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On Tuesday, DA Davidson reiterated its Buy rating and $43.00 price target on A-Mark Precious Metals (NASDAQ:AMRK), ahead of the company’s financial results release later this week. According to InvestingPro data, analyst targets for AMRK range from $37 to $63, with the stock currently trading near $28, suggesting significant potential upside. The company’s overall Financial Health Score stands at "FAIR" based on comprehensive analysis of multiple factors. Analysts at the firm held a discussion with A-Mark’s management team to inquire about various aspects of the business, including the year to date sales and EBITDA growth rates. They expressed a particular interest in understanding the outlook for 2025 for the company’s subsidiary, Spectrum Business Group (SBG), and how SBG’s integration could benefit from A-Mark’s financial and operational capabilities.
The analysts also explored potential synergies from the recent acquisition of SBG by A-Mark, noting that while SBG’s sales to A-Mark were relatively minor, they are now considered intercompany transactions, which could impact the accretive nature of the deal. InvestingPro analysis reveals that A-Mark maintains strong liquidity with a current ratio of 1.66, though it operates with a significant debt burden. Get access to 8 more exclusive ProTips and detailed financial metrics with InvestingPro’s comprehensive research reports. Despite maintaining the stock’s Buy rating and price target, DA Davidson anticipates a weaker second quarter for fiscal year 2025, based on their weekly analysis of spreads between retail and wholesale pricing in the gold and silver coin market.
They suggested that profitability might be challenged this quarter, leading to more downside potential relative to their EBITDA estimates of $33 million for Q2 2025. This figure contrasts with the consensus estimate of $25 million among other analysts. Recent InvestingPro data shows the company’s last twelve months EBITDA at $75.7 million, with a market capitalization of approximately $649 million. A-Mark Precious Metals is expected to address these financial queries and provide further details during their earnings call on Thursday.
In other recent news, A-Mark Precious Metals, Inc. reported its fiscal first quarter earnings of $0.37 per diluted share and nearly $18 million in non-GAAP EBITDA, despite facing a challenging macroeconomic environment marked by high precious metal prices and reduced demand. In a separate event, the company held its Annual Meeting of Stockholders, where all nominated directors were approved, as well as the fiscal year 2024 executive compensation. Grant Thornton LLP was also ratified as the independent auditor for fiscal 2025.
The company’s shareholder meeting saw approximately 69.9% of eligible votes turnout, with all nominees receiving between 93.71% and 99.70% of the votes in their favor. Notably, Beverley Lepine, Jess M. Ravich, and Monique Sanchez were appointed to chair the Audit, Compensation, and Nominating and Corporate Governance Committees, respectively.
Moreover, several officers were confirmed, including Jeffrey D. Benjamin as Chairman of the Board, Gregory N. Roberts as Chief Executive Officer, Thor Gjerdrum as President, Kathleen Simpson-Taylor as Chief Financial Officer, Executive Vice President and Assistant Secretary, Brian Aquilino as Chief Operating Officer, and Carol Meltzer as General Counsel, Executive Vice President and Secretary. These are among the recent developments that provide insight into the company’s operations and performance.
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