A-Mark Precious Metals (NASDAQ:AMRK) Issues Earnings Results, Beats Estimates By $0.19 EPS

Key Points

• A-Mark Precious Metals reported an earnings per share (EPS) of $0.76 for the quarter, exceeding analysts' estimates of $0.57 by $0.19.
• The company announced a quarterly dividend of $0.20 per share, translating to an annualized dividend of $0.80 and a dividend yield of 3.3%.
• A-Mark's stock trading down 0.5% to $24.45, with institutional investors owning 75.25% of its shares, indicating strong investment interest.

A-Mark Precious Metals (NASDAQ:AMRK - Get Free Report) issued its earnings results on Tuesday. The company reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.19, Zacks reports. A-Mark Precious Metals had a net margin of 0.32% and a return on equity of 8.04%.

A-Mark Precious Metals Trading Down 0.5%

Shares of AMRK traded down $0.13 during trading hours on Tuesday, reaching $24.45. 551,682 shares of the company traded hands, compared to its average volume of 255,515. The company's fifty day moving average price is $22.77 and its two-hundred day moving average price is $23.35. The company has a market capitalization of $602.08 million, a price-to-earnings ratio of 16.52 and a beta of 0.16. The company has a quick ratio of 0.39, a current ratio of 1.56 and a debt-to-equity ratio of 0.46. A-Mark Precious Metals has a 12 month low of $19.39 and a 12 month high of $47.39.

A-Mark Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Friday, July 18th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.3%. A-Mark Precious Metals's payout ratio is presently 54.05%.

Institutional Investors Weigh In On A-Mark Precious Metals

Several hedge funds have recently bought and sold shares of the business. Ameriprise Financial Inc. boosted its stake in A-Mark Precious Metals by 64.5% during the second quarter. Ameriprise Financial Inc. now owns 313,515 shares of the company's stock worth $6,954,000 after acquiring an additional 122,930 shares in the last quarter. Raymond James Financial Inc. boosted its stake in A-Mark Precious Metals by 7.5% during the second quarter. Raymond James Financial Inc. now owns 259,250 shares of the company's stock worth $5,750,000 after acquiring an additional 18,073 shares in the last quarter. Cannell Capital LLC raised its holdings in A-Mark Precious Metals by 22.3% in the second quarter. Cannell Capital LLC now owns 228,384 shares of the company's stock worth $5,066,000 after buying an additional 41,608 shares during the last quarter. Qube Research & Technologies Ltd raised its holdings in A-Mark Precious Metals by 106.4% in the second quarter. Qube Research & Technologies Ltd now owns 204,487 shares of the company's stock worth $4,536,000 after buying an additional 105,435 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its holdings in A-Mark Precious Metals by 53.6% in the second quarter. Bridgeway Capital Management LLC now owns 164,732 shares of the company's stock worth $3,654,000 after buying an additional 57,468 shares during the last quarter. Institutional investors own 75.25% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of A-Mark Precious Metals from a "sell" rating to a "hold" rating in a research report on Saturday, May 17th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $33.00.

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.

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