AMRK - Why A-Mark Precious Metals Stock Is Sinking Today
Shares of A-Mark Precious Metals (NASDAQ: AMRK) tumbled more than 13% by 12:15 p.m. ET on Tuesday. Weighing on the precious metals stock was its fiscal second-quarter results.
A-Mark Precious Metals reported $1.95 billion of revenue for its fiscal second quarter, which was in line with the analysts' consensus estimate. Revenue was 0.2% above the year-ago tally and 3% higher than the sequential quarter.
However, the company's earnings per share came in at $1.35, which missed analysts' expectations by $0.05 per share. While that was up 4% from the year-ago period, it was 16% below the prior quarter.
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Why A-Mark Precious Metals Stock Is Sinking Today