A-Mark Precious Metals, Inc. (AMRK) Upgraded by Zacks Investment Research to Hold
A-Mark Precious Metals, Inc. (NASDAQ:AMRK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
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. “
Separately, B. Riley reiterated a “neutral” rating and issued a $19.00 target price on shares of A-Mark Precious Metals in a research report on Monday, September 18th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $21.65.
A-Mark Precious Metals (NASDAQ:AMRK) last announced its earnings results on Tuesday, September 12th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.10). A-Mark Precious Metals had a net margin of 0.10% and a return on equity of 9.95%. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.81 billion. analysts predict that A-Mark Precious Metals will post 1.3 earnings per share for the current fiscal year.
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In related news, CEO Gregory N. Roberts sold 3,300 shares of the business’s stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $16.37, for a total transaction of $54,021.00. Following the transaction, the chief executive officer now directly owns 26,056 shares in the company, valued at $426,536.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 10,900 shares of company stock worth $181,644 over the last 90 days. 38.80% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of AMRK. Bank of New York Mellon Corp acquired a new position in A-Mark Precious Metals in the 1st quarter valued at about $180,000. Wells Fargo & Company MN boosted its holdings in A-Mark Precious Metals by 1,110,000.0% in the 2nd quarter. Wells Fargo & Company MN now owns 11,101 shares of the company’s stock valued at $182,000 after purchasing an additional 11,100 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in A-Mark Precious Metals by 13.4% in the 1st quarter. JPMorgan Chase & Co. now owns 15,470 shares of the company’s stock valued at $264,000 after purchasing an additional 1,829 shares during the last quarter. Wedbush Securities Inc. boosted its holdings in A-Mark Precious Metals by 52.5% in the 2nd quarter. Wedbush Securities Inc. now owns 25,162 shares of the company’s stock valued at $412,000 after purchasing an additional 8,662 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in A-Mark Precious Metals by 5.9% in the 2nd quarter. Northern Trust Corp now owns 34,386 shares of the company’s stock valued at $564,000 after purchasing an additional 1,902 shares during the last quarter. Institutional investors own 19.85% of the company’s stock.
A-Mark Precious Metals Company Profile
A-Mark Precious Metals, Inc is a precious metal trading company. The Company is a wholesaler of gold, silver, platinum and palladium bullion and related products, including bars, wafers, grain and coins. It distributes gold and silver coins and bars from sovereign and private mints; provides financing for the purchase of bullion and numismatics; offers storage for bullion, and offers complementary products, such as consignment, customized finance and liquidity programs, such as repurchase (Repo) accounts, and trade quotes in a variety of foreign currencies.
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