A-Mark Precious Metals Increases Share Repurchase Program

EL SEGUNDO, Calif., Nov. 20, 2023 (GLOBE NEWSWIRE) -- The board of directors of A-Mark Precious Metals, Inc. (NASDAQ: AMRK) (A-Mark), a leading fully integrated precious metals platform, has authorized an increase in the number of shares which may be repurchased under the Company’s existing share repurchase program.

Under the revised program, A-Mark is authorized to repurchase up to 1,221,152 shares of its outstanding common stock, in addition to the 778,848 shares repurchased under the program through November 14, 2023, for a total of 2 million shares. As previously reported, the Company repurchased 171,268 shares during the fiscal first quarter of 2024 ended September 30, 2023. In the fiscal second quarter of 2024, the Company has repurchased an additional 303,417 shares through November 17, 2023. The share repurchase program expires on June 30, 2028.

“We continue to view our share repurchase program as an attractive investment opportunity for the Company and another way to deliver value to our shareholders,” said A-Mark CEO Greg Roberts.

The actual number of shares repurchased and the timing of repurchases will be determined by management and will depend on a number of factors, including stock price, trading volume, general market conditions, working capital requirements, and other factors. The stock repurchase program may be modified, suspended, or terminated at any time. Repurchases of shares under the program may be made through open market purchases or privately negotiated transactions, including repurchase plans that satisfy the conditions of Rule 10b5-1 of the Securities Exchange Act of 1934, as amended.

About A-Mark Precious Metals
Founded in 1965, A-Mark Precious Metals, Inc. is a leading fully integrated precious metals platform that offers an array of gold, silver, platinum, palladium, and copper bullion, numismatic coins, and related products to wholesale and retail customers via a portfolio of channels. The company conducts its operations through three complementary segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending. The company’s global customer base spans sovereign and private mints, manufacturers and fabricators, refiners, dealers, financial institutions, industrial users, investors, collectors, e- commerce customers, and other retail customers.