DA Davidson Issues Pessimistic Forecast for A-Mark Precious Metals (NASDAQ:AMRK) Stock Price

A-Mark Precious Metals (NASDAQ:AMRK) had its target price cut by DA Davidson from $52.00 to $43.00 in a report published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Separately, StockNews.com raised A-Mark Precious Metals from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.33.

A-Mark Precious Metals Price Performance

Shares of AMRK stock opened at $31.58 on Thursday. The stock’s 50-day moving average is $41.65 and its 200 day moving average is $38.22. A-Mark Precious Metals has a 1-year low of $24.22 and a 1-year high of $47.39. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.63 and a quick ratio of 0.39. The company has a market cap of $731.71 million, a P/E ratio of 13.44 and a beta of -0.01.

A-Mark Precious Metals (NASDAQ:AMRK) last released its quarterly 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 net margin of 0.57% and a return on equity of 11.16%. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.64 billion. Research analysts predict that A-Mark Precious Metals will post 4.29 earnings per share for the current fiscal year.

A-Mark Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 8th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date was Tuesday, October 8th. A-Mark Precious Metals’s dividend payout ratio (DPR) is presently 34.04%.

Insider Buying and Selling at A-Mark Precious Metals

In other news, Director Jess M. Ravich sold 14,500 shares of A-Mark Precious Metals stock in a transaction on Monday, September 16th. The shares were 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 directly owns 190,500 shares in the company, valued at approximately $8,702,040. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Michael R. Wittmeyer sold 10,975 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $43.30, for a total value of $475,217.50. Following the transaction, the director now owns 292,535 shares in the company, valued at approximately $12,666,765.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jess M. Ravich sold 14,500 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $45.68, for a total transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,316 shares of company stock worth $4,911,036. 48.64% of the stock is owned by corporate insiders.

Institutional Trading of A-Mark Precious Metals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. SummerHaven Investment Management LLC lifted its position in A-Mark Precious Metals by 2.1% during the second quarter. SummerHaven Investment Management LLC now owns 18,958 shares of the company’s stock valued at $614,000 after purchasing an additional 391 shares during the period. Bard Associates Inc. grew its position in A-Mark Precious Metals by 0.4% during the 3rd quarter. Bard Associates Inc. now owns 93,411 shares of the company’s stock worth $4,125,000 after purchasing an additional 396 shares during the period. Quarry LP raised its stake in shares of A-Mark Precious Metals by 94.1% during the 2nd quarter. Quarry LP now owns 1,112 shares of the company’s stock valued at $36,000 after buying an additional 539 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of A-Mark Precious Metals by 5.0% in the 3rd quarter. Empowered Funds LLC now owns 16,858 shares of the company’s stock valued at $744,000 after buying an additional 804 shares during the period. Finally, Riverwater Partners LLC boosted its stake in shares of A-Mark Precious Metals by 10.6% in the second quarter. Riverwater Partners LLC now owns 9,229 shares of the company’s stock worth $299,000 after buying an additional 881 shares during the last quarter. Institutional investors and hedge funds 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.