Share Buyback Program Approved by Greenland Mines Ltd. Common Stock (NASDAQ:GRML)

Greenland Mines Ltd. Common Stock (NASDAQ:GRML) declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, October 6th, RTT News reports. The company plans to repurchase $20.00 million in shares. This repurchase authorization authorizes the company to buy up to 20.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Weiss Ratings raised shares of Greenland Mines Ltd. Common Stock from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 24th. Wall Street Zen upgraded shares of Greenland Mines Ltd. Common Stock to a “sell” rating in a research note on Saturday, August 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Greenland Mines Ltd. Common Stock presently has a consensus rating of “Sell”.

Greenland Mines Ltd. Common Stock Stock Up 0.9%

GRML opened at $5.88 on Friday. The firm has a market cap of $70.72 million, a price-to-earnings ratio of -0.51 and a beta of 6.26. Greenland Mines Ltd. Common Stock has a 52 week low of $2.82 and a 52 week high of $36.99. The business’s 50 day moving average is $7.78 and its two-hundred day moving average is $14.61.

Greenland Mines Ltd. Common Stock (NASDAQ:GRML) last issued its quarterly earnings data on Monday, August 17th. The company reported ($0.03) earnings per share for the quarter.

Insider Activity

In related news, Director Riad Hussein El-Dada sold 3,500 shares of the company’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $9.35, for a total value of $32,725.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jeff Leblanc purchased 14,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were acquired at an average price of $9.72 per share, with a total value of $136,080.00. Following the purchase, the chief financial officer owned 110,406 shares in the company, valued at $1,073,146.32. This trade represents a 14.52% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 11.30% of the company’s stock.

Greenland Mines Ltd. Common Stock Company Profile

Klotho Neurosciences, Inc, a biopharmaceutical company, develops therapies for neurological and age-related disorders, and specialty diagnostics. Its products include cell and gene therapies to mitigate age-related pathologies, such as dementia symptoms, and Alzheimer and neuromuscular diseases; biologics/biosimilars in the treatment of cancer; and melanocortin receptors. The company has a strategic partnership with Japan’s Okinawa Research Center for the research and development of Klotho gene therapy in enhancing longevity and reducing age-related diseases.