Sydney, Feb 25, 2026, 18:56 AEDT — Market closed
- Orica shares finished higher after the company disclosed more buying under its on-market buyback.
- The repurchase program is nearing its scheduled end, putting the day-to-day pace in focus.
- Traders are looking ahead to May results for the next clear catalyst.
Orica Ltd (ORI.AX) shares closed up 0.75% at A$24.19 on Wednesday, recovering some ground after a 1.8% drop a day earlier. (Investing)
A filing showed Orica bought back 220,106 shares on Feb. 24 for A$5.3 million, paying between A$23.95 and A$24.50. The on-market buyback — where a company repurchases stock on the exchange — has now absorbed 22.58 million shares for about A$468.4 million, leaving roughly A$32 million under Orica’s A$500 million cap, the filing showed. Orica said the amount and timing depend on market conditions and it can vary, suspend or terminate the program; Goldman Sachs Australia is the broker and the buyback is scheduled to run until March 27. (Company Announcements)
That matters now because the program is drifting into its final weeks. When buybacks get close to the end date, the flow can turn choppy — heavy one day, light the next — and short-term traders notice.
Buybacks can also lift per-share metrics by shrinking the share count, but they don’t change the cycle. Orica still has to sell product and services into a mining market that can cool fast.
Orica is a mining and infrastructure solutions provider that produces and supplies explosives and blasting systems, alongside mining chemicals and other services tied to mine-site activity. (Reuters)
In the broader market, the benchmark S&P/ASX 200 closed about 1.2% higher at roughly 9,128 points, marking a record close. Australia’s January inflation held at 3.8%, a reminder that rates can still re-enter the story quickly if prices stay sticky. (ABC News)
Orica’s move looked restrained against that backdrop. Part of that is simple positioning: the stock has had a steady corporate bid underneath it, but it still trades with the pulse of resources spending and big-miner activity.
But the downside case is plain enough. If mining volumes soften or project timelines slip, buybacks won’t stop earnings expectations from moving lower — and a repurchase program can slow just when investors would like it to speed up.
The next scheduled catalyst is May 7, when Orica is due to announce half-year results, followed by interim dividend dates later in May and payment on July 3, according to the company’s 2026 calendar. (Orica)
Before the next session, investors will watch the daily buyback notices for any change in tempo as the March 27 end date approaches.
