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A-Mark Precious Metals (NASDAQ:AMRK) Stock Price Up 6% - Here's Why

A-Mark Precious Metals logo with Consumer Discretionary background

Key Points

  • A-Mark Precious Metals stock price increased by 6% to $29.63, despite a 24% decline in trading volume compared to its average.
  • Recent analyst reports have upgraded A-Mark's rating, with Roth Capital and Zacks Research both issuing a strong-buy recommendation, contributing to a consensus price target of $33.00.
  • The company reported $0.76 earnings per share for the latest quarter, surpassing the expected $0.57, while also generating $2.51 billion in revenue, below the anticipated $2.91 billion.
  • Five stocks to consider instead of A-Mark Precious Metals.

A-Mark Precious Metals, Inc. (NASDAQ:AMRK - Get Free Report)'s stock price rose 6% during trading on Thursday . The stock traded as high as $29.70 and last traded at $29.63. Approximately 212,510 shares were traded during trading, a decline of 24% from the average daily volume of 281,165 shares. The stock had previously closed at $27.95.

Analyst Ratings Changes

Several research analysts have issued reports on AMRK shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of A-Mark Precious Metals in a report on Tuesday. Roth Capital raised A-Mark Precious Metals to a "strong-buy" rating in a report on Wednesday, September 10th. Zacks Research raised A-Mark Precious Metals from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 11th. Finally, DA Davidson reaffirmed a "buy" rating and issued a $29.00 price target on shares of A-Mark Precious Metals in a report on Wednesday, September 10th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.00.

Check Out Our Latest Report on AMRK

A-Mark Precious Metals Stock Performance

The firm's fifty day moving average price is $25.04 and its 200 day moving average price is $23.21. The company has a current ratio of 1.56, a quick ratio of 0.42 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $727.37 million, a PE ratio of 42.76 and a beta of 0.37.

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

Insider Transactions at A-Mark Precious Metals

In other A-Mark Precious Metals news, Director Moorhead John sold 2,600 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $26.97, for a total transaction of $70,122.00. Following the completion of the sale, the director directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 23.10% of the company's stock.

Institutional Investors Weigh In On A-Mark Precious Metals

A number of hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. boosted its holdings in A-Mark Precious Metals by 2.8% during the third quarter. Pacer Advisors Inc. now owns 187,213 shares of the company's stock valued at $4,843,000 after acquiring an additional 5,091 shares during the period. Tower Research Capital LLC TRC boosted its holdings in A-Mark Precious Metals by 624.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,143 shares of the company's stock valued at $48,000 after acquiring an additional 1,847 shares during the period. Cannell Capital LLC boosted its holdings in A-Mark Precious Metals by 22.3% during the second quarter. Cannell Capital LLC now owns 228,384 shares of the company's stock valued at $5,066,000 after acquiring an additional 41,608 shares during the period. Engineers Gate Manager LP boosted its holdings in A-Mark Precious Metals by 147.1% during the second quarter. Engineers Gate Manager LP now owns 43,123 shares of the company's stock valued at $956,000 after acquiring an additional 25,674 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in A-Mark Precious Metals by 574.0% during the second quarter. BNP Paribas Financial Markets now owns 48,204 shares of the company's stock valued at $1,069,000 after acquiring an additional 41,052 shares during the period. 75.25% of the stock is currently owned by institutional investors.

A-Mark Precious Metals Company Profile

(Get Free Report)

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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