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Drax Group plc ( (GB:DRX) ) has shared an announcement.
Drax Group plc announced the purchase of 64,465 of its ordinary shares as part of its ongoing share buyback program. This transaction, conducted through J.P. Morgan Securities plc, is part of a broader strategy to manage its capital structure and return value to shareholders. The buyback program, initiated in August 2024, has seen the company acquire a total of 43,781,706 shares for treasury, impacting the total voting rights and share distribution within the company.
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’s overall stock score is driven by strong financial performance and valuation metrics, supported by strategic initiatives highlighted in the earnings call. Technical indicators suggest a neutral market sentiment, while corporate events like the share buyback program further enhance shareholder value.
To see Spark’s full report on GB:DRX stock, click here.
More about Drax Group plc
Drax Group plc is a British energy company primarily focused on renewable energy generation, biomass production, and energy services. The company operates in the energy sector and is committed to reducing carbon emissions through sustainable energy solutions.
Average Trading Volume: 1,361,281
Technical Sentiment Signal: Buy
Current Market Cap: £2.38B
For an in-depth examination of DRX stock, go to TipRanks’ Overview page.