A-Mark Precious Metals price target lowered to $35 from $43 at DA Davidson

DA Davidson lowered the firm’s price target on A-Mark Precious Metals (AMRK) to $35 from $43 but keeps a Buy rating on the shares. The company’s sales handily beat the firm’s estimate, but the continued upward trends in gold and silver pricing meant lower volatility, lower spreads, and lower profits, the analyst tells investors in a research note. The firm adds however that gold and silver ounces sold were higher sequentially, with gold ounces sold inflecting to positive territory for the first time in 5 quarters.