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GROW / US Global Investors: a resources focus

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GROW / US Global Investors: a resources focus

From DrBubb's Diary

GROW ... AllData (updated 12/09/2015)



4 years out of 5, there was a Jan. Pop in Grow - Will it make 5 yrs out of 6 ?


GROW vs. GDX ... update - $1.16 versus GDX-$14.38 : 8.07% > Can it rise back to 12-16%?




$1.14 x 13.24mn shares = $17.45 million - at 12/11/2015
$0.03 div. / $1.14 = 2.35% Yield
Book Value : $1.75 (66%)-- Cash per sh.: $1.28
Earnings/sh: ($0.31)


> Yahoo Profile : https://uk.finance.yahoo.com/q/ks?s=GROW


Time to (go to) GROW once again ?

U.S. Global Investors Inc. Cl A (NASDAQ) ... update


SAN ANTONIO, Jan 31, 2013 (BUSINESS WIRE) -- U.S. Global Investors, Inc. GROW +9.81% will host a webcast on Thursday, February 7, 2013, at 7:30 a.m. Central time to discuss the company's earnings for the quarter ended December 31, 2012.
Financial data for the quarter will be released prior to the webcast.
Frank Holmes, CEO and chief investment officer; Susan McGee, president and general counsel; and Catherine Rademacher, chief financial officer, will participate in the webcast.

Click here to register for the earnings webcast or visit www.usfunds.com for more information. The earnings presentation can also be accessed by dialing 1(866) 436-9172. The confirmation number is 34195268. Please dial in at least 5 minutes prior to the start of the call.

About U.S. Global Investors, Inc. (GROW).
U.S. Global Investors, Inc. ( www.usfunds.com ) is a registered investment adviser that focuses on profitable niche markets around the world. Headquartered in San Antonio, Texas, the company provides advisory, transfer agency and other services to U.S. Global Investors Funds and other clients.

The stock Jumped yesterday.

GROW : $4.03 +0.36
Open: 3.76 / High: 4.05 / Low: 3.76
Volume: 83,267
Percent Change: +9.81%

Frank Holmes- Interview: http://www.usfunds.c...n/#.URIKvKU0WSo
"Stop redeeming stock funds, especially resource funds."
"People are selling Juniors to buy etfs."

GROW, Long term chart

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2013 should be much better than 2012, Holmes believes




"Instead of 10-15% annual increases in Gold production, the average has been -2%"

"Gold miners have issue stock options faster than they have increased gold production."


Too many juniors?

"They are needed to add gold production... but need more discipline."

"Hedge Fund contraction has been a big problem."

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"Sunnier Days" : Best months ahead for Energy?


There's a chart in this presentation showing monthly returns (S&P 500 Energy index, 1989-2012):


Jan. is generally a down month, but that's followed by a usual strong performance in Feb-May, where the monthly returns average about 2%, or more than 8% for the four months.

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  • 2 years later...

Chart update


GROW / US Global ... All : 5-yrs : 3-yrs : 10d / GROW-vs-GDX






Ratio: GROW-to-GDX



Q1-2016 Webcast notes : http://www.usfunds.com/media/files/pdfs/webcast/earningswebcasts/2016-earnings/Q1-2016-GROW-Webcast.pdf

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GROW - vs GDX, UGL, SLV ... 2-years : 3yr : 4yr : 5yr // $1.16 Unch




4 years out of 5, there was a Jan. Pop in Grow - Will it make 5 yrs out of 6 ?


GROW vs. GDX ... update - $1.16 versus GDX-$14.38 : 8.07% > Can it rise back to 12-16%?



$1.14 x 13.24mn shares = $17.45 million - at 12/11/2015
$0.03 div. / $1.14 = 2.35% Yield
Book Value : $1.75 (66%)-- Cash per sh.: $1.28
Earnings/sh: ($0.31)

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  • 9 months later...

GROW is in a downstroke right now


GROW vs- GDX ... update


Market Cap (intraday)--------------: 29.91m
Enterprise Value (17 Sep 2016)3: 15.81m
Fiscal Year Ends: 30 Jun
Most Recent Quarter (mrq): 30 Jun 2016
Current Ratio (mrq): 13.98
Book Value Per Share (mrq): $1.61
Operating Cash Flow (ttm): 3.03m
Levered Free Cash Flow (ttm): -4.46m
Revenue (ttm): 5.51m
Revenue Per Share (ttm): 0.36
Qtrly Revenue Growth (yoy): 12.20%
Gross Profit (ttm): 9.37m
EBITDA (ttm)6: -3.86m
Net Income Avl to Common (ttm): -3.66m
Diluted EPS (ttm): -0.24
> https://uk.finance.yahoo.com/q/ks?s=GROW

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U.S. Global Investors Reports Financial Results for Fiscal Year 2016

September 14, 2016

Continuing Dividends and Share Repurchase Program

SAN ANTONIO–September 14, 2016U.S. Global Investors, Inc. (NASDAQ: GROW), a boutique registered investment advisory firm with longstanding experience in global markets and specialized sectors, today reported a net loss of $3.7 million, or $(0.24) per share, on operating revenues of $5.5 million for the fiscal year ended June 30, 2016. For the fiscal year 2015, U.S. Global Investors recorded a net loss of $4.0 million, or $(0.26) per share, on operating revenues of $7.3 million. In the fourth quarter of fiscal year 2016, the company had a net loss of $245,000, or $(0.02) per share, on operating revenues of $1.6 million.

