Gran Tierra Energy (GTE) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Gran Tierra Energy Inc. has secured approval from the Toronto Stock Exchange to initiate a normal course issuer bid, allowing the company to buy back up to 10% of its public float over the next year. This move is part of an Automatic Share Purchase Plan aimed at purchasing shares when regulatory restrictions prevent it, potentially benefiting shareholders by increasing share value. The company believes its shares are undervalued, and this strategy could enhance shareholder value through share cancellations or satisfying equity incentive plans.
For further insights into GTE stock, check out TipRanks’ Stock Analysis page.