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Drax Group plc ( (GB:DRX) ) has issued an announcement.
Drax Group plc announced the purchase of 273,382 of its own ordinary shares as part of its ongoing share buyback program initiated in August 2024. The transaction, executed through J.P. Morgan Securities plc on the London Stock Exchange, reflects the company’s strategic efforts to manage its capital structure and enhance shareholder value. Following this transaction, Drax Group’s total number of shares in issue stands at 431,483,545, with 79,365,969 held in treasury, impacting the total voting rights available to shareholders.
The most recent analyst rating on (GB:DRX) stock is a Buy with a £7.50 price target. To see the full list of analyst forecasts on Drax Group plc stock, see the GB:DRX Stock Forecast page.
Spark’s Take on GB:DRX Stock
According to Spark, TipRanks’ AI Analyst, GB:DRX is a Outperform.
Drax Group plc demonstrates strong financial performance and technical indicators, supported by a low valuation and strategic corporate actions. The bullish momentum, enhanced shareholder returns, and attractive valuation underpin a favorable outlook, although challenges like regulatory uncertainties remain.
To see Spark’s full report on GB:DRX stock, click here.
More about Drax Group plc
Drax Group plc is a prominent player in the energy sector, primarily focusing on renewable energy generation and biomass power production. The company is committed to sustainable energy solutions and operates within the UK market, aiming to reduce carbon emissions and promote clean energy initiatives.
Average Trading Volume: 1,455,859
Technical Sentiment Signal: Buy
Current Market Cap: £2.35B
For an in-depth examination of DRX stock, go to TipRanks’ Overview page.