com started coverage on shares of A-Mark Precious Metals in a research report on Thursday, March 31st. They set a “hold” rating on the stock. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, A-Mark Precious Metals has an average rating of “Buy” and an average target price of $85.50.

NASDAQ:AMRK traded down $0.92 during trading hours on Tuesday, hitting $65.03. 10,780 shares of the stock traded hands, compared to its average volume of 113,264. The company has a current ratio of 1.48, a quick ratio of 0.57 and a debt-to-equity ratio of 0.23. A-Mark Precious Metals has a 1 year low of $38.10 and a 1 year high of $89.19. The stock has a market capitalization of $748.76 million, a P/E ratio of 5.37 and a beta of -0.45. The firm has a 50 day moving average of $77.20.

A-Mark Precious Metals shares are going to split before the market opens on Tuesday, June 7th. The 2-1 split was announced on Tuesday, June 7th. The newly created shares will be issued to shareholders after the market closes on Tuesday, June 7th.

A-Mark Precious Metals (NASDAQ:AMRKGet Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $1.10. A-Mark Precious Metals had a net margin of 1.77% and a return on equity of 42.93%. During the same quarter in the previous year, the company earned $8.84 EPS. As a group, research analysts forecast that A-Mark Precious Metals will post 8.21 earnings per share for the current year.

In other A-Mark Precious Metals news, Director Beverley Lepine sold 500 shares of the business’s stock in a transaction on Thursday, March 10th. The shares were sold at an average price of $73.54, for a total transaction of $36,770.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Gregory N. Roberts sold 12,000 shares of the business’s stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $70.77, for a total transaction of $849,240.00. The disclosure for this sale can be found here. Insiders sold 41,233 shares of company stock worth $2,975,497 in the last 90 days. 25.60% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Swiss National Bank boosted its stake in shares of A-Mark Precious Metals by 7.5% during the first quarter. Swiss National Bank now owns 20,100 shares of the company’s stock valued at $1,555,000 after purchasing an additional 1,400 shares during the period. Shufro Rose & Co. LLC purchased a new stake in shares of A-Mark Precious Metals during the first quarter valued at $541,000. New York State Common Retirement Fund boosted its stake in shares of A-Mark Precious Metals by 15.5% during the first quarter. New York State Common Retirement Fund now owns 6,779 shares of the company’s stock valued at $524,000 after purchasing an additional 908 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of A-Mark Precious Metals during the first quarter valued at $820,000. Finally, SummerHaven Investment Management LLC boosted its stake in shares of A-Mark Precious Metals by 8.2% during the first quarter. SummerHaven Investment Management LLC now owns 20,273 shares of the company’s stock valued at $1,568,000 after purchasing an additional 1,536 shares during the period. 43.08% of the stock is owned by hedge funds and other institutional investors.

About A-Mark Precious Metals (Get Rating)

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.

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