A-Mark Precious Metals (AMRK) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of A-Mark Precious Metals (NASDAQ:AMRK) from a sell rating to a hold rating in a report released on Wednesday morning.

According to Zacks, “A-Mark Precious Metals, Inc. operates as a full service precious metals trading company offering a wide array of products and services. The Company’s products include gold, silver, platinum and palladium for storage and delivery in the form of coins, bars, wafers and grain. Its services include financing, leasing, consignment, hedging and a variety of customized financial programs. The Company’s clients include coin and metal dealers, investors, collectors, mines, manufacturers, refiners, jewelers, investment advisors, merchants, commodity brokerage houses and central banks. A-Mark Precious Metals, Inc. is based in Santa Monica, California. “

Other research analysts also recently issued research reports about the company. TheStreet downgraded A-Mark Precious Metals from a c rating to a d+ rating in a report on Monday, September 24th. B. Riley reaffirmed a neutral rating and set a $16.50 price objective (up previously from $16.00) on shares of A-Mark Precious Metals in a report on Monday, September 17th. Finally, ValuEngine raised A-Mark Precious Metals from a sell rating to a hold rating in a report on Tuesday, July 31st. Four equities research analysts have rated the stock with a hold rating, The company presently has a consensus rating of Hold and a consensus target price of $15.67.

NASDAQ:AMRK opened at $13.24 on Wednesday. A-Mark Precious Metals has a 52-week low of $10.39 and a 52-week high of $15.80. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 1.06. The firm has a market cap of $87.18 million, a price-to-earnings ratio of -220.67 and a beta of 0.07.

A-Mark Precious Metals (NASDAQ:AMRK) last posted its quarterly earnings data on Thursday, November 8th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.13. A-Mark Precious Metals had a negative return on equity of 0.62% and a negative net margin of 0.04%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.72 billion. On average, analysts expect that A-Mark Precious Metals will post 0.36 earnings per share for the current year.

In related news, major shareholder William A. Richardson purchased 8,900 shares of the business’s stock in a transaction dated Monday, October 15th. The shares were bought at an average price of $12.50 per share, with a total value of $111,250.00. Following the purchase, the insider now directly owns 265,088 shares in the company, valued at approximately $3,313,600. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 39.50% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Wedbush Securities Inc. lifted its stake in shares of A-Mark Precious Metals by 6.6% in the 2nd quarter. Wedbush Securities Inc. now owns 63,351 shares of the company’s stock valued at $841,000 after purchasing an additional 3,896 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of A-Mark Precious Metals by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 317,884 shares of the company’s stock valued at $4,221,000 after purchasing an additional 4,805 shares during the period. Cannell Capital LLC lifted its stake in shares of A-Mark Precious Metals by 66.7% in the 2nd quarter. Cannell Capital LLC now owns 12,500 shares of the company’s stock valued at $166,000 after purchasing an additional 5,000 shares during the period. Finally, Shufro Rose & Co. LLC lifted its stake in shares of A-Mark Precious Metals by 3.2% in the 2nd quarter. Shufro Rose & Co. LLC now owns 245,850 shares of the company’s stock valued at $3,265,000 after purchasing an additional 7,600 shares during the period. 18.29% of the stock is currently owned by institutional investors.

About A-Mark Precious Metals

A-Mark Precious Metals, Inc, together with its subsidiaries, operates as a precious metals trading company worldwide. The company offers gold, silver, platinum, and palladium in the form of bars, plates, powder, wafers, grains, ingots, and coins, as well as distributes gold and silver coins and bars from sovereign and private mints.

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