Parex Resources Inc T.PXT

Looks like I'm mistaken about how fast shares are being

[CrazyTrader]

bought back..... I found this from 2023 Q4 AFI...  

"Normal Course Issuer Bid On January 4, 2022, the Company commenced an NCIB to purchase for cancellation up to a maximum of 11,820,533 Common Shares on the open market through the facilities of the TSX and/or alternative trading systems. The Company entered into an automatic share purchase plan with a broker to facilitate repurchases of Common Shares pursuant to the Company's NCIB. Parex purchased for cancellation the maximum number of Common Shares under the NCIB and the NCIB formally terminated on January 3, 2023. On January 4, 2023, the Company commenced an NCIB to purchase for cancellation up to a maximum of 10,675,555 Common Shares on the open market through the facilities of the TSX and/or alternative trading systems. The Company entered into an automatic share purchase plan with a broker to facilitate repurchases of Common Shares pursuant to the Company's NCIB. Parex purchased for cancellation the maximum number of Common Shares under the NCIB and the NCIB formally terminated on January 3, 2024. On January 22, 2024, the Company commenced an NCIB to purchase for cancellation, from time to time, as it considers advisable up to a maximum of 10,198,838 Common Shares on the open market through the facilities of the TSX and/or alternative trading systems. The NCIB will terminate on January 21, 2025. The Company also entered into an automatic share purchase plan with a broker to facilitate repurchases of Common Shares pursuant to the Company's NCIB. Under the Company’s automatic share purchase plan, the Company’s broker may repurchase Common Shares under the NCIB during the Company’s self-imposed blackout periods. The Company has repurchased approximately $0.5 million shares to date in 2024 at an average price of Cdn$21.88 per share, for total consideration of Cdn$11.8 million under the current NCIB."

From 2024 Q3.....

"For the year ended December 31, 2023, the Company repurchased 5,628,100 common shares pursuant to its Normal Course Issuer Bid at a cost of $105.1 million (average cost per share of Cdn$25.16). The cost to repurchase common shares at a price in excess of their average book value has been charged to retained earnings."


There seems to be a discrepency between the reports.   Which is it, 10 Million or 5 Million????

I also though I saw in a presentation share count going from ~160M to like ~100M in just few years.

[traderlong2]

Hi Crazytrader I am long on PXT for the share buy backs alone they have been very consistant they can only buy 10% of the float for cancalation annually this is why the aloted amount drops each year of what they can purchase on the open market ie next year 10% of 97 mil they will be able to buy 9.7 mil next year the float will be 98 mil and change at the end of the month they buy 30,000 shares per

[CrazyTrader]

Thank you traderlong2.