Zacks Investment Research Upgrades A-Mark Precious Metals (AMRK) to “Hold”

Zacks Investment Research upgraded shares of A-Mark Precious Metals (NASDAQ:AMRK) from a sell rating to a hold rating in a research 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. “

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

Shares of AMRK traded up $0.84 during mid-day trading on Wednesday, reaching $13.24. The company’s stock had a trading volume of 33,843 shares, compared to its average volume of 9,676. A-Mark Precious Metals has a 12-month low of $10.39 and a 12-month high of $15.80. The company has a market cap of $87.68 million, a P/E ratio of -220.67 and a beta of 0.07. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 1.06.

A-Mark Precious Metals (NASDAQ:AMRK) last released its quarterly earnings data on Thursday, November 8th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.72 billion. As a group, analysts predict that A-Mark Precious Metals will post 0.36 earnings per share for the current fiscal year.

In other news, major shareholder William A. Richardson purchased 8,900 shares of the company’s stock in a transaction that occurred on Monday, October 15th. The shares were purchased at an average price of $12.50 per share, for a total transaction of $111,250.00. Following the purchase, the insider now directly owns 265,088 shares of the company’s stock, valued at approximately $3,313,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 39.50% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its stake in A-Mark Precious Metals by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 317,884 shares of the company’s stock worth $4,221,000 after buying an additional 4,805 shares during the last quarter. Shufro Rose & Co. LLC grew its stake in A-Mark Precious Metals by 3.2% during the 2nd quarter. Shufro Rose & Co. LLC now owns 245,850 shares of the company’s stock worth $3,265,000 after buying an additional 7,600 shares during the last quarter. Wedbush Securities Inc. grew its stake in A-Mark Precious Metals by 6.6% during the 2nd quarter. Wedbush Securities Inc. now owns 63,351 shares of the company’s stock worth $841,000 after buying an additional 3,896 shares during the last quarter. Finally, Cannell Capital LLC grew its stake in A-Mark Precious Metals by 66.7% during the 2nd quarter. Cannell Capital LLC now owns 12,500 shares of the company’s stock worth $166,000 after buying an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 18.29% of the company’s stock.

A-Mark Precious Metals Company Profile

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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