Fortuna reports progress on its share buyback program
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Fortuna Mining Corp. has repurchased 6,402,640 common shares on the NYSE as part of its share buyback program, at an average price of $4.77 per share, totaling $30.53 million. This represents 41.88% of the authorized shares for repurchase.
December 03, 2024 | 10:15 am
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Fortuna Mining Corp. has repurchased 6,402,640 shares at an average price of $4.77, totaling $30.53 million. This buyback represents 41.88% of the authorized shares under its NCIB.
The share buyback reduces the number of outstanding shares, potentially increasing the value of remaining shares and signaling management's confidence in the company. This is likely to have a positive short-term impact on FSM's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100