Fortuna Silver Mines Inc. (NYSE: FSM | TSX: FVI) has announced the renewal of its normal course issuer bid (NCIB), allowing the company to repurchase its own common shares. The Toronto Stock Exchange (TSX) has accepted the notice to proceed with the bid.
Under the renewed program, which is effective from April 18, 2026, to April 17, 2027, Fortuna may purchase for cancellation up to 10 million of its common shares. This represents approximately 3.3% of the company's public float as of April 10, 2026. The company stated that purchases will be made through the facilities of the TSX, the NYSE, and/or alternative trading systems in Canada.
Fortuna's management and board believe that, from time to time, the market price of its common shares may not fully reflect their underlying value. The NCIB is intended to provide a tool to enhance shareholder value. The company noted that any purchases will be made at prevailing market prices and in accordance with regulatory rules.
Fortuna Silver Mines is a global precious metals producer with operations in Latin America and West Africa. The renewal of the share buyback program is a common corporate strategy to return capital to shareholders.
