First Majestic Initiates Major Share Buyback

First Majestic Silver (TSE:AG) has released an update.

First Majestic Silver Corp. has launched a Share Repurchase Program, approved by the Toronto Stock Exchange, to buy back up to 10 million shares, representing about 3.32% of its outstanding shares, over the next year. The move is aimed at increasing shareholder value, suggesting the company believes its stock is undervalued. The repurchased shares will be cancelled, potentially benefiting all shareholders by boosting their relative equity in the mining company.

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