A-Mark Precious Stock Price, News & Analysis

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.