A-Mark Precious Metals (NASDAQ:AMRK) Shares Gap Down - Here's Why

Key Points

• A-Mark Precious Metals shares gapped down significantly from $24.45 to $22.01 before stabilizing at $23.01, with a high trading volume of 128,330 shares.
• Analysts have mixed perspectives on the stock, with one brokerage upgrading it to a "hold" and another maintaining a "buy" rating with a price target of $29.00.
• The company recently declared a quarterly dividend of $0.20, which indicates a 3.5% dividend yield, and has a current dividend payout ratio of 54.05%.

A-Mark Precious Metals, Inc. (NASDAQ:AMRK - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $24.45, but opened at $22.01. A-Mark Precious Metals shares last traded at $23.01, with a volume of 128,330 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. DA Davidson reaffirmed a "buy" rating and set a $29.00 target price on shares of A-Mark Precious Metals in a research report on Wednesday. Wall Street Zen upgraded A-Mark Precious Metals from a "sell" rating to a "hold" rating in a report on Saturday, May 17th. Roth Capital upgraded A-Mark Precious Metals to a "strong-buy" rating in a report on Wednesday. Finally, Zacks Research upgraded A-Mark Precious Metals from a "hold" rating to a "strong-buy" rating in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, A-Mark Precious Metals has a consensus rating of "Buy" and an average target price of $33.00.

A-Mark Precious Metals Price Performance

The stock has a market cap of $664.25 million, a P/E ratio of 39.10 and a beta of 0.16. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.39 and a current ratio of 1.56. The business has a 50 day simple moving average of $22.96 and a 200-day simple moving average of $23.35.

A-Mark Precious Metals (NASDAQ:AMRK - Get Free Report) last announced its quarterly earnings data on Tuesday, September 9th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.19. The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.91 billion. A-Mark Precious Metals had a return on equity of 7.85% and a net margin of 0.16%.During the same quarter in the prior year, the company earned $0.76 EPS. On average, sell-side analysts forecast that A-Mark Precious Metals, Inc. will post 2.11 EPS for the current year.

A-Mark Precious Metals Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of A-Mark Precious Metals by 4.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,042 shares of the company's stock worth $275,000 after acquiring an additional 456 shares during the period. Linden Thomas Advisory Services LLC grew its stake in shares of A-Mark Precious Metals by 6.1% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 8,405 shares of the company's stock worth $213,000 after acquiring an additional 485 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of A-Mark Precious Metals by 118.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,311 shares of the company's stock worth $29,000 after acquiring an additional 711 shares during the period. Farther Finance Advisors LLC grew its stake in shares of A-Mark Precious Metals by 55.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,522 shares of the company's stock worth $78,000 after acquiring an additional 1,255 shares during the period. Finally, Wedbush Securities Inc. boosted its stake in A-Mark Precious Metals by 0.5% in the 2nd quarter. Wedbush Securities Inc. now owns 273,156 shares of the company's stock worth $6,059,000 after purchasing an additional 1,330 shares during the period. Institutional investors 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.