Post by
SportyJ on Mar 06, 2024 8:57pm
NCIB
Per Sedi, FEC bought back 152,600 shares in February.
So the latest NCIB cumulative shares bought back stands at 585,700 (November 21, 2023 - February 29, 2024).
They continue to buy back less than 1/2 the shares authorized. No way they buy back almost 4 million shares (10% of the float) at this rate.
These buybacks are better than nothing. But management really needs to explain why they are not buying the maximum shares allowed under the NCIB. Maybe there's a good reason.
However, if management really believes the market is undervaluing it's share price; one darn good way to instill investor confidence is to max out the share buyback.
Any analyst listening?
All imo