StockNews.com upgraded shares of A-Mark Precious Metals (NASDAQ:AMRK – Free Report) from a sell rating to a hold rating in a report issued on Friday morning.
Several other research firms have also recently weighed in on AMRK. Northland Securities cut A-Mark Precious Metals from an outperform rating to a market perform rating in a research report on Wednesday, May 8th. B. Riley lowered shares of A-Mark Precious Metals from a buy rating to a neutral rating and set a $33.00 target price on the stock. in a research report on Wednesday, May 15th. Northland Capmk lowered shares of A-Mark Precious Metals from a strong-buy rating to a hold rating in a research report on Wednesday, May 8th. Finally, Maxim Group assumed coverage on shares of A-Mark Precious Metals in a research report on Wednesday, May 22nd. They set a buy rating and a $63.00 price objective for the company. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, A-Mark Precious Metals currently has a consensus rating of Hold and an average target price of $46.67.
View Our Latest Stock Report on A-Mark Precious Metals
A-Mark Precious Metals Stock Performance
A-Mark Precious Metals Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Thursday, July 18th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date was Thursday, July 18th. A-Mark Precious Metals’s dividend payout ratio is 24.54%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC raised its stake in A-Mark Precious Metals by 2.1% during the second quarter. SummerHaven Investment Management LLC now owns 18,958 shares of the company’s stock worth $614,000 after acquiring an additional 391 shares in the last quarter. Quarry LP grew its holdings in shares of A-Mark Precious Metals by 94.1% in the 2nd quarter. Quarry LP now owns 1,112 shares of the company’s stock worth $36,000 after purchasing an additional 539 shares during the last quarter. Riverwater Partners LLC increased its position in shares of A-Mark Precious Metals by 10.6% during the 2nd quarter. Riverwater Partners LLC now owns 9,229 shares of the company’s stock worth $299,000 after purchasing an additional 881 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in A-Mark Precious Metals by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 36,396 shares of the company’s stock valued at $1,178,000 after purchasing an additional 1,222 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in A-Mark Precious Metals during the second quarter worth about $45,000. Institutional investors own 75.25% of the company’s stock.
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.
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