A-Mark Precious Metals (NASDAQ:AMRK) Sets New 1-Year High Following Analyst Upgrade

A-Mark Precious Metals, Inc. (NASDAQ:AMRK - Get Free Report) reached a new 52-week high on Thursday after DA Davidson raised their price target on the stock from $42.00 to $47.00. DA Davidson currently has a buy rating on the stock. A-Mark Precious Metals traded as high as $43.15 and last traded at $42.62, with a volume of 179679 shares trading hands. The stock had previously closed at $40.32.

Other equities analysts have also issued research reports about the company. Maxim Group assumed coverage on A-Mark Precious Metals in a research note on Wednesday, May 22nd. They issued a "buy" rating and a $63.00 price target for the company. Northland Securities lowered A-Mark Precious Metals from an "outperform" rating to a "market perform" rating in a research note on Wednesday, May 8th. B. Riley lowered A-Mark Precious Metals from a "buy" rating to a "neutral" rating and set a $33.00 price target for the company. in a research note on Wednesday, May 15th. StockNews.com upgraded A-Mark Precious Metals from a "sell" rating to a "hold" rating in a research note on Friday, August 30th. Finally, Northland Capmk lowered A-Mark Precious Metals from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 8th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $47.67.

Institutional Investors Weigh In On A-Mark Precious Metals

Large investors have recently bought and sold shares of the company. Quarry LP increased its stake in 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 buying an additional 539 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of A-Mark Precious Metals during the 2nd quarter worth approximately $45,000. Quest Partners LLC acquired a new position in shares of A-Mark Precious Metals during the 4th quarter worth approximately $184,000. Capstone Investment Advisors LLC acquired a new position in shares of A-Mark Precious Metals during the 4th quarter worth approximately $220,000. Finally, Quantbot Technologies LP boosted its holdings in shares of A-Mark Precious Metals by 192.5% during the 1st quarter. Quantbot Technologies LP now owns 7,438 shares of the company's stock worth $228,000 after purchasing an additional 4,895 shares during the last quarter. 75.25% of the stock is currently owned by hedge funds and other institutional investors.

A-Mark Precious Metals Trading Up 8.0 %

The firm has a market capitalization of $994.88 million, a price-to-earnings ratio of 13.35 and a beta of -0.06. The company has a fifty day moving average price of $35.82 and a two-hundred day moving average price of $34.57. The company has a current ratio of 1.76, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50.

A-Mark Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Thursday, July 18th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.84%. The ex-dividend date was Thursday, July 18th. A-Mark Precious Metals's dividend payout ratio is currently 24.54%.

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.