Eldorado Gold (TSX: ELD) is the latest gold producer to attempt to give its share price a boost via share buybacks. The firm this morning announced that it has been approved by the TSX to conduct a normal course issuer bid.
The arrangement is rather small in size, with the company eligible to repurchase just 1.4 million of its common shares through to December 29, 2022. The figure represents just 0.8% of its 182.7 million currently outstanding shares.
Daily purchases under the program are to not exceed 109,140, due to its average daily volume of just over 436,000. The firm has engaged National Bank Financial to conduct such transactions.
Eldorado Gold last traded at $12.05 on the TSX.
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