Professional
Added to YB: 2024-05-16
Pitch date: 2024-04-23
AMRK [bullish]
Gold.com, Inc.
+28.26%
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
Gold.com, Inc., together with its subsidiaries, operates as a precious metals company. It operates through three segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending.
Market Cap
$1.2B
Pitch Price
$35.60
Price Target
N/A
Dividend
1.91%
EV/EBITDA
15.11
P/E
13.62
EV/Sales
0.12
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.
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