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Elementis ( (GB:ELM) ) has issued an update.
Elementis, a company involved in the share buyback programme, has repurchased 250,000 of its own ordinary shares at an average price of 163.3546 pence per share. This transaction, executed through Numis Securities Limited, is part of a strategic move to manage its share capital effectively. Following the cancellation of these shares, the total number of voting rights in the company is now 588,097,814. This buyback could potentially impact shareholder value and market perception, as it reflects the company’s confidence in its financial stability and future prospects.
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 benefits from strong technical indicators and strategic corporate actions like share buybacks and business divestments. However, financial performance is mixed, with profitability concerns overshadowing positive cash flow. The valuation remains challenged by negative earnings, but strategic focus and market sentiment provide potential upside.
To see Spark’s full report on GB:ELM stock, click here.
More about Elementis
Average Trading Volume: 1,329,714
Technical Sentiment Signal: Buy
Current Market Cap: £943.3M
See more insights into ELM stock on TipRanks’ Stock Analysis page.