06:43 AM EST, 12/03/2024 (MT Newswires) -- Fortuna Mining ( FSM ) on Tuesday said it has repurchased around 6.4 million common shares under its normal course issuer bid in the fourth quarter as of Nov. 29, spending $30.5 million.

The company bought the shares, which will be canceled, at a weighted-average price of $4.77 each. To date, the company has repurchased 42% of the 15.3 million shares it is authorized to buy back under the normal course issuer bid.

"With record earnings in the third quarter, and strong free cash flow generation supported by historically high gold prices, Fortuna is positioned to return capital to its shareholders," said Fortuna Chief Executive Jorge Ganoza.