A-Mark Precious Metals (NASDAQ:AMRK) Reaches New 52-Week Low Following Analyst Downgrade

A-Mark Precious Metals, Inc. (NASDAQ:AMRK) hit a new 52-week low during mid-day trading on Wednesday after B. Riley lowered their price target on the stock from $37.00 to $34.00. B. Riley currently has a neutral rating on the stock. A-Mark Precious Metals traded as low as $23.48 and last traded at $24.36, with a volume of 171680 shares traded. The stock had previously closed at $24.09.

A number of other equities analysts have also recently issued reports on AMRK. Northland Securities dropped their price objective on A-Mark Precious Metals from $40.00 to $36.00 and set a “market perform” rating for the company in a report on Friday, February 7th. DA Davidson reissued a “buy” rating and set a $35.00 target price on shares of A-Mark Precious Metals in a research note on Tuesday, March 11th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, A-Mark Precious Metals has a consensus rating of “Hold” and an average target price of $42.00.

Institutional Investors Weigh In On A-Mark Precious Metals

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of A-Mark Precious Metals by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 437,464 shares of the company’s stock valued at $11,989,000 after buying an additional 5,672 shares during the period. CWA Asset Management Group LLC increased its position in A-Mark Precious Metals by 38.6% during the 4th quarter. CWA Asset Management Group LLC now owns 368,393 shares of the company’s stock valued at $10,094,000 after purchasing an additional 102,524 shares during the period. Jacobs Asset Management LLC raised its holdings in shares of A-Mark Precious Metals by 12.7% in the 4th quarter. Jacobs Asset Management LLC now owns 310,000 shares of the company’s stock valued at $8,494,000 after purchasing an additional 35,000 shares in the last quarter. Wedbush Securities Inc. lifted its position in shares of A-Mark Precious Metals by 3.8% in the 4th quarter. Wedbush Securities Inc. now owns 275,864 shares of the company’s stock worth $7,559,000 after purchasing an additional 10,121 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in shares of A-Mark Precious Metals by 1.3% during the fourth quarter. Nuveen Asset Management LLC now owns 250,997 shares of the company’s stock valued at $6,877,000 after purchasing an additional 3,178 shares in the last quarter. 75.25% of the stock is currently owned by hedge funds and other institutional investors.

A-Mark Precious Metals Trading Up 1.1 %

The company has a market capitalization of $560.74 million, a PE ratio of 11.88 and a beta of 0.41. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.58 and a quick ratio of 0.31. The company’s fifty day moving average is $25.57 and its 200-day moving average is $28.80.

A-Mark Precious Metals (NASDAQ:AMRK) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.10). A-Mark Precious Metals had a net margin of 0.46% and a return on equity of 9.29%. On average, analysts anticipate that A-Mark Precious Metals, Inc. will post 2.11 EPS for the current fiscal year.

A-Mark Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 15th were issued a $0.20 dividend. The ex-dividend date was Tuesday, April 15th. This represents a $0.80 dividend on an annualized basis and a yield of 3.28%. A-Mark Precious Metals’s dividend payout ratio is presently 39.02%.

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.