A-Mark Precious Metals (NASDAQ:AMRK) Stock Price Passes Above 50-Day Moving Average - Here's What Happened

Key Points

• A-Mark Precious Metals' stock price recently surpassed its 50-day moving average, trading as high as $27.07 and currently at $26.78.
• Analysts have given A-Mark Precious Metals a consensus rating of "Buy" with a target price of $33.00, following multiple upgrades from firms like DA Davidson and Zacks Research.
• The company reported earnings per share of $0.76 for the last quarter, exceeding estimates of $0.57, although revenue fell short of expectations at $2.51 billion.

A-Mark Precious Metals, Inc. (NASDAQ:AMRK - Get Free Report) shares passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $23.85 and traded as high as $27.07. A-Mark Precious Metals shares last traded at $26.78, with a volume of 331,252 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. DA Davidson restated a "buy" rating and issued a $29.00 target price on shares of A-Mark Precious Metals in a research report on Wednesday, September 10th. Roth Capital raised A-Mark Precious Metals to a "strong-buy" rating in a research note on Wednesday, September 10th. Finally, Zacks Research raised A-Mark Precious Metals from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $33.00.

A-Mark Precious Metals Trading Up 0.5%

The firm has a market capitalization of $659.86 million, a P/E ratio of 38.81 and a beta of 0.16. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.42 and a current ratio of 1.56. The firm has a 50 day moving average price of $23.85 and a two-hundred day moving average price of $23.27.

A-Mark Precious Metals (NASDAQ:AMRK - Get Free Report) last released its quarterly earnings data on Tuesday, September 9th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.19. The business had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.91 billion. A-Mark Precious Metals had a return on equity of 7.77% and a net margin of 0.16%.During the same period last year, the company posted $0.76 EPS. On average, equities research analysts expect that A-Mark Precious Metals, Inc. will post 2.11 EPS for the current fiscal year.

A-Mark Precious Metals Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 3.0%. A-Mark Precious Metals's dividend payout ratio (DPR) is currently 115.94%.

Insider Activity

In other news, Director Moorhead John sold 2,600 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $26.97, for a total value of $70,122.00. Following the completion of the sale, the director owned 32,974 shares in the company, valued at $889,308.78. This represents a 7.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 48.64% of the stock is owned by insiders.

Institutional Trading of A-Mark Precious Metals

A number of hedge funds have recently modified their holdings of AMRK. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of A-Mark Precious Metals by 15.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 52,975 shares of the company's stock valued at $1,452,000 after purchasing an additional 7,124 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of A-Mark Precious Metals by 11,170.5% in the first quarter. GAMMA Investing LLC now owns 6,875 shares of the company's stock valued at $174,000 after purchasing an additional 6,814 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of A-Mark Precious Metals in the first quarter valued at $70,000. New York State Teachers Retirement System purchased a new stake in shares of A-Mark Precious Metals in the first quarter valued at $41,000. Finally, Teacher Retirement System of Texas lifted its holdings in shares of A-Mark Precious Metals by 6.7% in the first quarter. Teacher Retirement System of Texas now owns 57,344 shares of the company's stock valued at $1,455,000 after purchasing an additional 3,582 shares in the last quarter. Hedge funds and other 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.

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