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Drax Group Advances Share Buyback Programme with Latest Purchase

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Drax Group Advances Share Buyback Programme with Latest Purchase

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Drax Group plc ( (GB:DRX) ) has shared an update.

Drax Group plc has executed a share buyback transaction, purchasing 150,000 of its ordinary shares at a weighted average price of 614.57 pence per share. This move is part of its ongoing share buyback programme announced in August 2024, and it impacts the total number of voting rights available to shareholders, potentially affecting their notification obligations under the FCA’s rules.

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 scores well due to robust financial performance, especially in cash generation and profitability, and attractive valuation metrics. The company’s strategic initiatives, including share buybacks and dividend increases, enhance shareholder value. However, challenges like inconsistent revenue growth and regulatory uncertainties temper the outlook. Technical indicators suggest cautious optimism, with potential resistance at current levels.

To see Spark’s full report on GB:DRX stock, click here.

More about Drax Group plc

Drax Group plc operates in the energy sector, primarily focusing on renewable energy solutions. The company is known for its biomass-fueled power generation and is a key player in the transition to sustainable energy sources.

Average Trading Volume: 1,604,058

Technical Sentiment Signal: Buy

Current Market Cap: £2.17B

See more insights into DRX stock on TipRanks’ Stock Analysis page.

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