Gold.com (NYSE:GOLD) Downgraded by Zacks Research to Hold

Zacks Research downgraded shares of Gold.com (NYSE:GOLD) from a strong-buy rating to a hold rating in a research report report published on Wednesday,Zacks.com reports.

Other research analysts have also issued research reports about the company. DA Davidson reiterated a “buy” rating and issued a $60.00 price target on shares of Gold.com in a report on Tuesday, April 28th. Weiss Ratings upgraded Gold.com from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 20th. Canaccord Genuity Group began coverage on Gold.com in a research report on Tuesday, June 9th. They set a “buy” rating and a $70.00 target price on the stock. Finally, Roth Mkm set a $52.00 target price on Gold.com in a research report on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Gold.com presently has a consensus rating of “Moderate Buy” and an average target price of $59.75.

Gold.com Trading Up 3.1%

GOLD opened at $43.86 on Wednesday. The firm has a fifty day moving average of $42.58. Gold.com has a 1-year low of $20.55 and a 1-year high of $66.70. The company has a market capitalization of $1.27 billion, a P/E ratio of 15.02 and a beta of 0.55. The company has a current ratio of 1.18, a quick ratio of 0.29 and a debt-to-equity ratio of 0.11.

Gold.com (NYSE:GOLD) last released its quarterly earnings data on Wednesday, May 6th. The company reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $1.62. The company had revenue of $10.35 billion for the quarter, compared to analysts’ expectations of $4.81 billion. Gold.com had a net margin of 0.35% and a return on equity of 17.82%. On average, research analysts forecast that Gold.com will post 5.31 EPS for the current fiscal year.

Gold.com Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Wednesday, May 20th were paid a dividend of $0.20 per share. The ex-dividend date was Wednesday, May 20th. This represents a $0.80 annualized dividend and a yield of 1.8%. Gold.com’s dividend payout ratio (DPR) is 27.40%.

Gold.com declared that its board has initiated a share buyback program on Wednesday, April 8th that permits the company to buyback 2,000,000,000,000 outstanding shares. This buyback authorization permits the company to repurchase up to 7.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Gold.com

In related news, CEO Gregory N. Roberts sold 40,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $41.58, for a total transaction of $1,663,200.00. Following the transaction, the chief executive officer directly owned 28,202 shares in the company, valued at approximately $1,172,639.16. The trade was a 58.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Tether Global Investments Fund bought 530,338 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were purchased at an average cost of $44.50 per share, for a total transaction of $23,600,041.00. Following the transaction, the insider owned 3,370,787 shares in the company, valued at approximately $150,000,021.50. This represents a 18.67% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 730,338 shares of company stock worth $31,842,096 over the last three months. 0.63% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Swiss National Bank lifted its stake in Gold.com by 1.4% in the first quarter. Swiss National Bank now owns 36,500 shares of the company’s stock valued at $1,463,000 after purchasing an additional 500 shares during the last quarter. CWM LLC bought a new position in Gold.com in the 4th quarter worth about $35,000. Larson Financial Group LLC purchased a new position in Gold.com during the fourth quarter valued at approximately $41,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Gold.com during the 4th quarter valued at $42,000. Finally, State of Alaska Department of Revenue purchased a new position in Gold.com during the fourth quarter worth about $44,000. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Gold.com Company Profile

A-Mark Precious Metals, Inc, together with its subsidiaries, operates as a precious metals trading company. It operates in three segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending. The Wholesale Sales & Ancillary Services segment sells gold, silver, platinum, and palladium in the form of bars, plates, powders, wafers, grains, ingots, and coins. This segment also offers various ancillary services, including financing, storage, consignment, logistics, and various customized financial programs; and designs and produces minted silver products.