A-Mark Precious Metals price target lowered to $40 from $50 at Northland

Northland analyst Greg Gibas lowered the firm’s price target on A-Mark Precious Metals to $40 from $50 and keeps an Outperform rating on the shares following fiscal Q1 results that missed expectations due to a considerably softer demand environment for precious metals. Though fiscal Q2 may see some improvement based on the increasing geo-political uncertainty, the firm is lowering its estimates for the remainder of FY24 to reflect the tougher environment.