Should You Hold A-Mark Precious Metals (AMRK) for the Long Term?
Kingdom Capital Advisors, a private investment firm, released its fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy returned 7.19% net of fees in the fourth quarter compared to 7.56% for the S&P 500 and 7.09% for the Russell 3000. The strategy returned 23.21% (net) since inception on January 11, 2022, compared to 40% for the S&P 500 index. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Kingdom Capital Advisors highlighted stocks like A-Mark Precious Metals, Inc. (NASDAQ:AMRK) in the fourth quarter 2022 investor letter. Headquartered in El Segundo, California, A-Mark Precious Metals, Inc. (NASDAQ:AMRK) is precious metals trading company. On April 6, 2023, A-Mark Precious Metals, Inc. (NASDAQ:AMRK) stock closed at $35.78 per share. One-month return of A-Mark Precious Metals, Inc. (NASDAQ:AMRK) was 28.24%, and its shares lost 5.47% of their value over the last 52 weeks. A-Mark Precious Metals, Inc. (NASDAQ:AMRK) has a market capitalization of $844.759 million.
Kingdom Capital Advisors made the following comment about A-Mark Precious Metals, Inc. (NASDAQ:AMRK) in its Q4 2022 investor letter:
"Lastly, A-Mark Precious Metals, Inc. (NASDAQ:AMRK) continues to execute and grow their direct-to-consumer bullion sales, breaking records during 2022 and building an impressive moat around their business. We significantly hindered our AMRK returns after buying calls in the first half of the year, correctly anticipating earnings beats but incorrectly expecting an increase in the stock price. The bullion market remains strong and AMRK continues making accretive acquisitions. We look forward to continuing to watch Management grow the business and create value for shareholders."
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A-Mark Precious Metals, Inc. (NASDAQ:AMRK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 14 hedge fund portfolios held A-Mark Precious Metals, Inc. (NASDAQ:AMRK) at the end of the fourth quarter which was 13 in the previous quarter.
We discussed A-Mark Precious Metals, Inc. (NASDAQ:AMRK) in another article and shared Kingdom Capital Advisors' views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
