Brokerages Set A-Mark Precious Metals, Inc. (NASDAQ:AMRK) Price Target at $34.67

A-Mark Precious Metals, Inc. (NASDAQ:AMRK) has been given an average rating of “Moderate Buy” by the six analysts that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $34.6667.

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

A-Mark Precious Metals Trading Up 2.4%

Shares of AMRK stock opened at $29.41 on Monday. The business’s fifty day moving average price is $27.66 and its 200 day moving average price is $25.12. The firm has a market capitalization of $724.66 million, a PE ratio of 105.02 and a beta of 0.35. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.37 and a quick ratio of 0.58. A-Mark Precious Metals has a 1-year low of $19.39 and a 1-year high of $30.50.

A-Mark Precious Metals (NASDAQ:AMRK) last released its earnings results on Friday, November 7th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.67 billion. As a group, sell-side analysts forecast that A-Mark Precious Metals will post 2.11 EPS for the current fiscal year.

A-Mark Precious Metals Dividend Announcement

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

Insider Activity

In related news, CEO Gregory N. Roberts sold 21,000 shares of the business’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $25.38, for a total value of $532,980.00. Following the sale, the chief executive officer directly owned 28,202 shares in the company, valued at $715,766.76. The trade was a 42.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 127,883 shares of company stock worth $3,306,235. 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 added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of A-Mark Precious Metals by 15,414.3% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 1,086 shares of the company’s stock valued at $28,000 after purchasing an additional 1,079 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of A-Mark Precious Metals by 118.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,311 shares of the company’s stock worth $29,000 after purchasing an additional 711 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in A-Mark Precious Metals in the 3rd quarter valued at approximately $33,000. Jones Financial Companies Lllp acquired a new stake in shares of A-Mark Precious Metals during the third quarter valued at $33,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of A-Mark Precious Metals by 624.0% during the 2nd 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. Institutional investors and hedge funds own 75.25% of the company’s stock.

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.