B. Riley downgraded A-Mark Precious Metals to Neutral from Buy with an unchanged price target of $33. The company’s market conditions have been weaker than anticipated over the last two quarters, with results below consensus estimates, the analyst tells investors in a research note. However, the firm says A-Mark shares have bucked the challenging market environment, with the equity is still trading near the top end of its two-year trading range. It cites softer demand the stock’s performance for the downgrade.
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