A-Mark Precious Metals: DTC Transformation Creates Massive Runway

Kingdom Capital profile picture
Kingdom Capital


  • A-Mark has drastically transformed their business since the last time I covered them for Seeking Alpha, and the valuation has recently pulled back to extremely attractive levels.
  • Gold and Silver have not held up as inflation trades YTD, but A-Mark represents a great way to get exposure to precious metals without commodity price risk.
  • We believe A-Mark can consistently earn over $100m EBITDA annually in their new business model.
Gold bars,silver,copper,platinum,1000 grams pure metal,business investment and wealth concept.wealth of commodity ,3d rendering


Since I last profiled A-Mark Precious Metals (NASDAQ:AMRK) on Seeking Alpha, they have completely transformed, generating ~$400m of EBITDA, acquiring new streams of revenue, and strengthening margins via vertical integration. The company has expanded from a low-margin precious metals wholesaler to a higher

This article was written by

Kingdom Capital profile picture
Deep value investor focused primarily on microcap stocks. Registered Investment Advisor located in Virginia.

Disclosure: I/we have a beneficial long position in the shares of AMRK either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Recommended For You

Comments (18)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.