A-Mark Precious Metals, Inc. (NASDAQ:AMRK) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of A-Mark Precious Metals, Inc. (NASDAQ:AMRK) have received an average recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $33.00.

Several brokerages have issued reports on AMRK. DA Davidson reaffirmed a “buy” rating and set a $29.00 target price on shares of A-Mark Precious Metals in a research report on Wednesday, September 10th. Weiss Ratings restated a “hold (c-)” rating on shares of A-Mark Precious Metals in a report on Saturday, September 27th. Zacks Research upgraded shares of A-Mark Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 11th. Finally, Roth Capital upgraded shares of A-Mark Precious Metals to a “strong-buy” rating in a research note on Wednesday, September 10th.

A-Mark Precious Metals Stock Down 0.7%

Shares of NASDAQ:AMRK opened at $25.58 on Wednesday. A-Mark Precious Metals has a 52-week low of $19.39 and a 52-week high of $44.64. The stock has a market cap of $630.29 million, a P/E ratio of 37.07 and a beta of 0.37. The business’s 50 day moving average is $24.33 and its 200 day moving average is $23.20. The company has a quick ratio of 0.42, a current ratio of 1.56 and a debt-to-equity ratio of 0.50.

A-Mark Precious Metals (NASDAQ:AMRK) last posted its quarterly earnings results 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. A-Mark Precious Metals had a return on equity of 7.77% and a net margin of 0.16%.The business had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter in the prior year, the company earned $0.76 EPS. Sell-side analysts predict that A-Mark Precious Metals will post 2.11 EPS for the current year.

Insider Activity at A-Mark Precious Metals

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 completion of the sale, the director directly owned 32,974 shares in the company, valued at approximately $889,308.78. This trade 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. Corporate insiders own 23.10% of the company’s stock.

Hedge Funds Weigh In On A-Mark Precious Metals

Hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its position in shares of A-Mark Precious Metals by 118.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,311 shares of the company’s stock valued at $29,000 after purchasing an additional 711 shares during the last quarter. New York State Teachers Retirement System purchased a new position in A-Mark Precious Metals in the 1st quarter worth $41,000. Tower Research Capital LLC TRC raised its stake in A-Mark Precious Metals by 624.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,143 shares of the company’s stock worth $48,000 after acquiring an additional 1,847 shares during the last quarter. CWM LLC raised its stake in A-Mark Precious Metals by 1,192.3% in the 1st quarter. CWM LLC now owns 2,184 shares of the company’s stock worth $55,000 after acquiring an additional 2,015 shares during the last quarter. Finally, NBC Securities Inc. acquired a new stake in shares of A-Mark Precious Metals during the first quarter worth about $70,000. 75.25% of the stock is 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.