Post by
NewAgeMetal on Jun 10, 2022 12:20pm
Stock Buy Back
Load up boys
I don't know if I agree with parting with 30M, given what's on the horizon in terms of macro fundamentals but a buyer of 50-100,000 shares on days like this might help slow thr fall
Comment by
ceetong on Jun 10, 2022 1:22pm
They can't. They are limited to ~24.5k shares per day and they can not buy on an up-tick. Also, they can not buy at the open or during the last half-hour of trading.
Comment by
kha341 on Jun 10, 2022 4:17pm
I have a feeling that there was some buyback done today. Via which broker would Largo do the buyback? Would it be done under "anonymous"?
Comment by
ceetong on Jun 11, 2022 3:13am
The company has to report its purchases to TMX on a monthly basis and you can buy that data from TMX: https://www.tmxwebstore.com/products/tsx-ncib
Comment by
ceetong on Jun 11, 2022 3:18am
Check out sections 628 and 629. TSX Company Manual
Comment by
Clipper2 on Jun 11, 2022 8:05am
Thanks ceetong. According to Investopedia. How are share buybacks accounted for? Companies generally specify the amount spent on share repurchases in their quarterly earnings reports. You also may get the amount spent on share buybacks from the statement of cash flows in the financing activities section, and from the statement of changes in equity or statement of retained earnings.
Comment by
kha341 on Jun 11, 2022 2:21pm
Clipper, You are right. It’s obvious that share buyback is not a secret. It’s public information. The repurchased shares are reported separately and called “treasury stock”. Btw, the questions I asked (“Via which broker would Largo do the buyback? Would it be done under "anonymous"?) were about “real time”, 15-minute delay or on the same day it happens.