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 (AMRK) has acquired a 12% ownership stake in Texas Precious Metals (TPM) for $5.04 million. TPM, a prominent e-commerce retailer, has processed over $1.25 billion in transactions and reported nearly $170 million in revenue for 2021. This acquisition is supported by a four-year extension of the exclusive supplier agreement between A-Mark and TPM, aimed at enhancing their Direct-to-Consumer platform. With this partnership, A-Mark seeks to leverage TPM's strengths in e-commerce and minting capabilities to broaden its product offerings.
A-Mark Precious Metals, a leading integrated precious metals platform, has declared a quarterly cash dividend of $0.20 per share. This dividend, maintaining the current program, is payable on January 27, 2023, to stockholders of record as of January 16, 2023. Founded in 1965, A-Mark operates through three segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending, serving a diverse global customer base. The company continues to adapt to market demands amid fluctuating conditions in the precious metals sector.
A-Mark Precious Metals reported a strong Q1 FY 2023, with diluted earnings per share of $1.83, a 69% increase from $1.08 in Q1 FY 2022. Gross profit surged 37% to $76.6 million, pushing gross profit margin up to 4.03% of revenue. Net income increased 73% to $45.1 million. However, total revenues decreased 6% to $1.90 billion compared to the prior year, reflecting declines in gold sales. The company maintains its quarterly cash dividend of $0.20 per share.
A-Mark Precious Metals (NASDAQ: AMRK) announced the acquisition of BGASC, LLC for $4.5 million in cash. BGASC is a major online precious metals dealer with over 120,000 customers and reported revenues exceeding $200 million in 2021. The acquisition includes BGASC’s website, customer list, and intellectual property. A-Mark plans to operate BGASC as a standalone brand and integrate it into its Direct-to-Consumer (DTC) segment, anticipated to enhance market presence and revenue. The integration's impact is expected to be reflected in the second quarter of fiscal 2023.
A-Mark Precious Metals, Inc. (NASDAQ: AMRK) will host a conference call on November 8, 2022, at 4:30 p.m. Eastern time to discuss financial results for its first fiscal quarter ended September 30, 2022. The call will include a management presentation followed by a Q&A session. Interested parties can access the live call via webcast or dial-in at provided numbers. Additionally, a replay of the call will be available through November 22, 2022. A-Mark, founded in 1965, operates through three segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending.
A-Mark Precious Metals, Inc. (NASDAQ: AMRK) has settled with the Commodity Futures Trading Commission (CFTC) regarding an investigation into retail precious metal transactions by its subsidiary, Goldline, Inc., from April 2018 to June 2021. The settlement includes a fine of $450,000 and disgorgement of about $628,000. The company entered the agreement without admitting or denying CFTC's allegations. The resolution is expected to have no material financial impact on A-Mark's operations, allowing Goldline to refocus on growth in its Direct-to-Consumer segment.
A-Mark Precious Metals reported a strong FY 2022, with revenues exceeding $8.1 billion, a 7% increase from FY 2021. Adjusted net income rose to $195 million, up 8% year-over-year. Significant growth was noted in the Direct-to-Consumer segment, with active customers increasing by 272%. However, gold sales fell 3% to 2.67 million ounces, while silver sales surged by 16% to 132.2 million ounces. A special cash dividend of $1.00 per share was declared, and a new quarterly cash dividend policy of $0.20 was adopted. The company continues to focus on growth and profitability.
A-Mark Precious Metals (NASDAQ: AMRK) announced the acquisition of BGASC, LLC for $4.5 million in cash. BGASC, a significant player in the U.S. bullion market with over 70,000 customers and revenues exceeding $200 million in 2021, will operate as a standalone brand under A-Mark's subsidiary, JM Bullion. This acquisition aims to enhance A-Mark's direct-to-consumer portfolio and leverage BGASC's established online presence. The deal is expected to close in Q4 2022, pending customary closing conditions.
A-Mark Precious Metals (NASDAQ: AMRK) will attend the D.A. Davidson Big Sky Summit from August 21-23, 2022, in Big Sky, Montana, featuring a fireside chat and panel discussion on The Future of Tech and Retail. Additionally, A-Mark will host one-on-one meetings at the Denver Gold Forum’s 34th Annual Gold Forum Americas from September 18-21, 2022, in Colorado Springs, Colorado. A-Mark is a fully integrated precious metals platform, offering a range of products through its Wholesale Sales, Direct-to-Consumer, and Secured Lending segments.
A-Mark Precious Metals (NASDAQ: AMRK) has announced a conference call scheduled for August 30, 2022, at 4:30 PM ET to discuss its fiscal fourth-quarter and year results ending June 30, 2022. The call will be accessible via U.S. dial-in at 1-888-506-0062 and internationally at 1-973-528-0011. A replay will be available until September 13, 2022. Founded in 1965, A-Mark operates across three segments: Wholesale Sales, Direct-to-Consumer, and Secured Lending, catering to a diverse global customer base.
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