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 has priced an offering of 2,500,000 shares of common stock at $28.00 per share, expected to close on March 8, 2021. The company has also granted underwriters a 30-day option to purchase an additional 375,000 shares. Proceeds will mainly fund the acquisition of JM Bullion, Inc., along with other general corporate purposes. The offering follows an effective registration statement on Form S-3. This press release includes forward-looking statements regarding the offering and acquisition, emphasizing potential uncertainties.
A-Mark Precious Metals (NASDAQ: AMRK) has issued guidance for its fiscal third quarter ending March 31, 2021, anticipating net income before taxes between $29 million and $32 million—an increase of 116% to 139% year-over-year. Net income attributable to the company is projected at $22 million to $25 million, up approximately 95% to 121% compared to last year. Earnings per diluted share are expected to be between $2.90 and $3.20, marking an increase of 80% to 99%. The guidance supports a proposed public offering of 2.8 million shares aimed at funding the acquisition of JM Bullion, pending SEC approval.
A-Mark Precious Metals, Inc. (NASDAQ: AMRK) announced a public offering of 2.8 million shares, including 2.5 million from the Company and 300,000 from selling stockholders. The offering also allows for an overallotment option of 420,000 shares. Proceeds will primarily fund the acquisition of JM Bullion, Inc., if completed; otherwise, funds will be used for general corporate purposes. The registration statement with the SEC is pending effectiveness.
A-Mark Precious Metals, Inc. reported a strong fiscal second quarter for 2021, with revenues increasing 44% to $1.52 billion year-over-year. Gross profit surged 131% to $18.8 million, though it fell 48% from the previous quarter. Net income jumped to $8.9 million or $1.16 per diluted share, compared to $1.2 million or $0.17 a year ago. Gold and silver ounces sold both saw increases, with gold up 12% and silver up 51%. Selling, general and administrative expenses climbed 15% to $9.0 million. The outlook remains positive, driven by a favorable market and strategic investments.
A-Mark Precious Metals (NASDAQ: AMRK) has announced the acquisition of the remaining 79.5% of JM Bullion, Inc. for $138.3 million, valuing JMB at $174 million. The deal includes $103.7 million in cash and $34.6 million in A-Mark common stock. JMB's strong performance includes net sales of $1.49 billion and a 120% increase in silver sales year-over-year. This acquisition aims to diversify channels, broaden the brand portfolio, and expand logistics. The transaction is expected to close in Q1 2021, subject to regulatory approval.
A-Mark Precious Metals, Inc. (NASDAQ: AMRK) will hold a conference call on February 9, 2021, at 5:00 p.m. Eastern time to discuss its fiscal second quarter results ended December 31, 2020. The financial results will be released prior to the call. The presentation will be hosted by CEO Greg Roberts, President Thor Gjerdrum, and CFO Kathleen Simpson-Taylor, followed by a Q&A session. The call can be accessed via U.S. and international numbers, and a replay will be available afterward until February 23, 2021.
A-Mark Precious Metals (NASDAQ: AMRK) has acquired a 31.1% stake in Sunshine Minting, Inc. (SMI), enhancing its position in the global precious metals market. This strategic investment builds on a 30-year relationship, enabling A-Mark to tap into SMI's state-of-the-art minting facilities and expand its product offerings. A-Mark aims to leverage identified synergies and support SMI's growth under the leadership of CEO Tom Power. This acquisition is expected to reinforce A-Mark's long-term growth plans and strengthen its market presence.
A-Mark Precious Metals, Inc. (NASDAQ: AMRK) reported a strong fiscal Q1 2021, with revenues soaring 26% to $1.87 billion, driven by increased sales of gold and silver. Gross profit surged 333% to $36.1 million, reflecting a gross margin of 1.94%. Net income reached $23.1 million or $3.09 per diluted share, compared to just $128,000 a year prior. As a result, A-Mark's Board approved a non-recurring special dividend of $1.50 per share, payable on November 30, 2020. The company’s solid performance stemmed from heightened market demand and operational scalability amid economic uncertainties.
A-Mark Precious Metals (NASDAQ: AMRK) will hold its fiscal Q1 2021 results conference call on November 10, 2020, at 4:30 p.m. Eastern Time. CEO Greg Roberts, President Thor Gjerdrum, and CFO Kathleen Simpson-Taylor will present the results, followed by a Q&A session. Financial results will be released prior to the call. Investors can access the live broadcast and a replay on A-Mark's website. The company, established in 1965, specializes in precious metals trading and operates through multiple segments including Wholesale Trading, Secured Lending, and Direct Sales.
A-Mark Precious Metals, Inc. (NASDAQ: AMRK) will hold a conference call on September 10, 2020, at 4:30 PM ET to discuss its fiscal fourth quarter and annual results for the period ending June 30, 2020. The call will be hosted by CEO Greg Roberts, President Thor Gjerdrum, and CFO Kathleen Simpson-Taylor, followed by a Q&A session. Interested parties can access the call via U.S. and international dial-in numbers, with an option for replay available until September 24, 2020. The company is a leading provider in the global precious metals market, offering various products and services.
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