A-Mark Precious Stock Price, News & Analysis

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.