A-Mark Precious Metals (NASDAQ:AMRK) Announces Earnings Results

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) announced its quarterly earnings results on Tuesday. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.57 by $0.19, Zacks reports. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.91 billion. A-Mark Precious Metals had a net margin of 0.16% and a return on equity of 7.85%. During the same quarter in the prior year, the business posted $0.76 EPS.

A-Mark Precious Metals Stock Performance

NASDAQ AMRK traded up $1.97 during trading on Friday, hitting $26.98. The company's stock had a trading volume of 913,702 shares, compared to its average volume of 272,268. A-Mark Precious Metals has a 52 week low of $19.39 and a 52 week high of $47.39. The firm has a market cap of $664.25 million, a P/E ratio of 39.10 and a beta of 0.16. The firm has a 50 day moving average price of $22.96 and a 200 day moving average price of $23.32. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Friday, July 18th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a yield of 3.0%. A-Mark Precious Metals's dividend payout ratio (DPR) is 115.94%.

Analyst Ratings Changes

AMRK has been the subject of a number of recent research reports. Zacks Research upgraded shares of A-Mark Precious Metals from a "hold" rating to a "strong-buy" rating in a report on Thursday. Wall Street Zen raised A-Mark Precious Metals from a "sell" rating to a "hold" rating in a research report on Saturday, May 17th. Roth Capital raised A-Mark Precious Metals to a "strong-buy" rating in a report on Wednesday. Finally, DA Davidson restated a "buy" rating and issued a $29.00 target price on shares of A-Mark Precious Metals in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, A-Mark Precious Metals currently has a consensus rating of "Buy" and a consensus price target of $33.00.

Institutional Investors Weigh In On A-Mark Precious Metals

Several hedge funds and other institutional investors have recently modified their holdings of AMRK. AQR Capital Management LLC raised its stake in A-Mark Precious Metals by 213.9% during the 1st quarter. AQR Capital Management LLC now owns 93,297 shares of the company's stock valued at $2,367,000 after purchasing an additional 63,573 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of A-Mark Precious Metals by 4.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,531 shares of the company's stock worth $267,000 after purchasing an additional 489 shares during the period. Empowered Funds LLC raised its position in shares of A-Mark Precious Metals by 451.4% during the first quarter. Empowered Funds LLC now owns 97,264 shares of the company's stock valued at $2,468,000 after buying an additional 79,624 shares during the last quarter. Rhumbline Advisers raised its position in shares of A-Mark Precious Metals by 10.9% during the second quarter. Rhumbline Advisers now owns 30,966 shares of the company's stock valued at $687,000 after buying an additional 3,039 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of A-Mark Precious Metals by 16,463.0% in the second quarter. Russell Investments Group Ltd. now owns 7,619 shares of the company's stock valued at $169,000 after buying an additional 7,573 shares during the period. 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.