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Petrus Resources Renews Share Repurchase Program

Story Highlights
  • Petrus Resources renews its share repurchase program to buy back up to 5% of its shares.
  • The company aims to enhance share value by repurchasing and canceling shares when undervalued.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Petrus Resources Renews Share Repurchase Program

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An update from Petrus Resources ( (TSE:PRQ) ) is now available.

Petrus Resources Ltd. has announced the renewal of its normal course issuer bid (NCIB), allowing the company to repurchase up to 6,448,237 common shares, representing 5% of its outstanding shares, over a twelve-month period starting June 30, 2025. This move is aimed at enhancing the value of its shares by repurchasing them when the market price does not reflect their underlying value, with the repurchased shares being cancelled. The company has also established an automatic share purchase plan to facilitate share repurchases during blackout periods, ensuring compliance with regulatory constraints.

Spark’s Take on TSE:PRQ Stock

According to Spark, TipRanks’ AI Analyst, TSE:PRQ is a Neutral.

Petrus Resources scores moderately due to a combination of stable financials, a strong dividend yield, and positive corporate events. However, the high P/E ratio indicates potential overvaluation, and the lack of significant growth in revenue and profitability metrics poses challenges. The company’s stable technical indicators and attractive dividend yield are positive factors.

To see Spark’s full report on TSE:PRQ stock, click here.

More about Petrus Resources

Petrus is a public Canadian oil and gas company focused on property exploitation, strategic acquisitions, and risk-managed exploration in Alberta.

Average Trading Volume: 33,310

Technical Sentiment Signal: Buy

Current Market Cap: C$176.7M

Learn more about PRQ stock on TipRanks’ Stock Analysis page.

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