A-Mark Precious Metals price target lowered to $29 from $35 at DA Davidson

DA Davidson lowered the firm’s price target on A-Mark Precious Metals (AMRK) to $29 from $35 and keeps a Buy rating on the shares. The company’s Q3 sales topped estimates thanks to higher gold and silver pricing, but lower market liquidity, backwardation in metals, higher interest expense and some non-recurring expenses hurt profitability, the analyst tells investors in a research note.