Agnico Eagle Gets TSX Green Light to Buy Back 5% of Public Float
By Adriano Marchese
Agnico Eagle Mines Ltd. said Tuesday that it intends to renew its share repurchase program to buy back up to 5% of its issued and outstanding common shares over the course of a year.
The dual-listed Canadian miner said the Toronto Stock Exchange gave its approval for it to repurchase up to 24.7 million common shares by way of a normal course issuer bid beginning May 5.
Agnico Eagle's stock has risen about 7.7% over the course of 2023, reaching 75.76 Canadian dollars ($55.93) at close on Monday. Over the course of the last 12 months, the shares have risen 2.3%.
At Monday's closing price, the value of the shares intended for buyback would be worth about C$1.87 billion.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
May 02, 2023 08:35 ET (12:35 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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