The company will repurchase up to 14.4 million shares, representing roughly 5% of its outstanding stock.
Almonty Industries (ALM) announced board approval for a new share repurchase program, authorizing the buyback of up to 14.4 million common shares for a total of $300 million. The move targets approximately 5% of the company’s outstanding shares.
The program follows no prior recent buyback announcements from the company. Share repurchases are often used to return value to shareholders or signal confidence in future performance.
Shares of ALM rose 5% following the news, reflecting investor reaction to the capital allocation decision.