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Mount Gibson Iron Limited ( (AU:MGX) ) just unveiled an update.
Mount Gibson Iron Limited has announced an extension of its on-market share buy-back program for another year, allowing the company to repurchase up to 10% of its issued shares until September 2026. Since the program’s inception in September 2024, the company has bought back 38.8 million shares, representing 3.2% of its issued share capital. The decision to extend the buy-back reflects the company’s strategic approach to managing its capital structure and enhancing shareholder value, though the extent and timing of future buy-backs will depend on market conditions.
The most recent analyst rating on (AU:MGX) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Mount Gibson Iron Limited stock, see the AU:MGX Stock Forecast page.
More about Mount Gibson Iron Limited
Mount Gibson Iron Limited is a company operating in the mining industry, primarily focused on the extraction and sale of iron ore. The company is based in Western Australia and is listed on the Australian Securities Exchange under the code MGX.
Average Trading Volume: 1,547,647
Technical Sentiment Signal: Hold
Current Market Cap: A$448.6M
Find detailed analytics on MGX stock on TipRanks’ Stock Analysis page.