A-Mark Precious Metals tumbles as Q2 profit misses estimates
07/02/2023 17:29
** Shares of integrated precious metals platform A-Mark
Precious Metals Inc AMRK.O fall 14.2% to $31.23
** Stock to see its worst day in about eight months if
losses sustain
** Co on Monday after the bell reported fiscal Q2 adj.
profit of $1.35/shr vs avg analyst estimate of $1.40/shr -
Refinitiv
** AMRK says sale of gold ounces decreased 10% to 565,00
ounces, compared with the same quarter, last year
** Co says revenue increased 0.2% in Q2, compared to the
year-ago quarter, driven by an increase in silver ounces sold
but the gains were partially offset by a decrease in gold ounces
sold and lower average selling prices of gold and silver
** Stock is down 9.1% YTD
(Reporting by Sourasis Bose in Bengaluru)
((Sourasis.bose@thomsonreuters.com))