D.A. Davidson analyst Tom Forte reiterated a Buy rating on A-Mark Precious Metals (AMRK – Research Report) today and set a price target of $57.00. The company’s shares closed yesterday at $34.69.
According to TipRanks, Forte is a 5-star analyst with an average return of 14.3% and a 51.83% success rate. Forte covers the Technology sector, focusing on stocks such as Roku, Apple, and Pinterest.
Currently, the analyst consensus on A-Mark Precious Metals is a Moderate Buy with an average price target of $56.50.
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Based on A-Mark Precious Metals’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.32 billion and a net profit of $36 million. In comparison, last year the company earned a revenue of $2.11 billion and had a net profit of $37.37 million
Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AMRK in relation to earlier this year. Most recently, in June 2023, Carol Meltzer, the EVP, GC & Sec of AMRK sold 1,000.00 shares for a total of $37,735.00.
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A-Mark Precious Metals, Inc. engages in the trading of precious metals. It operates through the following segments: Wholesale Trading and Ancillary Services; Secured Lending; and Direct Sales. The Wholesale Trading and Ancillary Services segment offers gold, silver, platinum, and palladium in the form of bars, plates, powder, wafers, grain, ingots, and coins. The Secured Lending segment serves coin and precious metal dealers, investors, and collectors. The Direct Sales segment sells precious metals to the investor community. The company was founded by Steven C. Markoff on April 9, 1965 and is headquartered in El Segundo, CA.
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