Welcome to our dedicated page for A-Mark Precious news (Ticker: AMRK), a resource for investors and traders seeking the latest updates and insights on A-Mark Precious stock.
A-Mark Precious Metals, Inc. (AMRK) provides investors and industry stakeholders with critical updates through this dedicated news hub. As a leading fully integrated precious metals platform, the company's announcements span wholesale trading activities, retail operations through subsidiaries like JM Bullion, and secured lending via Collateral Finance Corporation.
This resource aggregates official press releases, regulatory filings, and market-moving developments. Users will find updates on quarterly earnings, strategic partnerships, inventory acquisitions, and operational expansions. The curated collection serves as a reliable reference for tracking AMRK's position in global bullion markets and ancillary services.
Content categories include product launches, mint collaborations, logistics advancements, and financial performance reports. Each entry maintains factual accuracy while avoiding speculative commentary, adhering to strict compliance standards.
Bookmark this page for streamlined access to A-Mark's evolving business narrative. Regular updates ensure stakeholders stay informed about the company's role in precious metals distribution, storage solutions, and commodity-backed financial services.
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.
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.
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