Professional
Added to YB: 2024-05-16
Pitch date: 2024-04-23
AMRK [bullish]
A-Mark Precious Metals, Inc.
-11.65%
current return
Author Info
Praetorian Capital is a hedge fund managed by Harris “Kuppy” Kupperman dedicated to seeking non-correlated, asymmetric and absolute returns. Sign up for the newsletter.
Company Info
A-Mark Precious Metals, Inc., together with its subsidiaries, operates as a precious metals trading company.
Market Cap
$539.5M
Pitch Price
$35.90
Price Target
N/A
Dividend
3.65%
EV/EBITDA
19.71
P/E
13.96
EV/Sales
0.13
Sector
Distributors
Category
value
Praetorian Capital Portfolio Holding: A-Mark Precious Metals, Inc.
AMRK: Supplies coins to dealers & online via JM Bullion etc. Stakes in 2 mints. Chaos drives volume & widens spreads. Earned ~$7/share FY21-23 adj for one-offs. Acquired at 4x earnings - high ROIC biz at bargain price. Earnings down on lower volume & spreads, but provides crisis hedge. Mgmt sees $10/share earnings in crisis scenario + healthy multiple. Ideal precious metals proxy vs mining risk.
Read full article (2 min)