A-Mark Precious Metals (NASDAQ:AMRK) Shares Up 6.3% on Analyst Upgrade

Shares of A-Mark Precious Metals, Inc. (NASDAQ:AMRKGet Rating) rose 6.3% on Thursday after DA Davidson raised their price target on the stock from $52.00 to $57.00. The stock traded as high as $26.02 and last traded at $25.98. Approximately 905 shares traded hands during trading, a decline of 100% from the average daily volume of 279,678 shares. The stock had previously closed at $24.43.

Separately, Northland Securities lifted their price target on shares of A-Mark Precious Metals from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, May 25th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Federated Hermes Inc. boosted its holdings in shares of A-Mark Precious Metals by 2,536.4% in the 2nd quarter. Federated Hermes Inc. now owns 18,929 shares of the company’s stock valued at $610,000 after buying an additional 18,211 shares during the period. Prelude Capital Management LLC boosted its stake in A-Mark Precious Metals by 69.5% during the 2nd quarter. Prelude Capital Management LLC now owns 8,850 shares of the company’s stock valued at $285,000 after purchasing an additional 3,629 shares during the period. Legal & General Group Plc boosted its stake in A-Mark Precious Metals by 98.8% during the 2nd quarter. Legal & General Group Plc now owns 5,978 shares of the company’s stock valued at $192,000 after purchasing an additional 2,971 shares during the period. Goldman Sachs Group Inc. boosted its stake in A-Mark Precious Metals by 60.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 128,759 shares of the company’s stock valued at $4,153,000 after purchasing an additional 48,681 shares during the period. Finally, Prudential Financial Inc. acquired a new position in A-Mark Precious Metals during the 2nd quarter valued at about $998,000. 59.78% of the stock is owned by institutional investors and hedge funds.

A-Mark Precious Metals Price Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.53 and a current ratio of 1.41. The business’s 50 day simple moving average is $31.09 and its 200-day simple moving average is $34.04. The stock has a market capitalization of $604.45 million, a price-to-earnings ratio of 4.75 and a beta of -0.31.

A-Mark Precious Metals Announces Dividend

The company also recently announced a dividend, which will be paid on Monday, September 26th. Shareholders of record on Monday, September 12th will be paid a dividend of $1.00 per share. This represents a yield of 3.57%. The ex-dividend date of this dividend is Friday, September 9th.

A-Mark Precious Metals Company Profile

(Get Rating)

A-Mark Precious Metals, Inc, together with its subsidiaries, operates as a precious metals trading company. It operates in 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.

Further Reading

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