Metals

A-Mark Precious Metals, Inc. (NASDAQ:AMRK) Short Interest Down 23.8% in August

A-Mark Precious Metals, Inc. (NASDAQ:AMRKGet Rating) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 450,800 shares, a decrease of 23.8% from the August 15th total of 591,800 shares. Based on an average daily volume of 208,400 shares, the days-to-cover ratio is currently 2.2 days.

Hedge Funds Weigh In On A-Mark Precious Metals

Several hedge funds have recently added to or reduced their stakes in AMRK. Philadelphia Financial Management of San Francisco LLC increased its stake in A-Mark Precious Metals by 171.0% in the second quarter. Philadelphia Financial Management of San Francisco LLC now owns 749,303 shares of the company’s stock valued at $24,165,000 after purchasing an additional 472,807 shares during the last quarter. Jacobs Asset Management LLC increased its stake in A-Mark Precious Metals by 111.8% in the second quarter. Jacobs Asset Management LLC now owns 540,000 shares of the company’s stock valued at $17,415,000 after purchasing an additional 285,000 shares during the last quarter. Wellington Management Group LLP purchased a new position in A-Mark Precious Metals in the first quarter valued at approximately $19,975,000. State Street Corp increased its stake in A-Mark Precious Metals by 115.0% in the second quarter. State Street Corp now owns 358,999 shares of the company’s stock valued at $11,578,000 after purchasing an additional 192,046 shares during the last quarter. Finally, CWA Asset Management Group LLC increased its stake in A-Mark Precious Metals by 99.9% in the second quarter. CWA Asset Management Group LLC now owns 379,043 shares of the company’s stock valued at $12,224,000 after purchasing an additional 189,438 shares during the last quarter. 59.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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Several analysts have recently issued reports on the stock. Northland Securities increased their price target on shares of A-Mark Precious Metals from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 25th. DA Davidson raised their target price on shares of A-Mark Precious Metals to $52.00 in a report on Tuesday, September 6th.

A-Mark Precious Metals Stock Down 4.3 %

Shares of NASDAQ:AMRK opened at $26.74 on Friday. The stock has a market cap of $625.26 million, a price-to-earnings ratio of 4.92 and a beta of -0.31. A-Mark Precious Metals has a fifty-two week low of $25.81 and a fifty-two week high of $44.60. The company has a quick ratio of 0.53, a current ratio of 1.41 and a debt-to-equity ratio of 0.19. The firm’s 50 day moving average price is $31.39 and its 200 day moving average price is $34.45.

A-Mark Precious Metals Announces Dividend

The business also recently declared a dividend, which will be paid on Monday, September 26th. Shareholders of record on Monday, September 12th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, September 9th. This represents a yield of 3.57%.

A-Mark Precious Metals Company Profile

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A-Mark Precious Metals, Inc, together with its subsidiaries, operates as a precious metals trading company. It operates in 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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