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Drax Group plc ( (GB:DRX) ) has shared an announcement.
Drax Group plc has announced a transaction involving the purchase of its own shares as part of a share buyback program initiated in August 2024. The company acquired 69,300 ordinary shares on the London Stock Exchange, with prices ranging from 690.5 to 700 pence per share. Following this transaction, Drax Group has a total of 431,853,684 ordinary shares in issue, including treasury shares, and 347,824,891 voting rights excluding treasury shares. This move is part of a larger strategy to manage the company’s capital structure and potentially enhance shareholder value.
The most recent analyst rating on (GB:DRX) stock is a Buy with a £793.00 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 strong financial performance, positive technical indicators, and attractive valuation drive the overall score. The earnings call further supports the positive outlook with strategic growth plans, despite some market challenges.
To see Spark’s full report on GB:DRX stock, click here.
More about Drax Group plc
Average Trading Volume: 1,360,216
Technical Sentiment Signal: Buy
Current Market Cap: £2.41B
Learn more about DRX stock on TipRanks’ Stock Analysis page.