A-Mark Precious Metals (NASDAQ:AMRK) Stock Rating Upgraded by 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.

Zacks Research upgraded shares of A-Mark Precious Metals (NASDAQ:AMRK - Free Report) from a hold rating to a strong-buy rating in a research report report published on Thursday, September 11th,Zacks.com reports.

AMRK has been the topic of a number of other research reports. Wall Street Zen raised shares of A-Mark Precious Metals from a "sell" rating to a "hold" rating in a research report on Saturday, May 17th. Roth Capital upgraded A-Mark Precious Metals to a "strong-buy" rating in a research report on Wednesday, September 10th. Finally, DA Davidson reiterated a "buy" rating and issued a $29.00 price target on shares of A-Mark Precious Metals in a research report on Wednesday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $33.00.

A-Mark Precious Metals Trading Up 1.2%

AMRK traded up $0.32 during trading on Thursday, reaching $26.86. The company had a trading volume of 202,856 shares, compared to its average volume of 269,228. The firm's 50-day simple moving average is $23.23 and its 200 day simple moving average is $23.34. A-Mark Precious Metals has a 12-month low of $19.39 and a 12-month high of $46.31. 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 company has a market cap of $661.68 million, a price-to-earnings ratio of 38.99 and a beta of 0.16.

A-Mark Precious Metals (NASDAQ:AMRK - Get Free Report) last posted its earnings results 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. A-Mark Precious Metals had a return on equity of 7.77% and a net margin of 0.16%.The firm had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same period in the previous year, the company earned $0.76 EPS. Equities research analysts anticipate that A-Mark Precious Metals will post 2.11 earnings per share for the current year.

A-Mark Precious Metals Dividend Announcement

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

Insiders Place Their Bets

In other A-Mark Precious Metals news, Director Moorhead John sold 2,600 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $26.97, for a total value of $70,122.00. Following the transaction, the director owned 32,974 shares of the company's stock, valued at approximately $889,308.78. This represents a 7.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 48.64% of the company's stock.

Institutional Investors Weigh In On A-Mark Precious Metals

Hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. raised its position in shares of A-Mark Precious Metals by 118.5% during the second quarter. PNC Financial Services Group Inc. now owns 1,311 shares of the company's stock worth $29,000 after purchasing an additional 711 shares during the period. New York State Teachers Retirement System acquired a new stake in shares of A-Mark Precious Metals during the first quarter worth about $41,000. Tower Research Capital LLC TRC raised its position in shares of 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 worth $48,000 after purchasing an additional 1,847 shares during the period. CWM LLC raised its position in shares of A-Mark Precious Metals by 1,192.3% during the first quarter. CWM LLC now owns 2,184 shares of the company's stock worth $55,000 after purchasing an additional 2,015 shares during the period. Finally, NBC Securities Inc. acquired a new stake in shares of A-Mark Precious Metals during the first quarter worth about $70,000. Institutional investors and hedge funds own 75.25% of the company's stock.

A-Mark Precious Metals Company Profile

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.