A-Mark Precious Metals (NASDAQ:AMRK) Posts Quarterly Earnings Results, Misses Estimates By $0.66 EPS

A-Mark Precious Metals (NASDAQ:AMRK) released its earnings results on Thursday. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.66), reports. The business had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $2.67 billion. A-Mark Precious Metals had a net margin of 0.06% and a return on equity of 6.27%.

A-Mark Precious Metals Stock Performance

Shares of NASDAQ:AMRK traded up $0.30 during trading on Friday, reaching $25.29. 565,191 shares of the company’s stock traded hands, compared to its average volume of 325,928. The stock has a market capitalization of $623.15 million, a P/E ratio of 90.32 and a beta of 0.34. A-Mark Precious Metals has a 12 month low of $19.39 and a 12 month high of $32.90. The company has a 50 day moving average of $26.34 and a 200-day moving average of $23.65. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.56 and a quick ratio of 0.42.

A-Mark Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Wednesday, November 19th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, November 19th. A-Mark Precious Metals’s dividend payout ratio is currently 115.94%.

Insider Buying and Selling

In other A-Mark Precious Metals news, Director Moorhead John sold 2,600 shares of A-Mark Precious Metals stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $26.97, for a total value of $70,122.00. Following the completion of the transaction, the director directly owned 32,974 shares in the company, valued at $889,308.78. The trade was a 7.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 23.10% of the stock is currently owned by insiders.

Institutional Trading of A-Mark Precious Metals

Several hedge funds have recently made changes to their positions in AMRK. AQR Capital Management LLC grew its stake in A-Mark Precious Metals by 213.9% during the 1st quarter. AQR Capital Management LLC now owns 93,297 shares of the company’s stock worth $2,367,000 after buying an additional 63,573 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of A-Mark Precious Metals by 4.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,531 shares of the company’s stock worth $267,000 after acquiring an additional 489 shares during the last quarter. Empowered Funds LLC grew its position in shares of A-Mark Precious Metals by 451.4% during the first quarter. Empowered Funds LLC now owns 97,264 shares of the company’s stock worth $2,468,000 after acquiring an additional 79,624 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of A-Mark Precious Metals by 10.9% in the 2nd quarter. Rhumbline Advisers now owns 30,966 shares of the company’s stock worth $687,000 after acquiring an additional 3,039 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in A-Mark Precious Metals by 16,463.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,619 shares of the company’s stock valued at $169,000 after purchasing an additional 7,573 shares during the last quarter. Institutional investors own 75.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AMRK. Zacks Research raised shares of A-Mark Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 11th. Roth Capital upgraded shares of A-Mark Precious Metals to a “strong-buy” rating in a research note on Wednesday, September 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of A-Mark Precious Metals in a research report on Tuesday, October 14th. Finally, DA Davidson reissued a “buy” rating and issued a $29.00 price objective on shares of A-Mark Precious Metals in a report on Wednesday, September 10th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.00.

A-Mark Precious Metals Company Profile

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.