Money4Gold Holdings (MFGD) is a buyer of gold, platinum and silver jewelry from consumers. The company gives sellers cash for their jewelry and refines the precious metals back to their original form. The company primarily produces gold, platinum, and silver metals from recycling customers’ jewelry, coins, electronic components, and heirloom collectibles. It also offers recycling services for other precious metals, including platinum and palladium. Money4Gold is the only public company in the burgeoning cash-for-gold industry.
Money4Gold’s business stands to benefit as the US economy remains sluggish and consumers need cash. Consumers in need of extra money for daily living expenses are target customers for Florida-based Money4Gold. Earlier this month, shares of Money4Gold were rated “speculative buy” by Beacon Equity Research with a price target of $1.17. The company is seeing increased customer activity in recent months, which can only serve to bolster its bottom line. Money4Gold went public earlier this year and the company is poised to reap the benefits of further appreciation in the per-ounce price of gold.
The third quarter was the Money4Gold’s first as a public company and the company expects to report specific results for quarter in November. Money4Gold is also achieving payment acceptance rates of approximately 95 percent, indicating that Money4Gold’s payout percentages have been directly in line with or exceeding customer expectations. Money4Gold partners with Republic Metals Corp., one of the largest US gold refiners. Republic Metals also holds about 10 million Money4Gold shares according to recent data.
Shares of Money4Gold closed at 55 cents on Tuesday and have traded between 1 cent and $1.65 over the past 52 weeks. The company has a market value of $94.1 million. Shares of Money4Gold are also listed on the Berlin and Frankfurt exchanges in Germany, reflecting the company’s large international following.
About QualityStocks:
QualityStocks’ Small Cap Stock Newsletter is a free service that collects data from hundreds of Small-Cap online Investment Newsletters into one free Daily Newsletter Report.
Sign up for “The QualityStocks Daily Newsletter” please visit www.QualityStocks.net
The Quality Stocks Daily Stock Report http://video.qualitystocks.net
The Quality Stocks Daily Blog http://blog.qualitystocks.net
The Quality Stocks “Ones to Watch” http://Gotstocks.QualityStocks.net
Please see disclaimer on QualityStocks website: http://disclaimer.qualitystocks.net
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment