Shares of Ximen Mining Corp. (CVE:XIM) last traded at 0.83, representing a move of 6.41%, or 0.05 per share, on volume of 195,260 shares. After opening the trading day at 0.8, shares of Ximen Mining Corp. traded in a close range. Ximen Mining Corp. currently has a total float of 32.46 million shares and on average sees 192,350 shares exchange hands each day. The stock now has a 52-week low of 0.135 and high of 0.86.
S&P/TSX Composite Index: Making Canadian Economy Grow Bigger
The Canadian economy is growing as fast as any global economy giant today. It may not yet be as big as that of the US or Japan but it surely boasts with a promising trade and commerce environment.
The main stock exchange in Canada is the Toronto Stock Exchange (TSX) with the benchmark index being the S&P/TSX Composite Index. The TSX perfectly represents how much the Canadian economy has grown and evolved through the years and how it still continues to transform for the better.
Getting to Know the TSX
The TSX is made up of over 1,500 companies as of October 31, 2014. It has nearly touched the $3 trillion total market capitalization mark in May. Ximen Mining Corp. trades on the exchange. The S&P/TSX Composite Index is the benchmark Canadian index, representing roughly 70% of the total market capitalization on the TSX with about 250 companies included in it. More than half of it is composed of the its biggest sectors only’ the Financials sector and the Energy sector. Included in the list of top five biggest sectors in the S&P/TSX Composite Index are the Materials, Industrials, and Consumer Discretionary sectors.
In February 1950, the S&P/TSX Composite Index had posted its all-time low, 217.50. In September 2014, it had posted its all-time high, 15,657.63. The surge in oil prices in 2014 had led the S&P/TSX Composite Index to attain this peak level as both the Energy and Financial sectors primarily got a boost.
S&P/TSX Composite Index Eligibility
The S&P/TSX Composite Index, like most indices, is a free-float market-capitalization-weighted index. This means that stocks that are not frequently traded are automatically excluded from it. These stocks are those that are held by venture capitalists, inside traders, the government, among others.
In order to become a component of the S&P/TSX Composite Index, a company must first meet a set of certain criteria.
First, a company must of course be listed on the TSX. That being said, it must abide by all Canadian laws.
Should it be included, the company must weigh a minimum of 0.05% on the S&P/TSX Composite Index. Ximen Mining Corp. complies with the rules for listing.
In terms of price, its average stock price in the past three months prior to rebalancing date must be at least C$1. Its stock price in the three sessions immediately prior to rebalancing date must also be at least C$1.
In terms of trading volume, the company must represent at least 0.025% of the total trading volume of the components of the S&P/TSX Composite Index.
Oil prices are highly expected to rebound soon, giving the TSX a further lift, as the Organization of the Petroleum Exporting Countries (OPEC) is to cut oil production amid the growing supply glut dilemma. This is why more and more investors are considering to enter the Canadian equity market. Needless to say, investing in the TSX is the best way to bet on one of the world’s most influential economies. Professional analysts might be interested how this will affect Ximen Mining Corp..
Ximen Mining Corp. engages in the acquisition, exploration, and evaluation of mineral properties in British Columbia, Canada. The company has market cap of $26.94 million. It primarily explores for gold deposits. It currently has negative earnings. The firm holds 100% interest in the Treasure Mountain property located to the east of Hope, British Columbia; and the Dentonia South property located to the south of Greenwood, British Columbia.
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