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. (NASDAQ: AMRK) generates frequent news as a fully integrated precious metals and alternative assets platform active across wholesale trading, direct-to-consumer retail, and secured lending. Company updates often highlight its role in bullion distribution, numismatic auctions, logistics and storage services, and corporate finance activities.
News coverage for A-Mark commonly includes earnings releases and financial results, where the company reports on revenues, gross profit, adjusted net income, and EBITDA for its fiscal quarters and full year. Management commentary in these releases discusses market conditions in precious metals, integration of acquired businesses such as Spectrum Group International, AMS Holding, and Pinehurst Coin Exchange, and performance across the Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending segments.
Investors and collectors can also follow corporate actions and strategic initiatives reported in A-Mark’s news. Examples include the announced corporate rebranding to Gold.com, the planned transfer of its stock exchange listing from the Nasdaq Global Select Market to the New York Stock Exchange, and a definitive agreement to acquire Monex Deposit Company and related entities, a large direct-to-consumer precious metals dealer in the United States. Dividend announcements, amendments to the company’s revolving credit facility, and details of scheduled earnings conference calls are additional recurring topics.
A-Mark’s news flow further reflects its presence in the numismatics and collectibles market through Stack’s Bowers Galleries. Releases have described high-profile auctions, such as the sale of Sacagawea gold dollars that orbited Earth aboard the Space Shuttle Columbia, illustrating the company’s connection to historically significant coin offerings. Updates may also reference the activities of subsidiaries like LPM in Hong Kong, Silver Towne Mint, A-M Global Logistics, and Collateral Finance Corporation.
For users tracking AMRK, the news stream offers insight into operating performance, acquisitions, financing arrangements, dividend policy, and developments in its global precious metals and collectibles platform. Regularly reviewing this page can help readers follow how A-Mark’s integrated business evolves across wholesale, retail, and lending channels.
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.