A-Mark Precious Metals (NASDAQ:AMRK) Upgraded to Strong-Buy at Zacks Research

Key Points

• A-Mark Precious Metals has been upgraded to a strong-buy rating by Zacks Research, with other analysts also showing positive sentiment towards the stock.
• The stock price has increased by 7.9%, bringing it to $26.98, while analysts have set an average target price of $33.00.
• Institutional investors hold a significant portion of the company, owning 75.25% of A-Mark Precious Metals' stock, indicating strong interest in the company's future.

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

A number of other analysts have also weighed in on the stock. DA Davidson restated a "buy" rating and set a $29.00 price objective on shares of A-Mark Precious Metals in a research note on Wednesday. Wall Street Zen upgraded shares of A-Mark Precious Metals from a "sell" rating to a "hold" rating in a research note on Saturday, May 17th. Finally, Roth Capital raised shares of A-Mark Precious Metals to a "strong-buy" rating in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $33.00.

A-Mark Precious Metals Stock Up 7.9%

NASDAQ:AMRK opened at $26.98 on Thursday. The firm 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. A-Mark Precious Metals has a fifty-two week low of $19.39 and a fifty-two week high of $47.39. The firm has a 50-day simple moving average of $22.96 and a two-hundred day simple moving average of $23.35.

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, beating analysts' consensus estimates 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 net margin of 0.16% and a return on equity of 7.85%. During the same period last year, the business earned $0.76 EPS. Analysts predict that A-Mark Precious Metals will post 2.11 earnings per share for the current fiscal year.

Institutional Trading of A-Mark Precious Metals

Institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its holdings in shares of A-Mark Precious Metals by 118.5% in the second quarter. PNC Financial Services Group Inc. now owns 1,311 shares of the company's stock worth $29,000 after buying an additional 711 shares during the last quarter. New York State Teachers Retirement System purchased a new position in shares of A-Mark Precious Metals in the first quarter worth approximately $41,000. Tower Research Capital LLC TRC boosted its holdings in shares of A-Mark Precious Metals by 624.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,143 shares of the company's stock worth $48,000 after buying an additional 1,847 shares during the last quarter. CWM LLC boosted its holdings in shares of A-Mark Precious Metals by 1,192.3% in the first quarter. CWM LLC now owns 2,184 shares of the company's stock worth $55,000 after buying an additional 2,015 shares during the last quarter. Finally, NBC Securities Inc. purchased a new position in shares of A-Mark Precious Metals in the first quarter worth approximately $70,000. 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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