A-Mark Precious Metals Inc. (AMRK) Issues Quarterly Earnings Results
A-Mark Precious Metals Inc. (NASDAQ:AMRK) posted its quarterly earnings data on Wednesday. The company reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.10. A-Mark Precious Metals had a return on equity of 17.28% and a net margin of 0.16%.
Shares of A-Mark Precious Metals (NASDAQ:AMRK) traded down 2.23% on Wednesday, reaching $16.20. The company’s stock had a trading volume of 24,555 shares. The stock has a market cap of $113.34 million and a P/E ratio of 10.73. The firm’s 50-day moving average price is $16.99 and its 200-day moving average price is $17.85. A-Mark Precious Metals has a 12 month low of $11.13 and a 12 month high of $22.07.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Monday, September 19th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.69%. The ex-dividend date is Thursday, September 15th. A-Mark Precious Metals’s payout ratio is 18.92%.
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In related news, CEO Gregory N. Roberts sold 3,300 shares of A-Mark Precious Metals stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $16.69, for a total value of $55,077.00. Following the completion of the sale, the chief executive officer now owns 65,556 shares of the company’s stock, valued at approximately $1,094,129.64. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 44.90% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of A-Mark Precious Metals by 1.8% in the second quarter. Vanguard Group Inc. now owns 172,142 shares of the company’s stock valued at $2,785,000 after buying an additional 3,013 shares during the period. Spark Investment Management LLC raised its stake in shares of A-Mark Precious Metals by 33.3% in the second quarter. Spark Investment Management LLC now owns 17,600 shares of the company’s stock valued at $284,000 after buying an additional 4,400 shares during the period. O Shaughnessy Asset Management LLC raised its stake in shares of A-Mark Precious Metals by 2,585.4% in the second quarter. O Shaughnessy Asset Management LLC now owns 6,982 shares of the company’s stock valued at $113,000 after buying an additional 6,722 shares during the period. Cannell Capital LLC purchased a new stake in shares of A-Mark Precious Metals during the second quarter valued at $121,000. Finally, JPMorgan Chase & Co. raised its stake in shares of A-Mark Precious Metals by 656.3% in the second quarter. JPMorgan Chase & Co. now owns 9,567 shares of the company’s stock valued at $155,000 after buying an additional 8,302 shares during the period. 20.62% of the stock is owned by institutional investors.
Several research firms recently weighed in on AMRK. TheStreet cut shares of A-Mark Precious Metals from a “hold” rating to a “sell” rating in a research report on Wednesday, August 17th. B. Riley reaffirmed a “neutral” rating and set a $18.50 price objective on shares of A-Mark Precious Metals in a research report on Tuesday. Finally, Zacks Investment Research raised shares of A-Mark Precious Metals from a “sell” rating to a “hold” rating in a research report on Monday, July 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. A-Mark Precious Metals has an average rating of “Hold” and an average price target of $21.17.
About A-Mark Precious Metals
A-Mark Precious Metals, Inc is a precious metals trading company. The Company is a wholesaler of gold, silver, platinum and palladium bullion and related products, including bars, wafers, grain and coins. The Company also distributes gold and silver coins and bars from sovereign and private mints; provides financing for the purchase of bullion and numismatics; offers secure storage for bullion, and offers complementary products, such as consignment, customized finance and liquidity programs, such as Repo accounts, and trade quotes in a range of foreign currencies.
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