Gold.com (NYSE:GOLD) to Buyback 2,000,000,000,000 Outstanding Stock

Gold.com (NYSE:GOLD) declared that its Board of Directors has initiated a share buyback plan on Wednesday, April 8th, RTT News reports. The company plans to buyback 2,000,000,000,000 shares. This buyback authorization permits the company to reacquire up to 7.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GOLD shares. Weiss Ratings started coverage on shares of Gold.com in a report on Wednesday, January 14th. They set a “hold (c-)” rating for the company. Zacks Research upgraded shares of Gold.com from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. Northland Securities upgraded shares of Gold.com from a “market perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a report on Friday, February 6th. Roth Mkm set a $60.00 price target on shares of Gold.com in a research note on Wednesday, January 28th. Finally, DA Davidson lifted their price target on shares of Gold.com from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $59.00.

Gold.com Stock Up 5.3%

Shares of GOLD stock traded up $2.31 during trading on Wednesday, reaching $45.78. The company’s stock had a trading volume of 875,892 shares, compared to its average volume of 629,997. The firm’s fifty day moving average is $50.99. The company has a current ratio of 1.21, a quick ratio of 0.66 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $1.16 billion, a P/E ratio of 97.41 and a beta of 0.50. Gold.com has a one year low of $19.39 and a one year high of $66.70.

Gold.com (NYSE:GOLD) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.21. The business had revenue of $6.48 billion for the quarter, compared to analyst estimates of $3.41 billion. Gold.com had a net margin of 0.08% and a return on equity of 7.56%.

Gold.com Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Friday, February 20th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, February 20th. Gold.com’s dividend payout ratio is 170.21%.

Insiders Place Their Bets

In other Gold.com news, EVP Carol Meltzer sold 2,000 shares of the company’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $56.38, for a total transaction of $112,760.00. Following the sale, the executive vice president directly owned 23,500 shares of the company’s stock, valued at approximately $1,324,930. This represents a 7.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey D. Benjamin sold 24,683 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $50.17, for a total transaction of $1,238,346.11. Following the sale, the director directly owned 502,506 shares in the company, valued at $25,210,726.02. This trade represents a 4.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 504,239 shares of company stock valued at $29,856,403. 0.63% of the stock is currently owned by corporate insiders.

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.