A-Mark Precious Metals (NASDAQ:AMRK) Price Target Lowered to $29.00 at DA Davidson

A-Mark Precious Metals (NASDAQ:AMRK) had its price target cut by stock analysts at DA Davidson from $35.00 to $29.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson’s price target suggests a potential upside of 34.32% from the company’s current price.

Several other equities research analysts have also commented on the stock. B. Riley decreased their price objective on shares of A-Mark Precious Metals from $37.00 to $34.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Northland Securities reduced their target price on shares of A-Mark Precious Metals from $40.00 to $36.00 and set a “market perform” rating for the company in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $40.50.

A-Mark Precious Metals Price Performance

Shares of NASDAQ AMRK opened at $21.59 on Thursday. The firm’s 50-day moving average price is $25.06 and its 200-day moving average price is $27.89. The firm has a market capitalization of $496.98 million, a P/E ratio of 10.53 and a beta of 0.32. The company has a current ratio of 1.58, a quick ratio of 0.31 and a debt-to-equity ratio of 0.34. A-Mark Precious Metals has a 1-year low of $19.76 and a 1-year high of $47.39.

A-Mark Precious Metals (NASDAQ:AMRK) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.54). The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.66 billion. A-Mark Precious Metals had a net margin of 0.46% and a return on equity of 9.29%. Equities research analysts anticipate that A-Mark Precious Metals will post 2.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On A-Mark Precious Metals

A number of institutional investors and hedge funds have recently bought and sold shares of AMRK. Barclays PLC raised its holdings in shares of A-Mark Precious Metals by 349.0% during the 3rd quarter. Barclays PLC now owns 28,536 shares of the company’s stock valued at $1,259,000 after buying an additional 22,181 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of A-Mark Precious Metals by 136.3% during the third quarter. JPMorgan Chase & Co. now owns 35,207 shares of the company’s stock valued at $1,555,000 after buying an additional 20,309 shares during the period. SG Americas Securities LLC raised its position in shares of A-Mark Precious Metals by 14.5% in the 4th quarter. SG Americas Securities LLC now owns 7,511 shares of the company’s stock worth $206,000 after acquiring an additional 949 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in A-Mark Precious Metals during the fourth quarter valued at $307,000. Finally, Empowered Funds LLC boosted its stake in A-Mark Precious Metals by 4.6% during the fourth quarter. Empowered Funds LLC now owns 17,640 shares of the company’s stock worth $483,000 after acquiring an additional 782 shares in the last quarter. 75.25% of the stock is owned by hedge funds and other institutional investors.

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.