DA Davidson Reaffirms "Buy" Rating for A-Mark Precious Metals (NASDAQ:AMRK)

Key Points

• DA Davidson has reaffirmed its "Buy" rating for A-Mark Precious Metals (NASDAQ:AMRK) with a target price of $29.00, indicating a potential upside of 30.17% from the recent close.
• Wall Street Zen upgraded A-Mark Precious Metals from a "sell" to a "hold" rating, with the stock currently having a consensus rating of "Hold" and an average price target of $33.00.
• Institutional investors hold a significant stake in A-Mark Precious Metals, with 75.25% of the stock owned by such entities, highlighting strong institutional interest.

A-Mark Precious Metals (NASDAQ:AMRK - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at DA Davidson in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $29.00 price objective on the stock. DA Davidson's target price suggests a potential upside of 30.17% from the company's previous close.

Separately, Wall Street Zen upgraded A-Mark Precious Metals from a "sell" rating to a "hold" rating in a research note on Saturday, May 17th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, A-Mark Precious Metals currently has a consensus rating of "Hold" and an average price target of $33.00.

A-Mark Precious Metals Stock Performance

Shares of NASDAQ AMRK traded down $2.17 during midday trading on Wednesday, hitting $22.28. 167,585 shares of the company's stock were exchanged, compared to its average volume of 254,871. The company has a quick ratio of 0.39, a current ratio of 1.56 and a debt-to-equity ratio of 0.46. A-Mark Precious Metals has a 12 month low of $19.39 and a 12 month high of $47.39. The company's 50 day moving average price is $22.81 and its 200 day moving average price is $23.35. The firm has a market capitalization of $548.48 million, a PE ratio of 15.07 and a beta of 0.16.

Hedge Funds Weigh In On A-Mark Precious Metals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas raised its holdings in A-Mark Precious Metals by 6.7% in the 1st quarter. Teacher Retirement System of Texas now owns 57,344 shares of the company's stock valued at $1,455,000 after acquiring an additional 3,582 shares in the last quarter. New York State Teachers Retirement System acquired a new position in A-Mark Precious Metals in the 1st quarter valued at $41,000. Raymond James Financial Inc. raised its holdings in A-Mark Precious Metals by 2,692.0% in the 1st quarter. Raymond James Financial Inc. now owns 241,177 shares of the company's stock valued at $6,119,000 after acquiring an additional 232,539 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in A-Mark Precious Metals in the 4th quarter valued at $5,059,000. Finally, Deutsche Bank AG raised its holdings in shares of A-Mark Precious Metals by 95.9% during 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 in the last quarter. 75.25% of the stock is owned by institutional investors and hedge funds.

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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