Shares of A-Mark Precious Metals (NASDAQ:AMRK) experienced a sharp 6.07% decline during Thursday's trading session, following the release of disappointing third-quarter financial results. The precious metals trading firm reported a surprising loss and missed earnings estimates by a wide margin, despite posting higher-than-expected revenue.

A-Mark reported a quarterly loss of $0.36 per share, falling significantly short of the analyst consensus estimate of $0.59 profit per share. This represents a stark 271.43% decrease compared to earnings of $0.21 per share in the same period last year. The company's bottom line was hit hard, with a net loss of $8.5 million for the quarter. On an adjusted basis, A-Mark's net income of $5.7 million also fell significantly short of the $14.3 million estimated by analysts.

Despite the earnings disappointment, A-Mark's quarterly sales reached $3.01 billion, beating the analyst consensus estimate of $2.80 billion by 7.49%. This figure marks a 15.30% increase over sales of $2.61 billion in the same period last year. However, the company's gross profit stood at $41 million, with a gross margin of 1.36%, indicating pressure on profitability despite the revenue growth. The substantial earnings miss and unexpected loss appear to be the primary drivers behind the sharp stock decline, as investors express concern about A-Mark's ability to maintain profitability in the current market environment.