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Elementis ( (GB:ELM) ) just unveiled an update.
Elementis, a company operating in the specialty chemicals sector, announced the repurchase of 250,000 of its own ordinary shares as part of its ongoing share buyback program. The shares were bought at an average price of 169.2837 pence per share and will be canceled, reducing the total number of shares in issue to 587,347,814. This move is part of Elementis’s strategy to manage its capital structure and potentially enhance shareholder value, reflecting a focus on optimizing financial operations and strengthening its market position.
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’ stock score is primarily influenced by its mixed financial performance, with strong cash flow generation but ongoing profitability challenges. The technical analysis shows a bullish trend, but caution is advised due to overbought indicators. Valuation remains a concern, given the negative P/E ratio. The active share buyback program signals confidence but does not directly influence the score due to the exclusion of earnings call data.
To see Spark’s full report on GB:ELM stock, click here.
More about Elementis
Average Trading Volume: 1,358,340
Technical Sentiment Signal: Buy
Current Market Cap: £990.2M
For detailed information about ELM stock, go to TipRanks’ Stock Analysis page.