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October 16, 2024
PI Global Investments
Precious Metals

A-Mark Precious Metals (NASDAQ:AMRK) Shares Gap Down to $27.11


A-Mark Precious Metals, Inc. (NASDAQ:AMRKGet Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $27.11, but opened at $26.00. A-Mark Precious Metals shares last traded at $26.14, with a volume of 133,477 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of A-Mark Precious Metals from a “hold” rating to a “sell” rating in a research note on Friday, November 10th.

Read Our Latest Stock Report on A-Mark Precious Metals

A-Mark Precious Metals Trading Down 4.5 %

The company has a quick ratio of 0.42, a current ratio of 1.84 and a debt-to-equity ratio of 0.46. The firm’s 50 day simple moving average is $28.99 and its two-hundred day simple moving average is $30.96. The stock has a market cap of $600.91 million, a P/E ratio of 4.87 and a beta of 0.01.

A-Mark Precious Metals (NASDAQ:AMRKGet Free Report) last released its earnings results on Tuesday, November 7th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.79). A-Mark Precious Metals had a net margin of 1.31% and a return on equity of 31.77%. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $1.98 billion. As a group, equities research analysts predict that A-Mark Precious Metals, Inc. will post 6.39 earnings per share for the current fiscal year.

A-Mark Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 29th. Stockholders of record on Tuesday, January 16th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Friday, January 12th. A-Mark Precious Metals’s dividend payout ratio (DPR) is 15.12%.

Hedge Funds Weigh In On A-Mark Precious Metals

Several hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of A-Mark Precious Metals by 17.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 452,251 shares of the company’s stock valued at $13,681,000 after acquiring an additional 67,452 shares during the period. Semanteon Capital Management LP acquired a new position in shares of A-Mark Precious Metals during the fourth quarter valued at $563,000. Yacktman Asset Management LP boosted its holdings in shares of A-Mark Precious Metals by 21.6% during the fourth quarter. Yacktman Asset Management LP now owns 45,000 shares of the company’s stock valued at $1,361,000 after acquiring an additional 8,000 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of A-Mark Precious Metals by 49.2% during the fourth quarter. New York State Common Retirement Fund now owns 10,368 shares of the company’s stock valued at $314,000 after acquiring an additional 3,417 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in A-Mark Precious Metals by 52.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 149,577 shares of the company’s stock worth $4,525,000 after purchasing an additional 51,358 shares during the period. Institutional investors and hedge funds own 54.84% of the company’s stock.

About A-Mark Precious Metals

(Get Free Report)

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.

Further Reading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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