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Elementis ( (GB:ELM) ) just unveiled an announcement.
Elementis, a company involved in specialty chemicals, announced the purchase of 250,000 of its own ordinary shares as part of a share buyback program. This transaction, executed through Numis Securities Limited, was completed at an average price of 169.4104 pence per share. The move is part of Elementis’s strategy to manage its capital structure and potentially enhance shareholder value. Following this transaction, the total number of voting rights in the company will be 584,097,814, which stakeholders can use to assess their interest in the company.
The most recent analyst rating on (GB:ELM) stock is a Buy with a £190.00 price target. To see the full list of analyst forecasts on Elementis stock, see the GB:ELM Stock Forecast page.
Spark’s Take on GB:ELM Stock
According to Spark, TipRanks’ AI Analyst, GB:ELM is a Neutral.
Elementis’ overall score is driven by strong technical analysis and positive corporate events, such as share buybacks. However, ongoing profitability challenges reflected in the financial performance and valuation metrics weigh down the score. The strategic focus on enhancing shareholder value through buybacks and operational improvements is a positive signal for future prospects.
To see Spark’s full report on GB:ELM stock, click here.
More about Elementis
Average Trading Volume: 1,424,456
Technical Sentiment Signal: Buy
Current Market Cap: £982.4M
Learn more about ELM stock on TipRanks’ Stock Analysis page.