Fintel reports that on September 1, 2023, DA Davidson maintained coverage of A-Mark Precious Metals (NASDAQ:AMRK) with a Buy recommendation.
Analyst Price Forecast Suggests 58.44% Upside
As of August 31, 2023, the average one-year price target for A-Mark Precious Metals is 54.06. The forecasts range from a low of 45.45 to a high of $59.85. The average price target represents an increase of 58.44% from its latest reported closing price of 34.12.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for A-Mark Precious Metals is 9,470MM, an increase of 14.69%. The projected annual non-GAAP EPS is 5.23.
A-Mark Precious Metals Declares $0.20 Dividend
On July 6, 2023 the company declared a regular quarterly dividend of $0.20 per share ($0.80 annualized). Shareholders of record as of July 17, 2023 received the payment on July 28, 2023. Previously, the company paid $0.20 per share.
At the current share price of $34.12 / share, the stock's dividend yield is 2.34%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.48%, the lowest has been 0.93%, and the highest has been 4.42%. The standard deviation of yields is 0.71 (n=106).
The current dividend yield is 0.19 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.12. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
What is the Fund Sentiment?
There are 340 funds or institutions reporting positions in A-Mark Precious Metals. This is an increase of 4 owner(s) or 1.19% in the last quarter. Average portfolio weight of all funds dedicated to AMRK is 0.19%, a decrease of 9.21%. Total shares owned by institutions decreased in the last three months by 2.70% to 14,424K shares. 
The put/call ratio of AMRK is 1.04, indicating a bearish outlook.
What are Other Shareholders Doing?
American Century Companies holds 1,534K shares representing 6.60% ownership of the company. In it's prior filing, the firm reported owning 1,683K shares, representing a decrease of 9.71%. The firm decreased its portfolio allocation in AMRK by 5.76% over the last quarter.
ASVIX - Small Cap Value Fund Investor Class holds 1,215K shares representing 5.22% ownership of the company. In it's prior filing, the firm reported owning 1,345K shares, representing a decrease of 10.70%. The firm decreased its portfolio allocation in AMRK by 3.07% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 600K shares representing 2.58% ownership of the company. No change in the last quarter.
Goldman Sachs Group holds 542K shares representing 2.33% ownership of the company. In it's prior filing, the firm reported owning 384K shares, representing an increase of 29.13%. The firm increased its portfolio allocation in AMRK by 395.49% over the last quarter.
CWA Asset Management Group holds 449K shares representing 1.93% ownership of the company. In it's prior filing, the firm reported owning 443K shares, representing an increase of 1.29%. The firm increased its portfolio allocation in AMRK by 1.28% over the last quarter.
A-Mark Precious Metals Background Information
(This description is provided by the company.)
Founded in 1965, A-Mark Precious Metals, Inc. (NASDAQ: AMRK) is a leading full-service precious metals trading company and wholesaler of gold, silver, platinum and palladium bullion and related products. The company’s global customer base includes sovereign and private mints, manufacturers and fabricators, refiners, dealers, financial institutions, industrial users, investors, collectors, and e-commerce and other retail customers. The company conducts its operations through three complementary segments: Wholesale Trading & Ancillary Services, Secured Lending, and Direct Sales. A-Mark operates several business units in its Wholesale Trading & Ancillary Services segment, including Industrial, Coin and Bar, Trading and Finance, Storage, Logistics, and the Mint (as more fully described below). Its Industrial unit services manufacturers and fabricators of products utilizing precious metals, while its Coin and Bar unit deals in over 200 different products for distribution to dealers and other qualified purchasers. As a U.S. Mint-authorized purchaser of gold, silver and platinum coins, A-Mark purchases bullion products directly from the U.S. Mint for sale to customers. A-Mark also has distributorships with other sovereign mints, including Australia, Austria, Canada, China, Mexico, South Africa and the United Kingdom. Through its Transcontinental Depository Services subsidiary, A-Mark provides customers with a variety of managed storage options for precious metals worldwide. Through its A-M Global Logistics subsidiary, A-Mark provides customers an array of complementary services, including receiving, handling, inventorying, processing, packaging and shipping of precious metals and custom coins on a secure basis. A-Mark also holds a majority stake in a joint venture that owns the minting operations known as SilverTowne Mint (Mint), which designs and produces minted silver products which provide greater product selection to customers, price stability within the supply chain as well as more secured access to silver during volatile market environments. The company operates its Secured Lending segment through its wholly-owned subsidiaries, Collateral Finance Corporation (CFC) and AM Capital Funding, LLC (AMCF). Founded in 2005, CFC is a licensed finance lender that originates and acquires loans secured by bullion and numismatic coins. Its customers include coin and precious metal dealers, investors, and collectors. AMCF was formed in 2018 for the purpose of securitizing eligible secured loans of CFC. A-Mark operates its Direct Sales segment primarily through its wholly-owned subsidiary Goldline Inc. (Goldline), a direct retailer of precious metals for the investor community. Goldline markets A-Mark’s precious metal products through various channels, including radio, television, and the Internet. A-Mark is headquartered in El Segundo, California, with offices and facilities in Los Angeles, California, Vienna, Austria, Las Vegas, Nevada, and Winchester, Indiana.
Additional reading:
- A-MARK PRECIOUS METALS, INC. CONSULTING AGREEMENT Executed June 5, 2023
- Form of Indemnification Agreement.
- Waiver and Fifth Amendment to Credit Agreement.
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