GlobeNewsWire
26 Jun 2026, 01:00 UTC · 3h ago
Petrus Resources Announces Renewal of Normal Course Issuer Bid
NewsImpactScreener rates every claim in this story for market impact and maps it to the tickers most exposed.
GlobeNewsWire
26 Jun 2026, 01:00 UTC · 3h ago
NewsImpactScreener rates every claim in this story for market impact and maps it to the tickers most exposed.
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Petrus Resources Ltd. has received TSX approval to renew its normal course issuer bid (NCIB) to repurchase up to 7,424,183 common shares (5% of outstanding shares) over the next twelve months. — Share buybacks reduce supply and signal management's belief that the stock is undervalued, which typically provides upward pressure on the share price.
+0.40Under its previous NCIB ending June 29, 2026, Petrus repurchased only 65,900 common shares at an average price of $1.48. — The extremely low execution rate of the previous program suggests that management may not actually find the shares attractive enough to buy aggressively.
-0.20The company established an automatic share purchase plan (ASPP) to allow repurchases to continue during regulatory or self-imposed blackout periods. — This ensures more consistent buying pressure and reduces the likelihood of gaps in repurchase activity.
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The company is renewing its share repurchase program to enhance per-share metrics and is continuing to pay monthly dividends.
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