11:56 AM EST, 12/03/2024 (MT Newswires) -- Fortuna Mining ( FSM ) on Tuesday said it repurchased 6.4-million 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 bid's terms.

"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 Chief Executive Jorge Ganoza.

Fortuna shares were last seen up $0.68 to $7.06 on the Toronto Stock Exchange.

Price: 7.06, Change: +0.68, Percent Change: +10.66