Canaccord Genuity Group Begins Coverage on Gold.com (NYSE:GOLD)

Equities research analysts at Canaccord Genuity Group assumed coverage on shares of Gold.com (NYSE:GOLD) in a research note issued to investors on Tuesday. The firm set a “buy” rating on the stock.

A number of other analysts have also issued reports on the company. Weiss Ratings upgraded Gold.com from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 20th. DA Davidson reiterated a “buy” rating and set a $60.00 price target on shares of Gold.com in a report on Tuesday, April 28th. Zacks Research raised Gold.com from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 1st. Finally, Roth Mkm set a $52.00 price objective on Gold.com in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $59.75.

Gold.com Price Performance

Gold.com stock opened at $40.50 on Tuesday. Gold.com has a fifty-two week low of $20.54 and a fifty-two week high of $66.70. The stock has a 50 day moving average price of $42.99. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.29 and a current ratio of 1.18. The stock has a market capitalization of $1.17 billion, a P/E ratio of 13.87 and a beta of 0.53.

Gold.com (NYSE:GOLD) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $1.62. Gold.com had a net margin of 0.35% and a return on equity of 17.82%. The firm had revenue of $10.35 billion during the quarter, compared to analyst estimates of $4.81 billion. On average, analysts expect that Gold.com will post 5.31 EPS for the current fiscal year.

Gold.com announced that its board has initiated a share repurchase plan on Wednesday, April 8th that permits the company to buyback 2,000,000,000,000 shares. This buyback authorization permits the company to reacquire up to 7.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Gold.com news, major shareholder Tether Global Investments Fund bought 530,338 shares of Gold.com stock in a transaction on Tuesday, May 5th. The stock was purchased at an average cost of $44.50 per share, for a total transaction of $23,600,041.00. Following the completion of the purchase, the insider directly owned 3,370,787 shares of the company’s stock, valued at $150,000,021.50. The trade was a 18.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory N. Roberts sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $41.58, for a total transaction of $1,663,200.00. Following the completion of the sale, the chief executive officer directly owned 28,202 shares of the company’s stock, valued at $1,172,639.16. This represents a 58.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have bought 730,338 shares of company stock valued at $31,842,096 and have sold 90,000 shares valued at $3,723,200. Insiders own 23.10% of the company’s stock.

Institutional Investors Weigh In On Gold.com

Several institutional investors and hedge funds have recently modified their holdings of GOLD. Daytona Street Capital LLC acquired a new position in Gold.com during the fourth quarter worth $68,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Gold.com in the fourth quarter worth about $890,000. State of Alaska Department of Revenue acquired a new stake in shares of Gold.com in the fourth quarter worth about $44,000. CWM LLC bought a new stake in shares of Gold.com during the 4th quarter worth about $35,000. Finally, Nations Financial Group Inc. IA ADV acquired a new position in shares of Gold.com during the 4th quarter valued at about $1,319,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Gold.com Company Profile

A-Mark Precious Metals, Inc, together with its subsidiaries, operates as a precious metals trading company. It operates in 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. This segment also offers various ancillary services, including financing, storage, consignment, logistics, and various customized financial programs; and designs and produces minted silver products.