US Global Invstr Stock Price, News & Analysis

In December 2022, U.S. Global Investors, Inc. (GROW) significantly ramped up its share buyback program, repurchasing 46,186 shares, marking a staggering 806% increase from the previous year. This net cost of approximately $128,700 represents a 441% rise from December 2021. The Board of Directors modified the buyback strategy, allowing purchases when share prices are flat or declining. CEO Frank Holmes expressed optimism for 2023, citing improved economic indicators and strong performance in gold mining equities and airline ETFs, bolstered by China's reopening policies that favor luxury retail spending.

On December 21, 2022, U.S. Global Investors, Inc. (GROW) announced the selection of Grant Thornton LLP as its new independent registered public accounting firm, a move approved by the Board of Directors. In November, the Company repurchased 24,795 shares for approximately $73,600, marking a 25% increase from the previous month and a 625% increase from November 2021. Additionally, the Board approved a stock repurchase program allowing up to $5 million annually and modified its purchasing algorithm. A monthly dividend of $0.0075 per share was also authorized, continuing through March 2023.

U.S. Global Investors (NASDAQ: GROW) reported operating income of $1.6 million for Q1 2023, with total revenues of $4.4 million, yielding an operating margin of 36%. However, average assets under management (AUM) fell to $2.9 billion, a decrease of approximately $1 billion year-over-year. The firm experienced net income of $118,000, or $0.01 per share. The company maintains strong liquidity with $34.6 million in net working capital and $23.3 million in cash. Despite industry headwinds, it repurchased 39,965 shares, a 192% increase from the previous year, indicating confidence in stock valuation.

U.S. Global Investors (GROW) announced significant share repurchases in October 2022, buying back 16,426 shares for approximately $47,000, marking a 744% increase from the previous year. This buyback is part of an increased program limit from $2.75 million to $5 million per year, aiming to capitalize on perceived undervaluation. Additionally, the company confirmed a monthly dividend of $0.0075 per share, reflecting a 3.10% annual yield based on the October 31 closing price of $2.90. Future dividends will depend on financial performance and board discretion.

U.S. Global Investors (NASDAQ: GROW) shared its participation in upcoming events as part of its corporate communications. The Company is set to present at the IMPACT 2022 conference from November 1 in Denver, highlighting its mutual funds and ETFs, including the U.S. Global Jets ETF. Additionally, a webinar on December 12 will delve into the investment case for the U.S. Global GO GOLD and Precious Metal Miners ETF (GOAU). Despite the current pressure on gold prices, demand for gold coins is strong, with U.S. Mint sales hitting a 22-year high, indicating robust investor interest.

U.S. Global Investors, Inc. (GROW) announced an amendment to its dividend schedule, adjusting the record date for October to October 17 and the payment date to October 31. The dividend dates for November and December remain unchanged, with record dates set for November 14 and December 12, and payment on November 28 and December 27. The Board of Directors will determine future dividends based on financial performance and other critical factors.

U.S. Global Investors, Inc. (GROW) announced significant developments in its stock repurchase and dividend programs. In September 2022, the company repurchased 31,687 shares for approximately $99,000, marking a 670% increase year-over-year. The quarterly buyback totaled just under 40,000 shares, a 193% rise from 2021. A monthly dividend of $0.0075 per share was authorized, yielding 3.14% annually based on the September 30 closing price of $2.87. These strategic moves reflect the company's belief in the undervaluation of its stock amid a challenging market environment.

U.S. Global Investors, Inc. (GROW) announces an increase in its stock buyback program limit from $2.75 million to $5 million. In August 2022, the company repurchased 2,381 shares for approximately $9,380, significantly down from 4,330 shares the previous year due to reduced volatility. Additionally, a monthly dividend of $0.0075 per share continues through September 2022, providing a 2.47% annualized yield based on a $3.65 share price. Future dividends will depend on the company’s financial performance and other factors.

U.S. Global Investors (NASDAQ: GROW) reported a fiscal year ending June 30, 2022, with total operating revenues of $24.7 million, a 14% increase YOY. Operating income rose to $11.1 million, a 36% increase, and operating margin improved to 45%. However, net income fell to $5.5 million or $0.37 per share, down significantly from $32 million or $2.12 per share a year prior, primarily due to mark-to-market volatility. Average assets under management were $3.9 billion, while total AUM declined to $2.9 billion.