Welcome to our dedicated page for A-Mark Precious Metals news (Ticker: AMRK), a resource for investors and traders seeking the latest updates and insights on A-Mark Precious Metals stock.
A-Mark Precious Metals, Inc. (NASDAQ: AMRK) is a leading fully integrated precious metals platform located in El Segundo, California. Founded in 1965, the company is primarily involved in the wholesale trading of gold, silver, platinum, and palladium bullion and related products including bars, wafers, coins, and grains.
A-Mark operates through three main segments:
- Wholesale Sales & Ancillary Services: This segment includes the distribution and purchase of precious metals from sovereign and private mints. A-Mark is an authorized purchaser of gold, silver, and platinum coins directly from the U.S. Mint since 1986. The company also has longstanding relationships with other sovereign mints including Australia, Austria, Canada, China, Mexico, South Africa, and the United Kingdom. It offers over 200 products to e-commerce retailers, coin and bullion dealers, financial institutions, brokerages, and collectors. In addition, A-Mark provides industrial users with precious metal products through its Industrial, Coin and Bar, Trading and Finance, Storage, Logistics, and Mint business units.
- Direct-to-Consumer: This segment operates as an omni-channel retailer of precious metals via its subsidiaries JM Bullion and Goldline. JM Bullion is a top e-commerce retailer, operating several branded websites such as JMBullion.com, ProvidentMetals.com, Silver.com, Gold.com, GoldPrice.org, SilverPrice.org, BGASC.com, and BullionMax.com. The subsidiary also owns CyberMetals.com, a platform for purchasing and selling fractional shares of digital precious metals. Goldline markets directly to investors through television, radio, and phone sales, and A-Mark holds minority stakes in four other direct-to-consumer brands.
- Secured Lending: Through Collateral Finance Corporation (CFC), a California-licensed finance lender, A-Mark offers loans secured by bullion and numismatic coins to dealers, investors, and collectors. CFC was founded in 2005 and has since grown to provide specialized finance options.
A-Mark’s recent activities underscore its robust growth strategy. The company has expanded its reach in Asia through the acquisition of LPM Group Limited, one of Asia’s largest precious metals dealers. This move aims to enhance A-Mark's global presence and leverage LPM's strong market position in the region.
Additionally, JM Bullion recently acquired the gold.com domain, adding a significant digital asset to their portfolio. This acquisition is expected to bolster their direct-to-consumer strategy by utilizing a highly recognizable domain.
From a financial perspective, despite facing challenges such as softened demand and premium compression, A-Mark continues to deliver solid results. For the fiscal third quarter ended March 31, 2024, the company reported revenues of $2.611 billion, a 13% increase compared to the previous year. However, net income attributable to the company decreased significantly due to various market factors and strategic investments.
A-Mark also maintains a regular quarterly cash dividend policy, reaffirming a dividend of $0.20 per share, showcasing their commitment to shareholder value.
In conclusion, A-Mark Precious Metals, Inc. remains a pivotal player in the precious metals industry, continually expanding its operations and market influence through strategic acquisitions, diversified product offerings, and a strong financial foundation. For more information, visit their corporate website at www.amark.com.
A-Mark Precious Metals (NASDAQ: AMRK) announced a conference call scheduled for May 9, 2023, at 4:30 p.m. EDT to discuss its financial results for the fiscal third quarter ended March 31, 2023. A press release with the results will be issued before the call. Participants can join via the U.S. dial-in number 1-888-506-0062 or the international number 1-973-528-0011. The call will also be accessible through a live webcast and available for replay on A-Mark's investor relations website. Founded in 1965, A-Mark is a leading integrated platform offering a range of precious metals products, operating through three segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending. The company serves a global customer base, including mints, manufacturers, and investors.
A-Mark Precious Metals (NASDAQ: AMRK) has announced a quarterly cash dividend of $0.20 per share, consistent with its existing dividend program. The dividend will be payable on April 28, 2023 to stockholders recorded by April 17, 2023. Founded in 1965, A-Mark operates a fully integrated precious metals platform that serves global wholesale and retail markets through segments including Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending. The company is recognized as a U.S. Mint-authorized purchaser and has longstanding partnerships with various international mints, supplying a wide range of precious metal products.
On February 27, 2023, A-Mark Precious Metals (NASDAQ: AMRK) announced its participation in two upcoming conferences: the 35th Annual Roth Conference from March 12-14, 2023, and the D.A. Davidson’s 6th Annual Consumer Growth Conference on March 21, 2023. Held in California and New York City, respectively, these events will provide an opportunity for investors and analysts to engage with the company through presentations and meetings. A-Mark, founded in 1965, is a fully integrated precious metals platform offering a range of bullion, coins, and related products across multiple segments.
A-Mark Precious Metals reported a Q2 FY 2023 diluted earnings per share of $1.35, up from $1.30 in Q2 FY 2022. The company experienced a 230% year-over-year increase in new Direct-to-Consumer (DTC) customers, with DTC gross margin percentage improving by 130 basis points. Despite a 3% decrease in gross profit to $64 million, revenues rose slightly by 0.2% to $1.95 billion. Silver ounces sold increased by 19% to 38.1 million, while gold ounces sold dropped by 10%. The company also reaffirmed a quarterly cash dividend of $0.20 per share.
A-Mark Precious Metals (NASDAQ: AMRK) has announced a strategic move, acquiring a 25% ownership stake in Atkinsons Bullions & Coins, a UK-based online retailer of precious metals, for $2.75 million. Atkinsons reported revenues exceeding $130 million in 2022. This investment marks A-Mark's first foray into the UK market and aligns with its goal of expanding its Direct-to-Consumer market presence. The transaction, anticipated to finalize in March 2023, includes an additional 24.5% ownership option after 24 months. This partnership is aimed at leveraging Atkinsons' established market position to enhance A-Mark's international footprint.
A-Mark Precious Metals (NASDAQ: AMRK) announced a branding and marketing agreement with Certified Collectibles Group (CCG) through its subsidiary, Collateral Finance Corporation (CFC). Under this partnership, CFC will serve as an "Approved Financing Service" for CCG, which specializes in certification for coins, sports cards, and memorabilia. CFC has a history of providing secured loans with no principal losses, extending liquidity solutions to CCG’s customers. This initiative aims to enhance brand awareness and promote co-marketing efforts, potentially increasing customer access to financing options.
A-Mark Precious Metals, Inc. (NASDAQ: AMRK) announces a conference call on February 6, 2023, at 4:30 p.m. ET to discuss its fiscal second quarter results ending December 31, 2022. Financial results will be released before the call. Interested participants can join via a U.S. dial-in number or an international number, and a live webcast will also be available. A replay will be accessible until February 20, 2023. Founded in 1965, A-Mark operates as a fully integrated precious metals platform, providing a wide range of products including gold, silver, platinum, and copper through various sales channels.
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