A-Mark Precious Metals Joins Russell 3000® Index
June 29 2020 - 8:00AM
A-Mark Precious Metals, Inc. (NASDAQ:
AMRK), a leading full-service provider of products and
services to the global precious metals market, was added to the
broad-market Russell 3000® Index at the conclusion of the annual
reconstitution of the Russell indexes, effective after the U.S.
market opens today, June 29, according to the FTSE Russell website.
Annual Russell indexes reconstitution captures the 4,000 largest
U.S. stocks as of May 8, ranking them by total market
capitalization. Membership in the U.S. all-cap Russell 3000® Index,
which remains in place for one year, means automatic inclusion in
the large-cap Russell 1000® Index or small-cap Russell 2000® Index
as well as the appropriate growth and value style indexes. FTSE
Russell determines membership for its Russell indexes primarily by
objective, market-capitalization rankings and style attributes.
“Joining the Russell 3000 Index represents another major
milestone for A-Mark that we expect will increase awareness of our
accomplishments,” said CEO Greg Roberts. “This follows several
other recent achievements for our company, including the $11.3
million in net income we realized in fiscal Q3 2020, which was the
highest net income level for any quarterly or fiscal year period
since A-Mark became a publicly traded company in 2014. We expect to
leverage this additional exposure within the investment community
into improved liquidity and greater awareness for our company,
which should benefit both new and existing investors going
forward.”
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. Approximately $9 trillion in assets
are benchmarked against Russell’s U.S. indexes. Russell indexes are
part of FTSE Russell, a leading global index provider.
For more information on the Russell 3000® Index and the Russell
indexes reconstitution, go to the “Russell Reconstitution” section
on the FTSE Russell website.
About A-Mark Precious Metals Founded in
1965, A-Mark Precious Metals, Inc. (NASDAQ: AMRK) is a
leading full-service precious metals trading company and wholesaler
of gold, silver, platinum and palladium bullion and related
products. The company’s global customer base includes sovereign and
private mints, manufacturers and fabricators, refiners, dealers,
financial institutions, industrial users, investors, collectors,
and e-commerce and other retail customers. The company conducts its
operations through three complementary segments: Wholesale Trading
& Ancillary Services, Secured Lending, and Direct Sales.
A-Mark operates several business units in its Wholesale Trading
& Ancillary Services segment, including Industrial, Coin and
Bar, Trading and Finance, Transcontinental Depository Services
(TDS), Logistics, and the Mint (as more fully described
below). Its Industrial unit services manufacturers and
fabricators of products utilizing precious metals, while its Coin
and Bar unit deals in over 200 different products for distribution
to dealers and other qualified purchasers. As
a U.S. Mint-authorized purchaser of gold, silver and
platinum coins, A-Mark purchases bullion products directly from
the U.S. Mint for sale to customers. A-Mark also has
distributorships with other sovereign mints,
including Australia, Austria, Canada, China, Mexico, South
Africa and the United Kingdom. Through
its TDS subsidiary, A-Mark provides customers with a
variety of managed storage options for precious metals worldwide.
Through its A-M Global Logistics subsidiary, A-Mark provides
customers an array of complementary services, including receiving,
handling, inventorying, processing, packaging and shipping of
precious metals and custom coins on a secure basis. A-Mark also
holds a majority stake in a joint venture that owns the minting
operations known as SilverTowne Mint (Mint), which
designs and produces minted silver products which provide greater
product selection to customers, price stability within the supply
chain as well as more secured access to silver during volatile
market environments.
The company operates its Secured Lending segment through its
wholly-owned subsidiaries, Collateral Finance
Corporation (CFC) and AM Capital Funding,
LLC (AMCF). Founded in 2005, CFC is a licensed finance
lender that originates and acquires loans secured by bullion and
numismatic coins. Its customers include coin and precious metal
dealers, investors, and collectors. AMCF was formed in 2018
for the purpose of securitizing eligible secured loans of CFC.
A-Mark operates its Direct Sales segment primarily through its
wholly-owned subsidiary Goldline Inc. (Goldline), a
direct retailer of precious metals for the investor community.
Goldline markets A-Mark’s precious metal products through various
channels, including radio, television, and the Internet.
A-Mark is headquartered in El Segundo, California, with
offices and facilities in Los Angeles,
California, Vienna, Austria, Las Vegas, Nevada,
and Winchester, Indiana. For more information,
visit www.amark.com.
Company Contact:Thor Gjerdrum, PresidentA-Mark
Precious Metals, Inc.1-310-587-1414thor@amark.com
Investor Relations Contact:Matt GloverGateway
Investor Relations1-949-574-3860AMRK@gatewayIR.com
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