A-Mark Precious Metals, Inc.
$42.83
+13%A-Mark Precious Metals, Inc., together with its subsidiaries, operates as a precious metals trading company. It operates in three segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending. The Wholesale Sales & Ancillary Services segment sells gold, silver, platinum, and palladium in the form of bars, plates, powders, wafers, grains, ingots, and coins. This segment also offers various ancillary services, including financing, storage, consignment, logistics, and various customized financial programs; and designs and produces minted silver products. The Direct-to-Consumer segment provides access to an array of gold, silver, copper, platinum, and palladium products through its websites and marketplaces. It operates five company-owned websites targeting specific niches within the precious metals retail market. This segment also operates as a direct retailer of precious metals to the investor community and markets its precious metal products on television, radio, and the internet, as well as through customer service outreach. The Secured Lending segment originates and acquires commercial loans secured by bullion and numismatic coins; and serves coin and precious metal dealers, investors, and collectors. The company serves customers, including financial institutions, bullion retailers, industrial manufacturers and fabricators, sovereign mints, refiners, coin and metal dealers, investors, collectors, and e-commerce and other retail customers. It has operations in the United States, rest of North America, Europe, the Asia Pacific, Africa, and Australia. A-Mark Precious Metals, Inc. was founded in 1965 and is headquartered in El Segundo, California.
At a Glance
Live SnapshotIntrinsic Alpha Methodology
Thesis Lenses
Signal
High confidenceValuation multiple is elevated (P/E 58.7).
Valuation inputs: P/E 58.7, earnings yield +1.7%, momentum +12.5%.
If multiples stay elevated while momentum fades, downside repricing risk rises.
Driver
High confidenceReturn profile is soft (ROE +2.7%, ROIC +2.2%).
Profitability stack: net margin +0.2%, ROE +2.7%, ROIC +2.2%.
Quality deterioration often appears in margins before it shows up in headline EPS.
Risk
High confidenceRisk profile is balanced but has notable pressure points to monitor.
Risk factors: liabilities/assets +68.3%, momentum +12.5%, net margin +0.2%.
Higher leverage with weak momentum and thin margins can amplify drawdown severity.
A-Mark Precious Metals, Inc. Market vs Earnings Trajectory
Performance Analysis
EPS Growth
Declining earnings warrant investigation into business challenges and competitive position.
Price-EPS Relationship
Price is rising despite declining earnings—caution advised as valuation may be stretched.
Stock Price Change
Over the 1Y period, stock price has increased by 110.0%.
P/E Ratio (TTM)
Very high P/E suggests premium valuation or high growth expectations.
Key Insight
Despite declining earnings (-63.9%), the stock price has risen (+110.0%). This disconnect suggests investors may be optimistic about future turnaround, but earnings recovery is critical to sustain the valuation.
A-Mark Precious Metals, Inc. Fair Value Envelope
A-Mark Precious Metals, Inc. Profit Bridge
Profitability Analysis
Gross Margin
Thin margins leave little room for error. Cost management and pricing strategy are critical.
Operating Margin
Minimal operating profit suggests high operating costs or pricing challenges. Scalability is concerning.
Net Profit Margin
Minimal profitability after all expenses. Limited financial flexibility for reinvestment or shareholder returns.
Effective Tax Rate
Higher tax burden may reflect limited tax optimization or operations in high-tax jurisdictions.
Profitability Insight
Efficient profit conversion: Minimal margin compression from gross to net indicates lean operations and favorable tax/interest environment.
A-Mark Precious Metals, Inc. Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.
CapEx Intensity
Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.
FCF Growth Trend
Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.
Working Capital Impact
Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.
Cash Flow Quality Insight
Exceptional cash generation: High-quality earnings converting to growing free cash flow. The company demonstrates strong pricing power, efficient operations, and disciplined capital allocation.
A-Mark Precious Metals, Inc. Funding & Solvency Profile
Financial Health Analysis
Current Ratio
Acceptable liquidity, but monitor closely. Current assets just barely cover current liabilities.
Debt-to-Equity Ratio
High financial leverage. Heavy reliance on debt may indicate increased financial risk and potential solvency concerns.
Working Capital
Positive working capital, but relatively tight. The company should monitor cash flow carefully.
Asset Composition
Asset-light business model with high liquidity. Majority of assets are easily convertible to cash.
A-Mark Precious Metals, Inc. Street Expectations Map
Wall Street analysts project that AMRK stock may decline over the coming 12 months. The consensus 1-year price target stands at 34.00, with estimates ranging from a low of 34.00 to a high of 34.00.
The consensus 1-year price target stands at 34.00, with estimates ranging from a low of 34.00 to a high of 34.00.
Analyst Consensus Analysis
Upside Potential
Significant downside risk. Stock trading well above analyst consensus suggests elevated valuation concerns and potential correction.
Analyst Agreement
High analyst agreement. Narrow target range indicates strong consensus on valuation, suggesting clear investment thesis and predictable outlook.
Risk-Reward Profile
Balanced risk-reward. Upside and downside potential relatively symmetric. Suitable for moderate risk tolerance with conviction in thesis.
Analyst Conviction
Bearish or uncertain outlook. Limited upside or poor consensus suggests challenges ahead or fundamental concerns.
Market Sentiment Insight
Consensus overvaluation: Analysts agree the stock is richly valued with limited upside. Consider booking profits or defensive positioning unless you have contrarian conviction in unrecognized catalysts.
A-Mark Precious Metals, Inc. Insider Positioning
During the last 12 months, insiders have purchased $2K and sold $4.67M worth of AMRK shares, resulting in $4.67M of net selling activity.
3 Months
0
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0
0.00
+0
+$0
3-6 Months
0
0.00
0
0.00
+0
+$0
6-9 Months
0
0.00
175.7K
4.55M
-4.6M
-$4.55M
9-12 Months
119
2.45K
5.3K
118.60K
-116K
-$116K
Top Buyers
Lepine Beverley
Director
$2K
Top Sellers
Roberts Gregory N
Director, 10 Percent Owner, Officer: Chief Executive Officer
$3.76M
Ravich Jess M
Director
$663K
Gjerdrum Thor
Officer: President
$119K
John Moorhead
Director
$70K
Meltzer Carol
Director, Officer: Evp, Gen. Counsel & Secretary
$58K
Insider Activity Analysis
Net Insider Sentiment
Strong bearish signal with $4.67M net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.
Buy/Sell Ratio
Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.
Insider Participation
5 insider sellers vs. 1 buyers. Widespread selling across multiple insiders may signal concerns.
amrk Dividend History
Learning Layer
Related Guides
Build conviction on AMRK by pairing this stock hub with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.