Magellan Aerospace Corp T.MAL

Shares buy back

[Mike66]

MAGELLAN AEROSPACE ANNOUNCES NORMAL COURSE ISSUER BID

The Toronto Stock Exchange has approved Magellan Aerospace Corp.'s notice of intention to make a normal course issuer bid to purchase for cancellation, from time to time, as it considers advisable, up to 2,910,450 of the corporation's issued and outstanding common shares, being 5 per cent of the 58,209,001 shares outstanding as of May 25, 2020.

[kijiji]

Nice!   finally a rally!  

[Mike66]

Wow, what a run today!! Up 25%. 

[challenger426]

Absolutely, great to see the rally.  I'm so glad I bought MAL just under $6 and will probably hold it until it gets back into the last 5 years trading range between $13 and $20 per share before the Covid-19 pandemic hit.  The book value for MAL is $14.70/share and at $6 was a no brainer so the company decided to buy back shares. Decent numbers: Annual SalesC$985.15 million

[Bookends]

Nice catch, it's been trailing down since you post, but you've got it with a good margin of safety... What have you been buying this last while?