A-Mark Precious Metals Slips 13% As Q4 Revenue Missed View

Posted on

Shares of A-Mark Precious Metals, Inc. (AMRK) are down more than 13% Wednesday morning after the precious metals trading company’s fourth-quarter revenue missed analysts’ view.

The company had revenues of $2.089 billion for the fourth quarter, down from $2.179 billion in the same quarter a year ago, primarily on lower gold sales. On average, analysts polled by Thomson-Reuters expected revenue $2.16 billion.

The company’s net income in the quarter declined to $37.34 million or $1.52 per share from $51.01 million or $2.14 per share last year. Analysts were expecting earnings of $1.27 per share.

AMRK, currently at $30.42, has traded in the range of $24.02-$44.60 in the last 1 year.

Source: Read Full Article