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Elementis ( (GB:ELM) ) just unveiled an update.
Elementis plc, a company engaged in a share buyback programme, has announced the repurchase of 14,813 of its own ordinary shares at an average price of 166.1023 pence per share. This transaction is part of a previously announced buyback initiative aimed at reducing the number of shares in circulation, thereby potentially increasing the value of remaining shares. Following this purchase, the total number of shares in issue will be 570,023,598, with 131,433 shares held in treasury, impacting the voting rights and shareholding calculations for stakeholders.
The most recent analyst rating on (GB:ELM) stock is a Hold with a £178.00 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’s overall stock score is driven by strong technical momentum and positive corporate actions like share buybacks and strategic acquisitions. However, financial performance is mixed with strong cash flow but persistent profitability issues, and valuation metrics are weak due to negative earnings.
To see Spark’s full report on GB:ELM stock, click here.
More about Elementis
Average Trading Volume: 1,057,703
Technical Sentiment Signal: Strong Buy
Current Market Cap: £949.4M
For a thorough assessment of ELM stock, go to TipRanks’ Stock Analysis page.