The new buyback program, set to run from July 24, 2026, through July 23, 2027, follows a period of significant activity for the gold and copper producer. Over the past 12 months, OceanaGold repurchased $270 million in shares, contributing to a total of $325 million returned to investors since the program's inception in July 2024. For the current calendar year, the company previously set a target of $350 million for buybacks, with $134 million already completed as of July 21.
In section Releases
OceanaGold Renews Share Buyback Program for 2026
OceanaGold Corporation has secured approval from the Toronto Stock Exchange to repurchase up to 22 million common shares over the next year. This renewal of the company's Normal Course Issuer Bid allows for the buyback of roughly 10 percent of its public float, signaling a continued strategy of returning capital to shareholders.
President and CEO Gerard Bond attributed the move to the company's robust free cash flow, which supports both operational growth and shareholder returns. To navigate potential internal trading blackouts, OceanaGold has entered into an Automatic Share Purchase Plan with a designated broker. While the program allows for the acquisition of up to 209,812 shares daily, actual purchase volumes will depend on prevailing market conditions and cash availability. All shares acquired under this initiative will be cancelled.
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