Zacks Research Upgrades Gold.com (NYSE:GOLD) to Strong-Buy

Gold.com (NYSE:GOLD) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

GOLD has been the topic of several other research reports. Northland Securities raised shares of Gold.com from a “market perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a research note on Friday, February 6th. Roth Mkm set a $52.00 target price on shares of Gold.com in a research note on Thursday, May 7th. Weiss Ratings raised shares of Gold.com from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 20th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $60.00 target price on shares of Gold.com in a research note on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $56.33.

Gold.com Stock Up 1.3%

Shares of NYSE:GOLD opened at $40.10 on Monday. Gold.com has a 12 month low of $20.13 and a 12 month high of $66.70. The stock’s 50-day moving average is $43.24. The company has a current ratio of 1.18, a quick ratio of 0.29 and a debt-to-equity ratio of 0.11. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 13.73 and a beta of 0.53.

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

Gold.com announced that its Board of Directors has authorized a share repurchase plan on Wednesday, April 8th that permits the company to repurchase 2,000,000,000,000 outstanding shares. This repurchase authorization permits the company to purchase up to 7.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, major shareholder William A. Richardson sold 20,000 shares of the stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $40.00, for a total value of $800,000.00. Following the sale, the insider directly owned 277,400 shares in the company, valued at $11,096,000. This trade represents a 6.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jeffrey D. Benjamin sold 24,683 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $50.17, for a total transaction of $1,238,346.11. Following the completion of the sale, the director owned 502,506 shares in the company, valued at $25,210,726.02. This represents a 4.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have acquired 730,338 shares of company stock valued at $31,842,096 and have sold 117,618 shares valued at $5,117,189. Company insiders own 23.10% of the company’s stock.

Institutional Trading of Gold.com

A number of hedge funds have recently modified their holdings of the company. Swiss National Bank raised its position in shares of Gold.com by 1.4% in the 1st quarter. Swiss National Bank now owns 36,500 shares of the company’s stock valued at $1,463,000 after acquiring an additional 500 shares during the period. CWM LLC bought a new stake in shares of Gold.com in the fourth quarter worth about $35,000. Larson Financial Group LLC bought a new stake in shares of Gold.com in the fourth quarter worth about $41,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Gold.com in the fourth quarter worth about $42,000. Finally, State of Alaska Department of Revenue bought a new stake in shares of Gold.com in the fourth quarter worth about $44,000. 62.85% of the stock is currently owned by institutional investors and hedge funds.

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.