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, Inc. (NASDAQ: AMRK) has successfully acquired an additional 40% stake in Silver Gold Bull Inc. (SGB), a Canadian eCommerce platform for precious metals, valuing SGB at approximately $110 million. This acquisition increases A-Mark's ownership in SGB to 47.4% and grants an option to raise it to 75% in the future. The deal included $34 million in cash and shares of A-Mark stock. A-Mark is focused on expanding its international direct-to-consumer (DTC) presence, following a positive growth trajectory with SGB.
A-Mark Precious Metals, Inc. (NASDAQ: AMRK) has finalized its acquisition of an additional 40% equity interest in Silver Gold Bull Inc. (SGB), valued at approximately $110 million. The deal involved $34 million in cash and 253,928 shares of A-Mark stock, increasing A-Mark's ownership in SGB to 47.4%. This acquisition is coupled with a four-year extension on the supplier agreement until December 2026. A-Mark has the option to further increase its share to 75% in SGB within 18-27 months following the closing.
A-Mark Precious Metals reported a 3% increase in revenues to $2.11 billion for Q3 2022, driven by higher silver sales and average gold prices. Gross profit rose 6% to $72.1 million, with a gross margin of 3.42%. However, net income dropped to $37.4 million or $3.06 per diluted share, significantly lower than $76.6 million a year ago. Adjusted net income fell $9.9 million to $54.3 million. Notably, the company announced a two-for-one stock split effective June 7, 2022, aiming to enhance stock accessibility for investors.
A-Mark Precious Metals (NASDAQ: AMRK) announced a definitive agreement to acquire an additional 40% stake in Silver Gold Bull Inc. (SGB) for approximately $44 million, raising A-Mark's ownership to 47.4%. The deal includes $34 million in cash and $10 million in AMRK stock, with the acquisition expected to close in Q2 2022, subject to conditions including SGB maintaining at least $15 million in net tangible assets. SGB reported net sales of $633 million, gross profits of $41.2 million, and a customer growth of 48% year-over-year.
A-Mark Precious Metals (NASDAQ: AMRK) will host a conference call on May 5, 2022, at 4:30 p.m. Eastern to discuss its financial results for the third quarter ending March 31, 2022. The call will be accessible via U.S. and international dial-in numbers. A replay will be available until May 19, 2022. A-Mark operates as a fully integrated precious metals platform, offering a range of products through its three segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending. Founded in 1965, the company serves various global customer categories.
A-Mark Precious Metals reported a 28% year-over-year increase in Q2 2022 revenues, reaching $1.95 billion. Gross profit surged 252% to $65.9 million, with a gross profit margin of 3.39%. Net income for the quarter was $31.8 million, or $2.61 per diluted share, up from $8.9 million a year ago. Gold and silver sales grew significantly, with gold ounces sold increasing 32% and silver ounces up 51%. Selling expenses rose sharply by 119% due to higher costs associated with the JMB acquisition. Despite this, adjusted net income was strong at $49.0 million.
A-Mark Precious Metals, Inc. (NASDAQ: AMRK) will hold a conference call on February 8, 2022, at 4:30 p.m. Eastern time to discuss its fiscal second-quarter results for the period ending December 31, 2021. The financial results will be disclosed in a press release prior to the call. Interested parties can join the call by dialing in or accessing it via the investor relations section of A-Mark's website. A replay will be available post-call until February 22, 2022.
A-Mark Precious Metals (NASDAQ: AMRK) has secured a new three-year credit facility worth $350 million, effective December 21, 2021. This facility replaces the previous $280 million credit line and marks the largest revolving line in the company’s history. The funds will support A-Mark's growth strategy, increasing access to attractively priced capital. The company aims to leverage this credit for its Secured Lending segment and has a commitment to submit its Form 8-K regarding this agreement by December 27, 2021.
A-Mark Precious Metals (NASDAQ: AMRK) will showcase its innovative CyberMetals platform at a virtual event hosted by D.A. Davidson on December 7, 2021. This new online marketplace allows customers to buy and sell fractional shares of precious metals, providing low pricing spreads compared to traditional industry offerings. With a user-friendly interface and various payment options, CyberMetals aims to streamline digital ownership of precious metals. The platform is set for beta testing in December 2021 and commercial launch in February 2022.
A-Mark Precious Metals (NASDAQ: AMRK) has partnered with the Prax Group to achieve 100% carbon neutrality across its logistics operations. The initiative involves purchasing Verified Emission Reductions (VER) to offset greenhouse gas emissions. A-M Global Logistics, A-Mark's subsidiary, will utilize the offsets from reputable developers involved in global decarbonization projects. This commitment aims to attract institutional investors with ESG mandates and enhance A-Mark's capital costs. A-Mark, founded in 1965, operates as a leading integrated precious metals platform, providing bullion and related services.
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