Journey Energy (TSE:JOY) has released an update.
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Journey Energy Inc. has been greenlit by the Toronto Stock Exchange to buy back up to 10% of its public float, amounting to 4,666,445 common shares, over the next year with the goal of enhancing shareholder value. The share repurchase program is seen as a strategic use of the company’s funds, reflecting the board’s belief that the current share price does not fully capture the company’s intrinsic value.
For further insights into TSE:JOY stock, check out TipRanks’ Stock Analysis page.