DA Davidson Cuts A-Mark Precious Metals (NASDAQ:AMRK) Price Target to $43.00

A-Mark Precious Metals (NASDAQ:AMRK - Get Free Report) had its price target decreased by research analysts at DA Davidson from $52.00 to $43.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. DA Davidson's price target suggests a potential upside of 32.59% from the company's previous close.

Separately, StockNews.com upgraded A-Mark Precious Metals from a "sell" rating to a "hold" rating in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $46.33.

A-Mark Precious Metals Price Performance

Shares of NASDAQ AMRK traded down $5.20 during mid-day trading on Thursday, reaching $32.43. The company had a trading volume of 1,012,260 shares, compared to its average volume of 353,424. The firm has a market cap of $751.37 million, a price-to-earnings ratio of 11.80 and a beta of -0.01. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.39 and a current ratio of 1.63. A-Mark Precious Metals has a one year low of $23.14 and a one year high of $47.39. The business's 50-day simple moving average is $41.88 and its 200 day simple moving average is $38.30.

A-Mark Precious Metals (NASDAQ:AMRK - Get Free Report) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.85 EPS for the quarter, missing analysts' consensus estimates of $1.44 by ($0.59). The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.64 billion. A-Mark Precious Metals had a net margin of 0.68% and a return on equity of 13.28%. On average, research analysts predict that A-Mark Precious Metals will post 4.29 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jess M. Ravich sold 14,500 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $45.68, for a total value of $662,360.00. Following the sale, the director now directly owns 190,500 shares of the company's stock, valued at approximately $8,702,040. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Jess M. Ravich sold 14,500 shares of the company's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $45.68, for a total value of $662,360.00. Following the completion of the transaction, the director now owns 190,500 shares of the company's stock, valued at approximately $8,702,040. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Gregory N. Roberts sold 22,000 shares of the firm's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $45.44, for a total transaction of $999,680.00. Following the transaction, the chief executive officer now directly owns 28,202 shares of the company's stock, valued at $1,281,498.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,316 shares of company stock worth $4,911,036. Insiders own 48.64% of the company's stock.

Hedge Funds Weigh In On A-Mark Precious Metals

A number of hedge funds have recently added to or reduced their stakes in the stock. Quarry LP raised its stake in shares of A-Mark Precious Metals by 94.1% during the 2nd quarter. Quarry LP now owns 1,112 shares of the company's stock worth $36,000 after acquiring an additional 539 shares in the last quarter. nVerses Capital LLC purchased a new position in A-Mark Precious Metals during the 2nd quarter worth $45,000. Strategic Investment Solutions Inc. IL acquired a new position in A-Mark Precious Metals during the 3rd quarter valued at about $88,000. Victory Capital Management Inc. purchased a new stake in A-Mark Precious Metals in the third quarter valued at about $226,000. Finally, Fermata Advisors LLC purchased a new stake in shares of A-Mark Precious Metals during the third quarter worth about $232,000. 75.25% of the stock is currently owned by institutional investors.

About A-Mark Precious Metals

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.

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