DA Davidson Boosts A-Mark Precious Metals (NASDAQ:AMRK) Price Target to $52.00

A-Mark Precious Metals (NASDAQ:AMRK) had its price target raised by DA Davidson from $47.00 to $52.00 in a research report sent to investors on Monday, Benzinga reports. DA Davidson currently has a buy rating on the stock.

Separately, StockNews.com upgraded A-Mark Precious Metals from a sell rating to a hold rating in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, A-Mark Precious Metals has a consensus rating of Hold and a consensus price target of $49.33.

A-Mark Precious Metals Stock Performance

Shares of A-Mark Precious Metals stock opened at $44.68 on Monday. The business has a 50-day moving average of $39.37 and a 200 day moving average of $36.95. A-Mark Precious Metals has a 12 month low of $23.14 and a 12 month high of $47.39. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 13.71 and a beta of -0.05. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.63 and a quick ratio of 0.39.

A-Mark Precious Metals (NASDAQ:AMRK) last announced its earnings results on Thursday, August 29th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.59). A-Mark Precious Metals had a net margin of 0.68% and a return on equity of 13.28%. The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.64 billion. As a group, sell-side analysts forecast that A-Mark Precious Metals will post 4.29 earnings per share for the current year.

A-Mark Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 8th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Tuesday, October 8th. A-Mark Precious Metals’s dividend payout ratio is currently 24.54%.

Insider Buying and Selling at A-Mark Precious Metals

In other news, Director Michael R. Wittmeyer sold 25,841 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $44.35, for a total transaction of $1,146,048.35. Following the sale, the director now owns 292,535 shares of the company’s stock, valued at approximately $12,973,927.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Michael R. Wittmeyer sold 25,841 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $44.35, for a total transaction of $1,146,048.35. Following the sale, the director now owns 292,535 shares of the company’s stock, valued at approximately $12,973,927.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael R. Wittmeyer sold 10,975 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $43.30, for a total value of $475,217.50. Following the sale, the director now directly owns 292,535 shares in the company, valued at approximately $12,666,765.50. The disclosure for this sale can be found here. Insiders have sold 110,316 shares of company stock valued at $4,911,036 in the last quarter. Corporate insiders own 23.20% of the company’s stock.

Institutional Investors Weigh In On A-Mark Precious Metals

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Capstone Investment Advisors LLC purchased a new position in A-Mark Precious Metals during the 4th quarter worth approximately $220,000. Campbell & CO Investment Adviser LLC purchased a new position in A-Mark Precious Metals during the 4th quarter worth approximately $714,000. B. Riley Wealth Advisors Inc. grew its stake in A-Mark Precious Metals by 164.1% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 109,960 shares of the company’s stock worth $3,326,000 after buying an additional 68,320 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in A-Mark Precious Metals by 34.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 201,108 shares of the company’s stock worth $6,172,000 after buying an additional 51,531 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in A-Mark Precious Metals by 99.6% during the 1st quarter. BNP Paribas Financial Markets now owns 34,118 shares of the company’s stock worth $1,047,000 after buying an additional 17,023 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, 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.