A-Mark Precious Metals (NASDAQ:AMRK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday.
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. “
Several other equities analysts have also recently issued reports on the company. ValuEngine cut A-Mark Precious Metals from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. B. Riley restated a “hold” rating and issued a $19.00 price target on shares of A-Mark Precious Metals in a research report on Monday, November 13th. Finally, dropped their price target on A-Mark Precious Metals from $19.00 to $17.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $19.60.
A-Mark Precious Metals (NASDAQ:AMRK) last posted its earnings results on Thursday, February 8th. The company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.05. A-Mark Precious Metals had a return on equity of 7.75% and a net margin of 0.08%. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.49 billion. equities research analysts forecast that A-Mark Precious Metals will post 0.43 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN increased its position 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 acquiring an additional 11,100 shares during the period. Northern Trust Corp increased its position 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 acquiring an additional 1,902 shares during the period. Shufro Rose & Co. LLC increased its position in A-Mark Precious Metals by 2.7% in the 3rd quarter. Shufro Rose & Co. LLC now owns 221,550 shares of the company’s stock valued at $3,658,000 after acquiring an additional 5,800 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in A-Mark Precious Metals by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 269,694 shares of the company’s stock valued at $4,434,000 after acquiring an additional 2,694 shares during the period. Hedge funds and other institutional investors own 19.66% of the company’s stock.
About A-Mark Precious Metals
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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