A-Mark Precious Metals, Inc. (NASDAQ:AMRK) Receives $34.67 Average Price Target from Brokerages

A-Mark Precious Metals, Inc. (NASDAQ:AMRK) has received a consensus rating of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $34.6667.

Several brokerages have commented on AMRK. DA Davidson set a $34.00 price objective on shares of A-Mark Precious Metals in a report on Monday, November 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of A-Mark Precious Metals in a research report on Monday, December 1st. Roth Capital raised shares of A-Mark Precious Metals to a “strong-buy” rating in a research note on Wednesday, September 10th. Finally, Zacks Research cut A-Mark Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th.

Insiders Place Their Bets

In other A-Mark Precious Metals news, CEO Gregory N. Roberts sold 20,000 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $26.37, for a total value of $527,400.00. Following the completion of the transaction, the chief executive officer owned 28,202 shares in the company, valued at approximately $743,686.74. This represents a 41.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 127,883 shares of company stock valued at $3,306,235 over the last 90 days. 23.10% of the stock is owned by corporate insiders.

Institutional Trading of A-Mark Precious Metals

Hedge funds have recently modified their holdings of the business. American Century Companies Inc. increased its stake in shares of A-Mark Precious Metals by 16.6% in the 2nd quarter. American Century Companies Inc. now owns 1,461,989 shares of the company’s stock worth $32,427,000 after acquiring an additional 208,300 shares in the last quarter. Vanguard Group Inc. grew its holdings in A-Mark Precious Metals by 0.9% in the third quarter. Vanguard Group Inc. now owns 1,184,715 shares of the company’s stock worth $30,649,000 after purchasing an additional 10,820 shares during the period. Geode Capital Management LLC grew its holdings in A-Mark Precious Metals by 6.3% in the second quarter. Geode Capital Management LLC now owns 462,582 shares of the company’s stock worth $10,262,000 after purchasing an additional 27,551 shares during the period. Invenomic Capital Management LP bought a new position in shares of A-Mark Precious Metals during the first quarter valued at approximately $8,552,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of A-Mark Precious Metals by 5.6% during the third quarter. Ameriprise Financial Inc. now owns 331,028 shares of the company’s stock valued at $8,564,000 after purchasing an additional 17,513 shares during the last quarter. Institutional investors own 75.25% of the company’s stock.

A-Mark Precious Metals Trading Up 2.4%

NASDAQ AMRK opened at $29.41 on Monday. The stock has a market cap of $724.66 million, a P/E ratio of 105.02 and a beta of 0.35. A-Mark Precious Metals has a fifty-two week low of $19.39 and a fifty-two week high of $30.50. The stock has a 50 day simple moving average of $27.62 and a two-hundred day simple moving average of $25.03. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.58 and a current ratio of 1.37.

A-Mark Precious Metals (NASDAQ:AMRK) last posted its earnings results on Friday, November 7th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.66). A-Mark Precious Metals had a net margin of 0.06% and a return on equity of 6.25%. The business had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $2.67 billion. On average, analysts forecast that A-Mark Precious Metals will post 2.11 earnings per share for the current year.

A-Mark Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 2nd. Investors of record on Wednesday, November 19th were given a dividend of $0.20 per share. The ex-dividend date was Wednesday, November 19th. This represents a $0.80 annualized dividend and a dividend yield of 2.7%. A-Mark Precious Metals’s payout ratio is currently 285.71%.

About A-Mark Precious Metals

A-Mark Precious Metals, Inc is a leading distributor and wholesaler of precious metal products, specializing in fine gold, silver, platinum and palladium bullion and coins. The company sources, buys, and sells physical precious metals to a diverse customer base that includes refiners, fabricators, financial institutions, and retail dealers. Leveraging a robust network of suppliers and market-making capabilities, A-Mark provides timely and reliable access to bullion bars, rounds and government-minted coins in various weights and purities.

In addition to its distribution business, A-Mark offers integrated logistics and inventory management services designed to support clients’ operational needs.