A-Mark Precious Metals (NASDAQ:AMRK) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of A-Mark Precious Metals (NASDAQ:AMRK) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other equities research analysts also recently weighed in on the company. DA Davidson cut their target price on A-Mark Precious Metals from $35.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Northland Securities cut their price objective on A-Mark Precious Metals from $40.00 to $36.00 and set a “market perform” rating for the company in a research report on Friday, February 7th. Finally, B. Riley cut their price objective on A-Mark Precious Metals from $37.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $40.50.

A-Mark Precious Metals Stock Performance

Shares of AMRK stock opened at $21.07 on Friday. A-Mark Precious Metals has a 12-month low of $19.76 and a 12-month high of $47.39. The firm has a market capitalization of $518.85 million, a price-to-earnings ratio of 10.28 and a beta of 0.32. The business has a 50 day simple moving average of $24.39 and a 200 day simple moving average of $27.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.58 and a quick ratio of 0.31.

A-Mark Precious Metals (NASDAQ:AMRK) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.54). The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.66 billion. A-Mark Precious Metals had a return on equity of 9.29% and a net margin of 0.46%. On average, equities research analysts anticipate that A-Mark Precious Metals will post 2.11 EPS for the current year.

A-Mark Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 15th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.80%. A-Mark Precious Metals’s payout ratio is currently 54.05%.

Hedge Funds Weigh In On A-Mark Precious Metals

A number of hedge funds have recently modified their holdings of the stock. Empowered Funds LLC increased its position in A-Mark Precious Metals by 451.4% during the first quarter. Empowered Funds LLC now owns 97,264 shares of the company’s stock worth $2,468,000 after buying an additional 79,624 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of A-Mark Precious Metals in the first quarter valued at about $955,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in A-Mark Precious Metals by 4.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,531 shares of the company’s stock worth $267,000 after purchasing an additional 489 shares during the period. Invenomic Capital Management LP bought a new position in A-Mark Precious Metals during the first quarter worth about $8,552,000. Finally, Bridgeway Capital Management LLC increased its holdings in shares of A-Mark Precious Metals by 288.1% during the first quarter. Bridgeway Capital Management LLC now owns 107,264 shares of the company’s stock worth $2,721,000 after buying an additional 79,624 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.