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

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A-Mark Precious Metals (NASDAQ:AMRK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The firm presently has a $13.00 price target on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.68% from the stock’s previous close.

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. “

AMRK has been the subject of several other research reports. ValuEngine cut A-Mark Precious Metals from a “buy” rating to a “hold” rating in a research note on Wednesday. B. Riley reissued a “neutral” rating and issued a $16.50 price target (up previously from $16.00) on shares of A-Mark Precious Metals in a research note on Monday, September 17th. Finally, TheStreet cut A-Mark Precious Metals from a “c” rating to a “d+” rating in a research note on Monday, September 24th.

Shares of NASDAQ:AMRK traded down $0.36 on Thursday, hitting $11.64. The company’s stock had a trading volume of 6,312 shares, compared to its average volume of 6,602. A-Mark Precious Metals has a 12 month low of $10.39 and a 12 month high of $14.77. The stock has a market cap of $84.72 million, a price-to-earnings ratio of -194.00 and a beta of 0.10. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.72 and a current ratio of 1.23.

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

In other A-Mark Precious Metals news, major shareholder William A. Richardson purchased 8,900 shares of the firm’s stock in a transaction dated Monday, October 15th. The stock was bought at an average price of $12.50 per share, with a total value of $111,250.00. Following the completion of the purchase, the insider now owns 265,088 shares in the company, valued at approximately $3,313,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Thor Gjerdrum sold 4,070 shares of the stock in a transaction on Friday, November 30th. The stock was sold at an average price of $12.08, for a total value of $49,165.60. The disclosure for this sale can be found here. In the last three months, insiders sold 6,570 shares of company stock valued at $79,101. Company 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. increased its position in A-Mark Precious Metals Inc (NASDAQ:AMRK) by 36.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 86,733 shares of the company’s stock after buying an additional 23,382 shares during the quarter. 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. Institutional investors and hedge funds own 19.81% 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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