A-Mark Precious Metals (NASDAQ:AMRK) Shares Gap Down After Earnings Miss

A-Mark Precious Metals, Inc. (NASDAQ:AMRK)’s share price gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $23.88, but opened at $21.71. A-Mark Precious Metals shares last traded at $22.08, with a volume of 161,505 shares trading hands.

The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.54). A-Mark Precious Metals had a return on equity of 9.29% and a net margin of 0.46%. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.66 billion.

A-Mark Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 15th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, April 15th. This represents a $0.80 annualized dividend and a yield of 3.86%. A-Mark Precious Metals’s dividend payout ratio is 39.02%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AMRK shares. DA Davidson lowered their price target on A-Mark Precious Metals from $35.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday. B. Riley lowered their target price on shares of A-Mark Precious Metals from $37.00 to $34.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Finally, Northland Securities reduced their price target on shares of A-Mark Precious Metals from $40.00 to $36.00 and set a “market perform” rating for the company in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $40.50.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Proficio Capital Partners LLC purchased a new stake in shares of A-Mark Precious Metals during the 4th quarter valued at about $338,000. Teacher Retirement System of Texas bought a new position in A-Mark Precious Metals in the fourth quarter worth approximately $1,473,000. ExodusPoint Capital Management LP boosted its stake in shares of A-Mark Precious Metals by 271.5% during the 4th quarter. ExodusPoint Capital Management LP now owns 69,207 shares of the company’s stock worth $1,896,000 after acquiring an additional 50,580 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of A-Mark Precious Metals by 43.6% during the 4th quarter. Bank of New York Mellon Corp now owns 214,270 shares of the company’s stock valued at $5,871,000 after acquiring an additional 65,014 shares during the period. Finally, Sei Investments Co. increased its stake in shares of A-Mark Precious Metals by 11.9% in the 4th quarter. Sei Investments Co. now owns 150,892 shares of the company’s stock worth $4,134,000 after purchasing an additional 15,988 shares in the last quarter. Institutional investors own 75.25% of the company’s stock.

A-Mark Precious Metals Trading Down 13.3 %

The company has a market capitalization of $476.72 million, a P/E ratio of 10.10 and a beta of 0.32. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.31 and a current ratio of 1.58. The stock has a fifty day moving average of $25.16 and a 200 day moving average of $28.02.

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.