DPM Metals (ASX:DPM) has initiated the renewal of its normal course issuer bid (NCIB), allowing the company to buy back up to 11 million common shares, representing around 4.96% of its outstanding shares, according to a Thursday filing with the Australian bourse.
The renewed buyback program will run from March 18 through March 17, 2027, per the filing.
The company repurchased 3.5 million shares at an average price of $16.06 per share under the previous NCIB, which ran from March 18, 2025, to March 17, the filing said.
The purchases under the new bid will be conducted through the Toronto Stock Exchange or other approved trading systems, subject to a daily limit of 286,745 shares, and all repurchased shares will be cancelled, the filing added.