On June 30, 2016, total assets under management as of period end were $883 million compared to $792 million on June 30, 2015, an increase of 11 percent. The increase in total assets under management was primarily due to market appreciation in mutual funds, the offshore funds and growth of the U.S Global Jets ETF, and somewhat offset by decreases in assets of the Galileo Funds and other Canadian advisory clients. During fiscal 2016, U.S. Global Investors’ average assets under management were $744 million, compared to $931 million in fiscal 2015.

“We’re pleased to report that we are now seeing an increase in assets under management and revenue,” says Frank Holmes, CEO and chief investment officer of U.S. Global Investors. “Over the last three years, the company’s assets and associated revenue declined due to challenges in resources and emerging markets investments. In the third quarter of this fiscal year, the trend started to reverse, and we are now seeing an increase in assets and revenue as a result. The average assets under management for the fourth quarter of fiscal 2016 were $836 million.

“This trend is also positively affecting our net loss,” Holmes continues. “The steps that the company has taken to reduce costs has resulted in an improvement in net loss, starting in the third quarter and continuing in the fourth quarter.”

Growth Strategy to Build Innovative and Dynamic ETF Product Line

The company intends to expand its ETF product line in 2016. The U.S. Global Jets ETF (NYSE: JETS), the company’s first ETF, reached its one-year anniversary in April 2016, and continues to attract attention within the ETF industry. “U.S. Global is an innovative investment manager with a longstanding history. We will build upon our expertise as active managers in the resource and emerging markets sectors to create robust, rules-based smart-beta ETFs that leverage our knowledge and understanding of the factors that can identify stocks with long-term growth potential,” says Holmes. “ETFs have a lower fee structure than mutual funds, since they do not have the same 12b-1 distribution fees or transfer agency expenses. This lower fee structure makes them attractive to investors,” continues Holmes.

Streamlining for Greater Efficiencies

In the second fiscal quarter, the shareholders of the U.S. Global Investors Funds (the Funds) held a special meeting and approved the election of new trustees for the funds. This action, which the company endorsed, resulted in the Funds becoming part of the family of funds that receive administrative, fund accounting and/or transfer agency services from Atlantic Fund Services. The primary reason behind this initiative was to streamline costs to positively impact both the Fund shareholders and GROW shareholders. When this transition is completed in December 2017, the Fund shareholders and GROW shareholders should fully realize the economies of scale expected as a result of this transition.

“This partnership with Atlantic is a win-win for Fund shareholders and GROW shareholders, as it eliminates many expensive administrative and operational duties for the company and allows our streamlined team of highly skilled professionals to focus on improving mutual fund performance and building our growth strategy,” says Frank Holmes, CEO of U.S. Global Investors, Inc.

Gold and Municipal Bond Funds Performing for Shareholders

UBS noted recently that gold has “entered a new bull run.” The precious metal had a spectacular first half of the year, with total global demand reaching the second-highest on record, according to the World Gold Council. The company’s gold equity mutual funds have benefited from this rally. As of August 31, 2016, the Gold and Precious Metals Fund (USERX) is up 84 percent year to date, and the World Precious Minerals Fund is up 129 percent.

Past performance does not guarantee future results. Current performance may be higher or lower than the performance data quoted. The principal value and investment return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost.

The company’s Gold and Precious Metals Fund (USERX) has earned the 4-star Morningstar Overall rating through June 30, 2016, based on risk-adjusted returns out of 71 funds in the Equity Precious Metals funds category. In addition, the World Precious Minerals Fund (UNWPX) earned Morningstar’s 5-star rating for the three-year period as of June 30, 2016, based on risk-adjusted returns out of 71 Equity Precious Metals funds.*

In addition to these positive results, the company’s municipal bond fund has performed well for shareholders. “Out of 31,306 equity and bond mutual funds, only 39 of them have had positive returns for 21 years in a row, and our Near-Term Tax Free Fund (NEARX) is one of the few. This fund has provided investors and financial advisors with steady performance, through bull and bear markets and rising and falling interest rate environments,” says Holmes. The fund has earned the 4-star Morningstar Overall rating, through June 30, 2016, based on risk-adjusted returns out of 190 Municipal National Short-Term funds.

Share Repurchase Program

U.S. Global Investors has continued purchasing its outstanding stock. Since the program began in January 2013, the company has purchased a total of 421,652 class A shares through June 30, 2016, using cash of approximately $1,067,000. The company uses an algorithm to purchase shares on down days, following the rules and regulations that restrict the amounts and times when shares can be purchased on any given day. The share repurchase plan expires at the end of the calendar year 2016, but may be suspended or discontinued at any time.

Continued Strong Balance Sheet

The company had net working capital of approximately $16.9 million at the end of fiscal year 2016. With approximately $4.0 million cash and cash equivalents and $13.6 million in securities recorded at fair value, which together comprise approximately 67 percent of total assets, U.S. Global Investors has adequate liquidity to meet its current obligations. The company has had no long-term debt since 2004 and owns its headquarters building.


> More & Incl. B/S and P&L's : http://www.usfunds.com/about-us/investor-relations/press-releases/us-global-investors-reports-financial-results-for-fiscal-year-2016/

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