US Global Invstr - GROW STOCK NEWS

U.S. Global Investors (Nasdaq: GROW) has announced a webcast scheduled for September 11, 2024, at 07:30 a.m. Central time to discuss the company's fiscal year 2024 results. The financial data for the quarter will be released before the webcast. Key participants in the webcast include CEO and Chief Investment Officer Frank Holmes, CFO Lisa Callicotte, and Director of Marketing Holly Schoenfeldt. This event provides an opportunity for investors and analysts to gain insights into the company's performance and future outlook directly from its leadership team.

U.S. Global Investors (NASDAQ: GROW) has announced the listing of its U.S. Global Jets ETF (NYSE: JETS) on the Colombian Securities Exchange. This expansion into Colombia follows previous listings in New York (2015), Peru (2020), and Mexico (2021). The move aims to capitalize on Colombia's strong post-pandemic tourism growth and the booming global travel sector.

Key points:

• JETS offers exposure to the $2 trillion tourism industry
• Colombia saw a 4% increase in international tourist arrivals between 2019-2022
• The global travel sector contributed 9% to the global economy in 2023
• JETS uses a quantitative approach for stock selection, including Latin American companies

U.S. Global Investors (NASDAQ: GROW) announces the continuation of its monthly dividends at $0.0075 per share from July to September 2024. The annualized yield is 3.46% based on the June 12, 2024 closing price of $2.60. The company has also significantly increased its share buybacks, purchasing 59,891 shares in May 2024, a 45% rise from the previous year. This move underscores the firm's commitment to shareholder value. Additionally, the surge in gold prices has boosted interest in U.S. Global Investors' gold-themed products. The International Air Transport Association (IATA) has upgraded profitability projections for airlines in 2024 to $30.5 billion, benefiting the company's airline-focused ETF. Elliot Management has also invested nearly $2 billion in Southwest Airlines, a top holding in U.S. Global Investors' ETF.

U.S. Global Investors, Inc. reported resilient results for the challenging March quarter, with operating revenues of $2.6 million. Despite a decrease in advisory fees, lower investment income, and AUM, the Company maintained a shareholder yield of 8.32%. Quarterly share repurchases increased 9.4% year-over-year. The merger of London-listed JETS with TRIP is expected to increase AUM fivefold, solidifying the Company's position in thematic investing. The surge in gold prices and central bank demand positively impact GOAU. The Company's healthy liquidity and capital resources position it well to meet obligations.

U.S. Global Investors announces the merger of its Europe-domiciled airlines ETF into the Travel UCITS ETF, expanding investment opportunities in the global travel industry. The Company acquired TRIP from HANetf, effective April 19, 2024.

U.S. Global Investors, Inc. (NASDAQ: GROW) announces a significant increase in share repurchases, with 102,636 shares bought in February 2024 at a net cost of $281,000. The Board also raised the buyback program limit to $5 million, showing confidence in the company's future. Monthly dividends of $0.0075 per share are approved from April to June 2024, offering a 3.45% yield. The company achieved a total shareholder yield of 7.9% in 2023. Additionally, gold prices hit a new all-time high, benefiting the gold mining industry. U.S. Global Investors' smart beta thematic funds focus on gold-related investments, emphasizing a quantitative approach to screening companies.

U.S. Global Investors, Inc. (NASDAQ: GROW) reported a 45% increase in net income, reaching $1.2 million, or $0.09 per share, in the quarter ended December 31, 2023, compared to a net loss of $176,000 in the previous quarter. The growth in net income was due to a significant increase in net investment income, which was $1.4 million, compared to $116,000 for the same period a year earlier. Operating revenues were $2.8 million, and total assets under management (AUM) at quarter end were $2.1 billion, down from AUM of $2.4 billion a year ago. The decline in assets was driven by the U.S. Global Jets ETF (NYSE: JETS), which saw net outflows in 2023 as many foreign investors cut their exposure to ETFs due to fear of a global recession. The company continues to strengthen the economic moat around its ETF offerings, JETS and the U.S. Global GO GOLD and Precious Metal Miners ETF (NYSE: GOAU), and had net working capital of approximately $38.3 million as of December 31, 2023, with approximately $27.5 million in cash and cash equivalents.

Stonegate Capital Partners updates their coverage on U.S. Global Investors, Inc., highlighting a 359% increase in 1Q24 stock repurchases compared to 1Q23, $1.8 billion in assets under management as of September 2023, and strong cash reserves of $27 million with no debt.

U.S. Global Investors, Inc. (NASDAQ: GROW) announced the repurchase of 93,907 shares in December 2023 at a net cost of almost $272,000. The CEO, Frank Holmes, highlighted the undervaluation of the stock and the benefits of share buybacks. Additionally, the U.S. Global GO GOLD and Precious Metal Miners ETF (NYSE: GOAU) ended 2023 in the top decile among 69 Equity Precious Metals funds, showcasing strong performance relative to its peers.