A-Mark Precious Stock Price, News & Analysis

A-Mark Precious Metals (NASDAQ: AMRK) will host a conference call on May 12, 2021 at 4:30 p.m. Eastern time to discuss its fiscal Q3 results for the period ending March 31, 2021. The call will be led by CEO Greg Roberts, President Thor Gjerdrum, and CFO Kathleen Simpson-Taylor, followed by a Q&A session.

Investors can join via U.S. dial-in at 1-855-327-6837 or international at 1-631-891-4304. A replay will be available until May 26, 2021. To learn more, visit www.amark.com.

A-Mark Precious Metals (NASDAQ: AMRK) announced the appointment of Rick Gibbons as senior vice president of trading, enhancing its trading team. Gibbons has over 30 years of experience in precious metals trading, previously serving at HSBC, where he contributed to the firm's success in institutional trading. His expertise spans mine finance and institutional trading, which A-Mark aims to leverage for global trading operations expansion. A-Mark operates through segments including Direct-to-Consumer and Wholesale Sales, offering various precious metals and related products.

A-Mark Precious Metals (NASDAQ: AMRK) has successfully completed its acquisition of 79.5% of JM Bullion for approximately $136.8 million. This includes $106.5 million in cash and $30.3 million in common stock. The acquisition is expected to enhance A-Mark's direct-to-retail strategy and capitalize on rising demand for precious metals online. Following the acquisition, Michael Wittmeyer and Kendall Saville from JMB joined A-Mark's board, along with Monique Sanchez, bringing extensive e-commerce and digital marketing experience.

A-Mark Precious Metals (NASDAQ: AMRK) announced that underwriters fully exercised their option to purchase an additional 375,000 shares related to a public offering of common stock. This brings the total shares sold to 2,875,000 at $28.00 per share, resulting in expected net proceeds of approximately $75.3 million. The funds will primarily support the acquisition of JM Bullion, Inc. If this acquisition does not occur, the proceeds will be used for general corporate purposes. The offering was facilitated by D.A. Davidson & Co. and Roth Capital Partners.

A-Mark Precious Metals has priced an offering of 2,500,000 shares of common stock at $28.00 per share, expected to close on March 8, 2021. The company has also granted underwriters a 30-day option to purchase an additional 375,000 shares. Proceeds will mainly fund the acquisition of JM Bullion, Inc., along with other general corporate purposes. The offering follows an effective registration statement on Form S-3. This press release includes forward-looking statements regarding the offering and acquisition, emphasizing potential uncertainties.

A-Mark Precious Metals (NASDAQ: AMRK) has issued guidance for its fiscal third quarter ending March 31, 2021, anticipating net income before taxes between $29 million and $32 million—an increase of 116% to 139% year-over-year. Net income attributable to the company is projected at $22 million to $25 million, up approximately 95% to 121% compared to last year. Earnings per diluted share are expected to be between $2.90 and $3.20, marking an increase of 80% to 99%. The guidance supports a proposed public offering of 2.8 million shares aimed at funding the acquisition of JM Bullion, pending SEC approval.

A-Mark Precious Metals, Inc. (NASDAQ: AMRK) announced a public offering of 2.8 million shares, including 2.5 million from the Company and 300,000 from selling stockholders. The offering also allows for an overallotment option of 420,000 shares. Proceeds will primarily fund the acquisition of JM Bullion, Inc., if completed; otherwise, funds will be used for general corporate purposes. The registration statement with the SEC is pending effectiveness.

A-Mark Precious Metals, Inc. reported a strong fiscal second quarter for 2021, with revenues increasing 44% to $1.52 billion year-over-year. Gross profit surged 131% to $18.8 million, though it fell 48% from the previous quarter. Net income jumped to $8.9 million or $1.16 per diluted share, compared to $1.2 million or $0.17 a year ago. Gold and silver ounces sold both saw increases, with gold up 12% and silver up 51%. Selling, general and administrative expenses climbed 15% to $9.0 million. The outlook remains positive, driven by a favorable market and strategic investments.

A-Mark Precious Metals (NASDAQ: AMRK) has announced the acquisition of the remaining 79.5% of JM Bullion, Inc. for $138.3 million, valuing JMB at $174 million. The deal includes $103.7 million in cash and $34.6 million in A-Mark common stock. JMB's strong performance includes net sales of $1.49 billion and a 120% increase in silver sales year-over-year. This acquisition aims to diversify channels, broaden the brand portfolio, and expand logistics. The transaction is expected to close in Q1 2021, subject to regulatory approval.