Gold.com (NYSE:GOLD – Get Free Report) issued its quarterly earnings results on Wednesday. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.83), RTT News reports. Gold.com had a net margin of 0.32% and a return on equity of 17.22%. During the same quarter last year, the company earned ($0.04) earnings per share.
Here are the key takeaways from Gold.com’s conference call:
- Gold.com reported net income of $1.6 million, versus a year-ago loss of $0.9 million. Gross profit rose 23%, adjusted pretax net income increased 172%, and EBITDA grew 22%; revenue excluding hedging-related forward sales was up 51% year over year.
- Management described the quarter as exceptionally slow, with activity down from the prior quarter and some sales requiring lower margins. Gold and silver ounces sold were nevertheless higher year over year, while reported revenue declined 11% largely because of lower forward sales.
- The company is combining SilverTowne Mint and Sunshine Minting into a separate minting and refining segment, adding supply-chain control and capacity; refining utilization was about 65%. Management said integration is progressing and expects synergies, though stronger mint profitability depends on higher utilization.
- Cash fell to $126.8 million from $578 million at fiscal year-end, primarily reflecting lower deferred revenue and advances, while management said liquidity remains strong and precious-metal leases have been reduced to a level it considers appropriate. The board maintained the $0.20 quarterly dividend after the company paid a one-time $1 special dividend during the quarter.
Gold.com Price Performance
NYSE GOLD traded up $2.42 on Wednesday, hitting $41.54. 2,296,180 shares of the company were exchanged, compared to its average volume of 433,387. The company’s 50 day moving average price is $42.50 and its 200-day moving average price is $44.72. The firm has a market capitalization of $1.21 billion, a P/E ratio of 7.82 and a beta of 0.63. Gold.com has a twelve month low of $23.00 and a twelve month high of $66.70.
Gold.com Dividend Announcement
The business also recently declared a special dividend, which was paid on Monday, September 28th. Investors of record on Wednesday, September 16th were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, September 16th. Gold.com’s dividend payout ratio (DPR) is currently 27.40%.
Insider Transactions at Gold.com
In other news, major shareholder Tether Global Investments Fund bought 27,633 shares of the company’s stock in a transaction dated Wednesday, October 28th. The shares were acquired at an average cost of $39.39 per share, with a total value of $1,088,463.87. Following the completion of the transaction, the insider directly owned 500,000 shares in the company, valued at approximately $19,695,000. The trade was a 5.85% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey D. Benjamin sold 18,048 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $44.50, for a total transaction of $803,136.00. Following the sale, the director owned 261,546 shares in the company, valued at $11,638,797. This represents a 6.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have acquired 300,000 shares of company stock valued at $11,840,113 and have sold 124,859 shares valued at $5,835,628. 16.50% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
GOLD has been the topic of a number of research reports. Wall Street Zen downgraded shares of Gold.com from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings restated a “hold (c+)” rating on shares of Gold.com in a report on Monday, August 17th. DA Davidson restated a “buy” rating and set a $60.00 target price on shares of Gold.com in a report on Thursday, September 3rd. Northland Securities set a $55.00 price target on shares of Gold.com in a research report on Thursday, September 3rd. Finally, Canaccord Genuity Group dropped their price target on Gold.com from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, September 3rd. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $58.00.
Check Out Our Latest Research Report on GOLD
About Gold.com
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. The Wholesale Sales & Ancillary Services segment sells gold, silver, platinum, and palladium in the form of bars, plates, powders, wafers, grains, ingots, and coins. This segment also offers complementary services, such as receiving, handling, inventorying, processing, packing, and shipping of precious metals and custom coins on a secure basis; and designs and produces minted silver products.
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