Meteoric Resources NL (MEI) Declined -7.69% on Apr 18

Shares of Meteoric Resources NL (ASX:MEI) last traded at 0.012, representing a move of -7.69%, or -0.001 per share, on volume of 2.62 million shares. After opening the trading day at 0.012, shares of Meteoric Resources NL traded in a close range. Meteoric Resources NL currently has a total float of 666.42 million shares and on average sees 1.75 million shares exchange hands each day. The stock now has a 52-week low of 0.007 and high of 0.039.

This Is Why S&P/ASX 200 Is Up 4.7% For The Year

S&P/ASX 200 is a leading market index that features Australia’s top 200 companies ranked based on market capitalization. Meteoric Resources NL is one of many involved in trades. The index first went online in April of 2,000 after inheriting all the data from All Ordinaries. The index does not have restrictions on the kind of companies that can be listed as long as one meets the minimum eligibility requirements.

ASX 200 Highs and Lows

Since its inception, the index all time high stands at 6828.70 points recorded in November 2007. The index boasts of an all-time low of 1358.50 points registered in November 1992 and inherited from All Ordinaries.

The index currently covers 80% of Australia’s equity market something that has made it a reliable tool for gauging the health of the country’s equity market. ASX 200 is also liquidperfect from addressing all kinds of investment needs for managers who need to diversity in their portfolio. Good liquidity of Meteoric Resources NL attracted traders at the market.

S&P/ ASX 200 is market-capitalization weighted, meaning its rating can only move up or down, based price changes of stocks listed. Weighted points are not in any way affected by changes in market capitalization not tied to stock prices. Unlike other indexes, ASX 200 does to take into consideration-restricted stocks normally issued to strategic investor’s, governments or venture capitalists as these are deemed strategic holdings mostly considered log term investments.

Listing Requirements

Companies that would wish to be listed in the index must first have their shares listed on the country’s national bourse, the ASX. Liquidity of a stock is another factor that is usually taken into consideration prior to a company being listed. The index also ensures that no single company dominates trading.

Rebalancing of the index usually takes place every three months in a bid to ensure that all the stocks listed meet the minimum requirement. In the just concluded rebalancing carried out on September 16, 2016, six companies were dropped and consequently replaced by six others that had met the minimum requirement.

The index rebalancing is normally carried out by a five-panel ‘index committee’ with the next one slated for December 16, 2016. While rebalancing can reduce the number of stocks listed, the committee cannot list more than 200 companies. Fortunately, Meteoric Resources NL is one of them.

Some of the sectors that feature prominently in the index include utilities, financials, and Healthcare. Financials account for a huge chunk of the index’s total weighted points, at 40% with the second one accounting for less than 20%. The index total equity capitalization on the other hand accounts for 80% of Australian Securities Exchange total capitalization.

ASX 200 Performance

The S&P ASX 200 is currently up by 4.7% for the year as institutional and retail investors continue to scramble for positions in some of the companies with solid growth prospects. Strong corporate governance is one of the reasons that most investors are showing strong interest in the country’s top tier companies most of which are listed in the ASX 200.

Australia also boasts of one of the lowest interest rate environment in the developed world seen as a key drawer of investments from investors abroad. Companies like Meteoric Resources NL are the safe haven for many.

More recent Meteoric Resources NL (ASX:MEI) news were published by: which released: “Meteoric Resources: Meteoric Confirms High-Grade Cobalt Results at Mulligan – Junior Mining Network” on December 13, 2017. Also published the news titled: “Meteoric Resources: Appointment of Managing Director – Junior Mining Network” on January 10, 2018.‘s news article titled: “Meteoric expansion in Cobalt –” with publication date: May 06, 2018 was also an interesting one.

Meteoric Resources NL engages in the exploration of mineral tenements in Australia and Canada. The company has market cap of $8.00 million. It holds interests in a portfolio of copper-gold, iron, and diamond ore projects located in Western Australia and Northern Territory, Australia; and cobalt projects in Ontario, Canada. It currently has negative earnings.

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