Zacks Investment Research upgraded shares of A-Mark Precious Metals Inc. (NASDAQ:AMRK) from a strong sell rating to a strong-buy rating in a research report sent to investors on Wednesday. Zacks Investment Research currently has $19.00 price target on the stock.
According to Zacks, “A-Mark Precious Metals, Inc. operates as a full service precious metals trading company offering a wide array of products and services. The Company’s products include gold, silver, platinum and palladium for storage and delivery in the form of coins, bars, wafers and grain. Its services include financing, leasing, consignment, hedging and a variety of customized financial programs. The Company’s clients include coin and metal dealers, investors, collectors, mines, manufacturers, refiners, jewelers, investment advisors, merchants, commodity brokerage houses and central banks. A-Mark Precious Metals, Inc. is based in Santa Monica, California. “
Several other equities analysts have also commented on the stock. B. Riley restated a neutral rating and issued a $17.50 price objective on shares of A-Mark Precious Metals in a report on Sunday, November 13th. TheStreet lowered shares of A-Mark Precious Metals from a hold rating to a sell rating in a report on Wednesday, August 17th. One analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $19.83.
Shares of A-Mark Precious Metals (NASDAQ:AMRK) opened at 16.27 on Wednesday. A-Mark Precious Metals has a 52 week low of $14.02 and a 52 week high of $22.07. The firm has a market capitalization of $114.39 million, a P/E ratio of 20.99 and a beta of 0.07. The firm has a 50-day moving average of $15.88 and a 200 day moving average of $16.34.
A-Mark Precious Metals (NASDAQ:AMRK) last issued its quarterly earnings data on Monday, November 7th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.03 by $0.24. A-Mark Precious Metals had a net margin of 0.08% and a return on equity of 8.63%. On average, equities research analysts expect that A-Mark Precious Metals will post $1.15 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 14th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Wednesday, November 9th. A-Mark Precious Metals’s payout ratio is currently 35.90%.
In related news, CEO Gregory N. Roberts sold 3,300 shares of the company’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $16.35, for a total transaction of $53,955.00. Following the sale, the chief executive officer now directly owns 68,956 shares of the company’s stock, valued at approximately $1,127,430.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 44.90% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Northern Trust Corp increased its stake in shares of A-Mark Precious Metals by 3.9% in the third quarter. Northern Trust Corp now owns 25,066 shares of the company’s stock worth $403,000 after buying an additional 935 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of A-Mark Precious Metals by 33.2% in the third quarter. JPMorgan Chase & Co. now owns 12,741 shares of the company’s stock worth $204,000 after buying an additional 3,174 shares in the last quarter. Granite Investment Partners LLC increased its stake in shares of A-Mark Precious Metals by 7.1% in the third quarter. Granite Investment Partners LLC now owns 131,625 shares of the company’s stock worth $2,112,000 after buying an additional 8,691 shares in the last quarter. Numeric Investors LLC increased its stake in shares of A-Mark Precious Metals by 39.2% in the second quarter. Numeric Investors LLC now owns 138,648 shares of the company’s stock worth $2,243,000 after buying an additional 39,053 shares in the last quarter. Finally, Mork Capital Management LLC increased its stake in shares of A-Mark Precious Metals by 25.0% in the second quarter. Mork Capital Management LLC now owns 50,000 shares of the company’s stock worth $809,000 after buying an additional 10,000 shares in the last quarter. 19.46% of the stock is currently owned by hedge funds and other institutional investors.
A-Mark Precious Metals Company Profile
A-Mark Precious Metals, Inc is a precious metals trading company. The Company is a wholesaler of gold, silver, platinum and palladium bullion and related products, including bars, wafers, grain and coins. The Company also distributes gold and silver coins and bars from sovereign and private mints; provides financing for the purchase of bullion and numismatics; offers secure storage for bullion, and offers complementary products, such as consignment, customized finance and liquidity programs, such as Repo accounts, and trade quotes in a range of foreign currencies.