BuybackMay 28, 2026, 02:43 PM
Hudbay Minerals Approved for NCIB to Buy Back 5% of Shares
AI Summary
Hudbay Minerals Inc. announced that the Toronto Stock Exchange has approved its normal course issuer bid (NCIB). The company is authorized to repurchase up to 19,863,997 common shares, which represents 5% of its issued and outstanding shares as of May 21, 2026. The NCIB will commence on June 1, 2026, and conclude on May 31, 2027, with purchases funded from cash flow from operations and shares cancelled upon acquisition. Hudbay believes the market price of its shares may not fully reflect their underlying value, making repurchases a desirable use of capital and in the best interest of shareholders.
Key Highlights
- Hudbay Minerals received TSX approval for a Normal Course Issuer Bid (NCIB).
- Authorized to acquire up to 19,863,997 common shares, representing 5% of outstanding shares.
- The NCIB will run for 12 months, from June 1, 2026, to May 31, 2027.
- Purchases will be made on the open market via TSX, NYSE, and other Canadian trading systems.
- Daily maximum purchase is 469,604 shares, with an allowance for one block purchase per week.
- Shares purchased under the NCIB will be cancelled and funded from cash flow from operations.
- The previous 2025 NCIB, authorizing 19,751,983 shares, expires May 29, 2026, with no shares purchased.
Price Impact
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