EL SEGUNDO, CA – A-Mark Precious Metals, Inc. (NASDAQ:), a leading wholesaler of precious metals, has amended its existing credit agreement, extending the facility’s termination date and modifying certain covenants. This development was formalized on Monday, with the company entering into the Tenth Amendment to its Credit Agreement.

The amendment pushes the termination date of the revolving credit facility to September 30, 2026, or an earlier date if certain conditions outlined in the agreement are met. This extension provides A-Mark with continued access to its credit line for nearly two additional years beyond the original termination date.

In addition to the extension, the Tenth Amendment also introduces changes to the covenants of the Credit Agreement. While the specific details of these modifications were not disclosed in the press release, such changes typically aim to adjust the company’s operational and financial flexibility within the scope of the credit facility.

A-Mark’s original Credit Agreement was established on December 21, 2021, and has since undergone several amendments leading up to this latest, the Tenth Amendment. CIBC Bank USA serves as the administrative agent for the lenders involved in this credit facility.

In other recent news, A-Mark Precious Metals has seen significant developments in its financial performance and business strategy. The company’s fiscal year results, ending June 30, 2024, reported a net income of $66.2 million, with diluted earnings per share (EPS) of $2.75.

After excluding a re-measurement gain from its investment in Silver Gold Bull, the diluted EPS was $2.15. Despite a 19% decrease in fourth-quarter revenues to $2.52 billion, A-Mark concluded the fiscal year with over $3 million direct-to-consumer customers and repurchased $22.4 million of its common stock.

Analysts from B.Riley and DA Davidson have shown confidence in A-Mark Precious Metals, raising their stock price targets to $44 and $47 respectively. B.Riley’s new forecast expects A-Mark Precious Metals to achieve an adjusted EBITDA of $31.6 million and earnings per share (EPS) of $0.91 for the first quarter of fiscal year 2025, up from its previous estimates. This optimism is based on the assumption of increased gold and silver pricing and improved sales volumes.

In strategic developments, A-Mark Precious Metals is contemplating expanding its market reach, potentially through a trading hub in Singapore. The company has also broadened its presence in Asia with the acquisition of LPM and increased its investment in Silver Gold Bull Canada.

Despite facing a 25% increase in interest expenses and a 54% decrease in full-year EBITDA compared to the previous fiscal year, A-Mark remains optimistic about potential M&A opportunities and maintaining profitability.

InvestingPro Insights

A-Mark Precious Metals’ recent amendment to its credit agreement aligns with the company’s strong financial performance and market position. According to InvestingPro data, A-Mark has demonstrated impressive growth with a 60.24% price total return over the past year and a substantial 46.43% return in the last six months. This positive momentum is further reflected in the company’s market capitalization of $1.03 billion.

InvestingPro Tips highlight that A-Mark’s stock price often moves in the opposite direction of the market, which could be advantageous for investors seeking portfolio diversification. Additionally, the company’s liquid assets exceed short-term obligations, suggesting a solid financial foundation that supports the extended credit facility.

While A-Mark suffers from weak gross profit margins, as noted by an InvestingPro Tip, the company remains profitable with a P/E ratio of 15.05, indicating reasonable valuation relative to earnings. This profitability, combined with the extended credit agreement, positions A-Mark well for potential future growth in the precious metals market.

For investors interested in a deeper analysis, InvestingPro offers 13 additional tips for A-Mark Precious Metals, providing a more comprehensive view of the company’s financial health and market position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

CAMDEN, Maine, Oct. 2, 2024 /PRNewswire/ — Camden National (NASDAQ:) Corporation (NASDAQ: ) will report financial and operating results for the quarter ended September 30, 2024 on Tuesday, October 29, 2024.  A conference call and webcast will be held at 3:00 p.m. Eastern on Tuesday, October 29, 2024 hosted by Simon Griffiths, President and Chief Executive Officer and Michael Archer, Executive Vice President, Chief Financial Officer.

Parties interested in listening to the teleconference should dial into the call or connect to the webcast link 10 “ 15 minutes before it begins. Dial-in and webcast information to participate is as follows:

Live Dial-In (Domestic): (833) 470-1428
Live Dial-In (International): (929) 526-1599
Participant access code: 504894
Live Webcast URL:    https://events.q4inc.com/attendee/685424551

A link to the live webcast will be available on Camden National Corporation’s website at CamdenNationalCorporation.com  prior to the meeting. The transcript and replay of the conference call will also be made available on Camden National’s website following the conference call.

About Camden National Corporation

Camden National Corporation (NASDAQ: CAC) is Northern New England’s largest publicly traded bank holding company, with $5.7 billion in assets. Founded in 1875, Camden National Bank has 57 branches in Maine and New Hampshire, is a full-service community bank offering the latest digital banking, complemented by award-winning, personalized service. Additional information is available at CamdenNational.bank. Member FDIC. Equal Housing Lender.

Comprehensive wealth management, investment, and financial planning services are delivered by Camden National Wealth Management.

LAKEWOOD, Colo., Oct. 02, 2024 (GLOBE NEWSWIRE) —  Mesa Laboratories, Inc. (NASDAQ:MLAB) (we, us, our, Mesa or the Company) today announced that its Board of Directors has declared a regular quarterly dividend of $0.16 per share of common stock. The dividend will be payable on December 16, 2024, to shareholders of record at the close of business on November 29, 2024.

About Mesa Laboratories (NASDAQ:), Inc.

Mesa is a global leader in the design and manufacture of life science tools and critical quality control solutions for regulated applications in the pharmaceutical, healthcare and medical device industries. Mesa offers products and services to help our customers ensure product integrity, increase patient and worker safety, and improve the quality of life throughout the world.

Forward Looking Statements

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