A-Mark Precious Metals (NASDAQ:AMRK) Shares Pass Above 50-Day Moving Average – Here’s Why

A-Mark Precious Metals, Inc. (NASDAQ:AMRK)’s stock price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $27.91 and traded as high as $29.47. A-Mark Precious Metals shares last traded at $29.4050, with a volume of 383,246 shares traded.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AMRK. Roth Capital raised A-Mark Precious Metals to a “strong-buy” rating in a research note on Wednesday, September 10th. DA Davidson set a $34.00 target price on shares of A-Mark Precious Metals in a report on Monday, November 17th. Weiss Ratings restated a “hold (c-)” rating on shares of A-Mark Precious Metals in a research report on Monday, December 1st. Finally, Zacks Research lowered shares of A-Mark Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, A-Mark Precious Metals presently has an average rating of “Moderate Buy” and a consensus target price of $34.67.

A-Mark Precious Metals Stock Performance

The company has a debt-to-equity ratio of 0.42, a current ratio of 1.37 and a quick ratio of 0.58. The business has a 50-day moving average of $27.91 and a 200-day moving average of $25.56. The company has a market capitalization of $724.66 million, a P/E ratio of 105.02 and a beta of 0.35.

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

A-Mark Precious Metals Dividend Announcement

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

Insider Activity

In other news, CEO Gregory N. Roberts sold 21,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $25.38, for a total transaction of $532,980.00. Following the transaction, the chief executive officer owned 28,202 shares of the company’s stock, valued at approximately $715,766.76. This represents a 42.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 127,883 shares of company stock worth $3,306,235 in the last ninety days. 23.10% of the stock is owned by insiders.

Hedge Funds Weigh In On A-Mark Precious Metals

Hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC increased its stake in A-Mark Precious Metals by 213.9% in the first quarter. AQR Capital Management LLC now owns 93,297 shares of the company’s stock worth $2,367,000 after purchasing an additional 63,573 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in A-Mark Precious Metals by 4.9% during 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 in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in A-Mark Precious Metals in the 1st quarter valued at about $955,000. Empowered Funds LLC grew its stake in A-Mark Precious Metals by 451.4% in the 1st quarter. Empowered Funds LLC now owns 97,264 shares of the company’s stock worth $2,468,000 after acquiring an additional 79,624 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in A-Mark Precious Metals by 55.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,522 shares of the company’s stock worth $78,000 after acquiring an additional 1,255 shares in the last quarter. Institutional investors own 75.25% of the company’s stock.

A-Mark Precious Metals Company Profile

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.