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

A-Mark Precious Metals (NASDAQ:AMRK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued 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. “

A number of other brokerages have also recently commented on AMRK. B. Riley reaffirmed a “neutral” rating and set a $16.50 price objective (up previously from $16.00) on shares of A-Mark Precious Metals in a research note on Monday, September 17th. TheStreet cut shares of A-Mark Precious Metals from a “c” rating to a “d+” rating in a research note on Monday, September 24th. Finally, ValuEngine cut shares of A-Mark Precious Metals from a “buy” rating to a “hold” rating in a research note on Wednesday.

NASDAQ:AMRK traded down $0.36 during midday trading on Friday, hitting $11.64. The company’s stock had a trading volume of 6,312 shares, compared to its average volume of 9,599. A-Mark Precious Metals has a fifty-two week low of $10.39 and a fifty-two week high of $14.77. The company has a current ratio of 1.23, a quick ratio of 0.72 and a debt-to-equity ratio of 1.33. The company has a market cap of $84.72 million, a PE ratio of -194.00 and a beta of 0.10.

A-Mark Precious Metals (NASDAQ:AMRK) last issued its quarterly earnings data on Thursday, November 8th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.13. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.72 billion. A-Mark Precious Metals had a negative net margin of 0.03% and a positive return on equity of 0.79%. Equities research analysts predict that A-Mark Precious Metals will post 0.64 earnings per share for the current fiscal year.

In other news, President Thor Gjerdrum sold 4,070 shares of the stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $12.08, for a total transaction of $49,165.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder William A. Richardson bought 8,900 shares of the firm’s stock in a transaction dated Monday, October 15th. The shares were acquired at an average price of $12.50 per share, for a total transaction of $111,250.00. Following the transaction, the insider now directly owns 265,088 shares in the company, valued at $3,313,600. The disclosure for this purchase can be found here. Insiders have sold a total of 6,570 shares of company stock worth $79,101 in the last quarter. Insiders own 39.50% of the company’s stock.

An institutional investor recently raised its position in A-Mark Precious Metals stock. Wedbush Securities Inc. raised its position in A-Mark Precious Metals Inc (NASDAQ:AMRK) by 36.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 86,733 shares of the company’s stock after purchasing an additional 23,382 shares during the period. Wedbush Securities Inc. owned about 1.23% of A-Mark Precious Metals worth $1,129,000 at the end of the most recent reporting period. 19.81% of the stock is owned by institutional investors.

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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