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

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

A-Mark Precious Metals Stock Up 1.2%

AMRK traded up $0.30 during trading on Friday, reaching $25.29. 565,191 shares of the stock traded hands, compared to its average volume of 325,928. The stock has a market cap of $623.15 million, a price-to-earnings ratio of 90.32 and a beta of 0.34. A-Mark Precious Metals has a fifty-two week low of $19.39 and a fifty-two week high of $32.90. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.56 and a quick ratio of 0.42. The stock’s 50-day simple moving average is $26.34 and its two-hundred day simple moving average is $23.65.

A-Mark Precious Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Wednesday, November 19th will be issued a dividend of $0.20 per share. 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 (DPR) is currently 115.94%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, Director Moorhead John sold 2,600 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $26.97, for a total transaction of $70,122.00. Following the completion of the sale, the director directly owned 32,974 shares of the company’s stock, valued at $889,308.78. This trade represents a 7.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 23.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On A-Mark Precious Metals

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in A-Mark Precious Metals by 0.9% in the third quarter. Vanguard Group Inc. now owns 1,184,715 shares of the company’s stock valued at $30,649,000 after acquiring an additional 10,820 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of 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 worth $267,000 after purchasing an additional 489 shares during the last quarter. Brevan Howard Capital Management LP acquired a new position in shares of A-Mark Precious Metals during the 2nd quarter worth $419,000. Rhumbline Advisers raised its holdings in shares of A-Mark Precious Metals by 10.9% during the 2nd quarter. Rhumbline Advisers now owns 30,966 shares of the company’s stock valued at $687,000 after purchasing an additional 3,039 shares in the last quarter. Finally, Gamco Investors INC. ET AL acquired a new stake in shares of A-Mark Precious Metals in the 2nd quarter valued at $856,000. Institutional investors and hedge funds own 75.25% of the company’s stock.

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.