Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
The latest update is out from Elementis ( (GB:ELM) ).
Elementis, a specialty chemicals company, announced the purchase of 150,000 of its own ordinary shares as part of its ongoing share buyback program. This transaction, executed through Numis Securities Limited, was completed at an average price of 167.2789 pence per share. Following this purchase, the total number of ordinary shares in issue will be 581,553,433, with 6,469 shares held in treasury. This move is part of Elementis’s strategy to optimize its capital structure and potentially enhance shareholder value.
The most recent analyst rating on (GB:ELM) stock is a Buy with a £170.00 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 stock score is driven by strong corporate actions, including a significant share buyback program and strategic refocusing on core operations, which enhance shareholder value. However, financial performance is mixed with profitability concerns, and valuation metrics are challenged by negative earnings. Technical indicators suggest a positive trend, supporting the stock’s potential for growth.
To see Spark’s full report on GB:ELM stock, click here.
More about Elementis
Average Trading Volume: 1,448,919
Technical Sentiment Signal: Buy
Current Market Cap: £971M
Learn more about ELM stock on TipRanks’ Stock Analysis page.