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) 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.
A-Mark Precious Metals reported an 8% increase in revenues to $2.01 billion for the first quarter ended September 30, 2021, compared to $1.87 billion in the prior year. Gross profit surged 55% to $56 million but fell by 36% from the previous quarter. Net income rose slightly to $26 million, down from $51 million the prior quarter, and diluted EPS was $2.17. Silver sales increased 16% while gold sales dropped 7%. The company noted a significant rise in secured loans, up 84% year-over-year. Management expressed optimism about their integrated business model and ongoing demand for precious metals.
A-Mark Precious Metals (NASDAQ: AMRK) will conduct a conference call on November 4, 2021, at 4:30 p.m. Eastern time to discuss its fiscal Q1 results for the quarter ending September 30, 2021. Financial results will be released prior to the call. The call can be accessed by U.S. callers at 1-855-327-6837 and internationally at 1-631-891-4304. A replay will be available post-call.
A-Mark is a leading integrated precious metals platform offering a variety of bullion products and services.
A-Mark Precious Metals reported a record fiscal fourth quarter for 2021, achieving revenues of $2.18 billion, a 31% increase year-over-year. Gross profit surged to $87.1 million, up 211%, with a gross profit margin of 4.00%. Net income reached $51.0 million, translating to $4.28 per diluted share, a 72% increase from the previous year. The company declared a special dividend of $2.00 per share, payable on September 24, 2021. The acquisition of JM Bullion significantly contributed to earnings, adding $37.6 million to gross profit in its first full quarter of ownership.
A-Mark Precious Metals (NASDAQ: AMRK) announced a significant increase in its investment in Pinehurst Coin Exchange, raising its ownership from 10% to 49% for $9.75 million, comprising $6.75 million in cash and $3 million in stock. This move, valuing Pinehurst at $25 million, underscores A-Mark's strategy to enhance its market presence in the e-commerce sector, specifically through direct-to-consumer channels. Additionally, A-Mark increased its stake in Sunshine Minting from 31.1% to 44.9%, demonstrating a commitment to expand its minting services.
A-Mark Precious Metals (NASDAQ: AMRK) will hold a conference call on September 9, 2021, at 4:30 p.m. Eastern time to discuss its fiscal fourth quarter and fiscal year results ending June 30, 2021. The call will feature CEO Greg Roberts, President Thor Gjerdrum, and CFO Kathleen Simpson-Taylor. Financial results will be released prior to the call. Interested parties can access the call via U.S. dial-in number 1-877-407-0789 or internationally at 1-201-689-8562, with a conference ID of 13722502. A replay will be available until September 23, 2021.
A-Mark Precious Metals (AMRK) reported record fiscal Q3 results for the period ending March 31, 2021, achieving over $2 billion in revenue, a 63% increase year-over-year. Net income was $76.6 million, or $8.84 per diluted share, boosted by the acquisition of JM Bullion (completed March 19, 2021), which contributed $8.5 million in gross profit. Notably, gold and silver sales surged, with gold ounces sold up 52% and silver ounces up 29%. However, selling and administrative expenses increased by 42% due to acquisition-related costs. The company anticipates sustained growth amid continuing demand for precious metals.
A-Mark Precious Metals (NASDAQ: AMRK) will host a conference call on May 12, 2021 at 4:30 p.m. Eastern time to discuss its fiscal Q3 results for the period ending March 31, 2021. The call will be led by CEO Greg Roberts, President Thor Gjerdrum, and CFO Kathleen Simpson-Taylor, followed by a Q&A session.
Investors can join via U.S. dial-in at 1-855-327-6837 or international at 1-631-891-4304. A replay will be available until May 26, 2021. To learn more, visit www.amark.com.
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