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A-Mark Precious Metals, Inc. - AMRK STOCK NEWS

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.

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A-Mark Precious Metals (NASDAQ: AMRK), a leading precious metals platform, has announced a quarterly cash dividend of $0.20 per share.

The dividend will be payable on July 31, 2024, to stockholders of record as of July 18, 2024. This decision reflects the company's ongoing dividend program and commitment to return value to its shareholders.

The announcement underscores A-Mark's solid financial position and its ability to generate consistent returns for investors.

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A-Mark Precious Metals (NASDAQ: AMRK) has increased its ownership stake in Silver Gold Bull Inc. (SGB), a leading online precious metals retailer in Canada, to 55.4% with an additional investment of $9.6 million. This acquisition enhances A-Mark's direct-to-consumer reach in the international market. Initially investing in 2014 and boosting its stake to 47.4% in 2022, A-Mark now holds a majority share. The option to increase ownership up to 70% has been extended to September 2025. For the fiscal year ending April 30, 2024, SGB reported net sales of $467.9 million, a gross profit of $20.8 million, and pre-tax income of $4.2 million. SGB also added 53,000 new customers and processed 105,000 orders. Employment agreements have been secured with key SGB management including President and Co-Founder Bob Belandis.

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A-Mark Precious Metals reported Q3 FY 2024 diluted earnings per share of $0.21, repurchased 204,396 shares for $5 million, and expanded into Asia with the acquisition of LPM Group The company reaffirmed its quarterly cash dividend policy of $0.20 per share. Despite challenges, A-Mark delivered $0.21 per diluted share and generated $12.6 million in non-GAAP EBITDA. Operational highlights show decreases in gold and silver ounces sold, while Direct-to-Consumer new customers increased by 8% compared to the previous quarter. Financially, revenues increased by 13% to $2.611 billion, but gross profit decreased by 54% to $34.8 million. Net income attributable to the company decreased by 86% to $5.0 million, with diluted earnings per share of $0.21. Adjusted net income and EBITDA also saw significant declines.

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D.A. Davidson acted as a buy-side advisor to A-Mark Precious Metals on its acquisition of LPM Group from AMS Holding. A-Mark, a fully integrated precious metals platform, acquired a 10% common equity interest in AMS. The acquisition aims to expand A-Mark's international presence, particularly in Asia, by offering a broader set of product offerings and services to its global customer base.
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A-Mark Precious Metals, Inc. (AMRK) will hold a conference call on May 7, 2024, to discuss fiscal third-quarter results. The call will be hosted by A-Mark management and include a question-and-answer session. Financial results will be released prior to the call, and a replay will be available on the company's website.
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A-Mark Precious Metals, Inc. (AMRK) declares a quarterly cash dividend of $0.20 per share, continuing its dividend program.
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JM Bullion, Inc., a subsidiary of A-Mark Precious Metals, Inc. (AMRK), has acquired the gold.com domain, expanding its direct-to-consumer growth strategy. The acquisition of gold.com and silver.com enhances brand recognition and marketability. Single-word domains like gold.com are valuable assets due to their scarcity. The redirection of gold.com traffic to JMB's website provides seamless access to products and services.
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A-Mark Precious Metals, Inc. (AMRK) completes the acquisition of LPM Group Limited, one of Asia's largest precious metals dealers, expanding its footprint into Asia. The transaction details include a total upfront consideration of $41.9 million, with potential additional cash earnings for AMS based on certain EBITDA targets.
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A-Mark Precious Metals, Inc. reported Q2 FY 2024 diluted earnings per share of $0.57, repurchase of 440,092 common shares for $12 million, and paid off asset-backed securitization notes payable. Revenues increased 7% to $2.079 billion, but gross profit decreased 28% to $46.0 million. The company reaffirmed its regular quarterly cash dividend policy of $0.20 per share.
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A-Mark Precious Metals, Inc. has entered into a non-binding letter of intent with AMS Holding, LLC for three transactions, including the proposed acquisition of LPM Group Limited, one of Asia’s largest precious metals dealers. LPM boasts a global customer base and has a three-year average net sales of $393.2 million, 108,000 ounces of gold sold, and 6.3 million ounces of silver sold. A-Mark will acquire LPM for $41.5 million, consisting of $37.5 million in cash and $4.0 million of A-Mark common stock. A-Mark's affiliate, Pinehurst Coin Exchange, Inc., will acquire ModernCoinMart's assets for $5.5 million. A proposed joint venture will acquire a 10% equity interest in AMS. A-Mark will discuss these transactions and its financial results in a conference call today at 4:30 p.m. ET.
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FAQ

What are the main business segments of A-Mark Precious Metals, Inc.?

A-Mark operates through three main segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending.

What does the Wholesale Sales & Ancillary Services segment of A-Mark entail?

This segment includes the distribution and purchase of precious metals from sovereign and private mints, offering over 200 products to e-commerce retailers, coin and bullion dealers, financial institutions, brokerages, and collectors.

How does A-Mark's Direct-to-Consumer segment operate?

The Direct-to-Consumer segment operates as an omni-channel retailer of precious metals through subsidiaries like JM Bullion and Goldline, which manage several branded e-commerce websites and direct marketing channels.

What services does A-Mark provide through its Secured Lending segment?

A-Mark’s Secured Lending segment, managed by Collateral Finance Corporation (CFC), offers loans secured by bullion and numismatic coins to dealers, investors, and collectors.

What recent acquisition did A-Mark make to expand its presence in Asia?

A-Mark acquired LPM Group Limited, one of Asia’s largest precious metals dealers, to enhance its global presence and market reach in the region.

What is significant about JM Bullion's recent acquisition of the gold.com domain?

The acquisition of the gold.com domain is expected to bolster JM Bullion’s direct-to-consumer strategy by utilizing a highly recognizable and marketable digital asset.

How did A-Mark perform financially in the fiscal third quarter of 2024?

A-Mark reported revenues of $2.611 billion for the fiscal third quarter ended March 31, 2024, a 13% increase compared to the previous year, despite a significant decrease in net income attributable to the company.

What dividend policy does A-Mark maintain?

A-Mark has a regular quarterly cash dividend policy, reaffirming a dividend of $0.20 per share.

Where is A-Mark Precious Metals, Inc. headquartered?

A-Mark is headquartered in El Segundo, California.

Where can I find more information about A-Mark Precious Metals, Inc.?

You can find more information on A-Mark's corporate website at www.amark.com.

A-Mark Precious Metals, Inc.

Nasdaq:AMRK

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