A-Mark Precious Metals (NASDAQ:AMRK) Upgraded by Roth Capital to Strong-Buy Rating

Key Points

• A-Mark Precious Metals has been upgraded by Roth Capital to a "strong-buy" rating, reflecting increased confidence in the company's future performance.
• The stock has an average consensus price target of $33.00 and a current market price of $24.04, indicating potential growth.
• Significant institutional investment has been observed, with 75.25% of the stock owned by hedge funds and other institutional investors, showcasing strong support from large investors.

A-Mark Precious Metals (NASDAQ:AMRK - Get Free Report) was upgraded by Roth Capital to a "strong-buy" rating in a report released on Wednesday,Zacks.com reports.

A number of other brokerages have also weighed in on AMRK. Wall Street Zen upgraded A-Mark Precious Metals from a "sell" rating to a "hold" rating in a research report on Saturday, May 17th. DA Davidson restated a "buy" rating and issued a $29.00 target price on shares of A-Mark Precious Metals in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $33.00.

A-Mark Precious Metals Stock Performance

NASDAQ:AMRK opened at $24.04 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.56 and a quick ratio of 0.39. The business has a fifty day simple moving average of $22.83 and a two-hundred day simple moving average of $23.36. A-Mark Precious Metals has a 1 year low of $19.39 and a 1 year high of $47.39. The company has a market capitalization of $591.86 million, a P/E ratio of 34.84 and a beta of 0.16.

Hedge Funds Weigh In On A-Mark Precious Metals

Several large investors have recently made changes to their positions in AMRK. Price T Rowe Associates Inc. MD increased its holdings in A-Mark Precious Metals by 13.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,982 shares of the company's stock valued at $329,000 after acquiring an additional 1,406 shares during the last quarter. Northern Trust Corp increased its holdings in A-Mark Precious Metals by 2.7% in the 4th quarter. Northern Trust Corp now owns 186,371 shares of the company's stock valued at $5,107,000 after acquiring an additional 4,940 shares during the last quarter. Ameriprise Financial Inc. bought a new stake in shares of A-Mark Precious Metals in the 4th quarter worth about $5,059,000. Deutsche Bank AG increased its holdings in shares of A-Mark Precious Metals by 95.9% in the 4th quarter. Deutsche Bank AG now owns 65,717 shares of the company's stock worth $1,801,000 after buying an additional 32,176 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of A-Mark Precious Metals by 4.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,042 shares of the company's stock worth $275,000 after buying an additional 456 shares during the last quarter. 75.25% of the stock is currently owned by hedge funds and other institutional investors.

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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