A-Mark Precious Metals (NASDAQ:AMRK) Trading 7.7% Higher – Here’s What Happened

Shares of A-Mark Precious Metals, Inc. (NASDAQ:AMRK) shot up 7.7% during mid-day trading on Friday . The company traded as high as $23.33 and last traded at $23.82. 85,402 shares were traded during mid-day trading, a decline of 75% from the average session volume of 337,797 shares. The stock had previously closed at $22.12.

Wall Street Analyst Weigh In

Several equities analysts have commented on AMRK shares. DA Davidson reissued a “buy” rating and set a $35.00 target price on shares of A-Mark Precious Metals in a research report on Tuesday, March 11th. Northland Securities cut their price objective on A-Mark Precious Metals from $40.00 to $36.00 and set a “market perform” rating on the stock in a research report on Friday, February 7th. Finally, StockNews.com upgraded A-Mark Precious Metals from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $41.75.

A-Mark Precious Metals Stock Up 7.7 %

The company has a quick ratio of 0.31, a current ratio of 1.58 and a debt-to-equity ratio of 0.34. The stock has a 50-day simple moving average of $26.61 and a 200-day simple moving average of $30.44. The firm has a market capitalization of $548.31 million, a PE ratio of 11.62 and a beta of 0.41.

A-Mark Precious Metals (NASDAQ:AMRK) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.10). A-Mark Precious Metals had a return on equity of 9.29% and a net margin of 0.46%. Analysts forecast that A-Mark Precious Metals, Inc. will post 2.11 EPS for the current year.

A-Mark Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 15th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.80 annualized dividend and a dividend yield of 3.36%. A-Mark Precious Metals’s payout ratio is currently 39.02%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in A-Mark Precious Metals by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 437,464 shares of the company’s stock worth $11,989,000 after buying an additional 5,672 shares in the last quarter. CWA Asset Management Group LLC lifted its position in A-Mark Precious Metals by 38.6% in the 4th quarter. CWA Asset Management Group LLC now owns 368,393 shares of the company’s stock worth $10,094,000 after buying an additional 102,524 shares during the last quarter. Jacobs Asset Management LLC lifted its holdings in shares of A-Mark Precious Metals by 12.7% in the 4th quarter. Jacobs Asset Management LLC now owns 310,000 shares of the company’s stock worth $8,494,000 after acquiring an additional 35,000 shares during the last quarter. Wedbush Securities Inc. boosted its stake in shares of A-Mark Precious Metals by 3.8% in the 4th quarter. Wedbush Securities Inc. now owns 275,864 shares of the company’s stock valued at $7,559,000 after purchasing an additional 10,121 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in shares of A-Mark Precious Metals by 1.3% during the 4th quarter. Nuveen Asset Management LLC now owns 250,997 shares of the company’s stock valued at $6,877,000 after purchasing an additional 3,178 shares during the last quarter. 75.25% of the stock is currently owned by institutional investors.

A-Mark Precious Metals Company Profile

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.