Elementis Executes Share Buyback to Optimize Capital Structure

Elementis ( (GB:ELM) ) has shared an update.

Elementis, a company involved in a share buyback program, has repurchased 250,000 of its own ordinary shares at an average price of 153.5352 pence per share. This transaction, conducted through Numis Securities Limited, is part of a broader strategy to manage the company’s share capital and potentially enhance shareholder value. The cancellation of these shares will adjust the total number of voting rights, impacting shareholder calculations under regulatory guidelines.

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 scores moderately due to strong corporate events and technical indicators, despite financial performance challenges. Strategic buyback programs and divestment actions indicate positive capital management, while technicals suggest bullish momentum. However, profitability issues and a negative P/E ratio limit the score.

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

More about Elementis

Average Trading Volume: 1,194,661

Technical Sentiment Signal: Strong Buy

Current Market Cap: £914M

For a thorough assessment of ELM stock, go to TipRanks’ Stock Analysis page.