A-Mark Precious Metals price target lowered to $43 from $52 at DA Davidson

DA Davidson lowered the firm’s price target on A-Mark Precious Metals (AMRK) to $43 from $52 and keeps a Buy rating on the shares after its Q1 results. The company’s higher gold and silver prices during the quarter did lead to slower demand, which hurt ounces sold, but the higher average selling prices also drove revenue growth of 9.3% or 0.9% excluding forward contracts, to $2.7B, which beat consensus, the analyst tells investors in a research note.