A-Mark Precious Metals (NASDAQ:AMRK) Announces Earnings Results, Misses Expectations By $0.66 EPS

A-Mark Precious Metals (NASDAQ:AMRK) released its quarterly earnings data on Thursday. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.66), reports. A-Mark Precious Metals had a net margin of 0.06% and a return on equity of 6.27%. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $2.67 billion.

A-Mark Precious Metals Trading Up 1.2%

Shares of NASDAQ AMRK traded up $0.30 during midday trading on Friday, hitting $25.29. The company’s stock had a trading volume of 565,191 shares, compared to its average volume of 325,928. A-Mark Precious Metals has a 12-month low of $19.39 and a 12-month high of $32.90. The company has a current ratio of 1.56, a quick ratio of 0.42 and a debt-to-equity ratio of 0.50. The firm has a market cap of $623.15 million, a P/E ratio of 90.32 and a beta of 0.34. The business’s 50 day moving average is $26.34 and its two-hundred day moving average is $23.65.

A-Mark Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Wednesday, November 19th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Wednesday, November 19th. A-Mark Precious Metals’s dividend payout ratio is presently 115.94%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of A-Mark Precious Metals in a research report on Tuesday, October 14th. DA Davidson restated a “buy” rating and set a $29.00 price objective on shares of A-Mark Precious Metals in a research report on Wednesday, September 10th. Roth Capital raised A-Mark Precious Metals to a “strong-buy” rating in a research note on Wednesday, September 10th. Finally, Zacks Research raised A-Mark Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 11th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, A-Mark Precious Metals presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Insider Transactions at A-Mark Precious Metals

In other A-Mark Precious Metals news, Director Moorhead John sold 2,600 shares of the company’s stock in a transaction on 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 $889,308.78. This represents a 7.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 23.10% of the stock is currently owned by insiders.

Institutional Trading of A-Mark Precious Metals

Large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC grew its holdings in shares of A-Mark Precious Metals by 624.0% in 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 last quarter. Russell Investments Group Ltd. boosted its position in A-Mark Precious Metals by 16,463.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,619 shares of the company’s stock valued at $169,000 after buying an additional 7,573 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in A-Mark Precious Metals by 4.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,531 shares of the company’s stock valued at $267,000 after buying an additional 489 shares during the period. Brevan Howard Capital Management LP bought a new position in A-Mark Precious Metals in the 2nd quarter worth about $419,000. Finally, Rhumbline Advisers increased its position in shares of A-Mark Precious Metals by 10.9% during the second quarter. Rhumbline Advisers now owns 30,966 shares of the company’s stock worth $687,000 after acquiring an additional 3,039 shares during the period. 75.25% of the stock is owned by hedge funds and other institutional investors.

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.