Altair Resources Inc (AVX) Plunged -6.52% on Sep 12

September 12, 2017 - By Dolores Ford

Shares of Altair Resources Inc (CVE:AVX) last traded at $0.215, representing a move of -6.52%, or $-0.015 per share, on volume of 2,000 shares. After opening the trading day at $0.22, shares of Altair Resources Inc traded in a close range. Altair Resources Inc currently has a total float of 49.86 million shares and on average sees 35,733 shares exchange hands each day. The stock now has a 52-week low of $0.16 and high of $0.47.

Facts About S&P/TSX Index

S&P/TSX is Canada’s leading market index that features stocks of the largest companies listed on the Toronto Stock Exchange. The index features stocks as measured by market-capitalization, and currently account for 70% of the total market capitalization of the TSX.

The S&P TSX came into being after replacing the TSE 300 Index that was initially used as a benchmark for the country’s stock market. The performance of the index is most of the time used by investors worldwide to gauge the health of the country’s equity market as well as overall economy.

Listing Requirements

Inclusion into the index requires a company to have its stock first listed on the TSX. The company must also be incorporated under Canadian laws. Given that the index is market-capitalization weighted, all stocks listed must weigh at least 0.05% of the index with a share price tag of not less than C$1 in the last three trading session of any given month. Altair Resources Inc complies with the rules for listing.

The index also plays close watch to a company’s liquidity prior to the listing of its stock. For a stock to be listed on the S&P TSX it must be liquid enough to support unusual volume changes as well as dollar movements. The measure also ensures that at no one point one stock dominates the movement of the entire index.

TSX Coverage Sector

The S&P TSX has about 250 components at any given point from which the weighted points are generated. These components cover a variety of sectors ranging from Materials, Consumer Discretionary, Financials, and Energy to Healthcare. Currently, Financials account for 36% of the index total market capitalization with the Energy sector coming a close second with 20% share.

Since its inception, the S&P TSX has registered an all-time low of 217.50 points registered in February 1950. The Index all time high currently stands at 15657.63 points, printed in September 2014. The energy and the commodities sectors are known to have a huge say on the index overall performance given that a majority of components it carries have exposure to the two sectors.

S&P TSX is dominated by commodity stocks notably in the oil sector given the concentration of natural resources in Canada. The index was on the receiving end at the beginning of the year having taken a beating on oil prices plunging to multi-year lows. A recovery in the sector in recent months has aroused hopes of a bright future as commodity prices continue to strengthen.

TSX Performance

A move by OPEC members to curb production should have a positive impact on the S&P TSX given that the same would bolster stock prices of a good number of stocks it carries. Stability in the Canadian economy is another reason the index continues to evoke interest from institutional investors worldwide as it is seen as a safe haven compared to other economies that are slowly sinking into recession. Professional analysts might be interested how this will affect Altair Resources Inc.

Domestic and foreign retail investors flocking into the Canadian equity market is only expected to push the S&P TSX higher given the growth prospects of most of the companies it carries.

More notable recent Altair Resources Inc (CVE:AVX) news were published by: Marketwatch.com which released: “0.20” on May 15, 2011, also Investingnews.com with their article: “Altair Resources Samples 26.2% Zn, 6.37% Pb at Crepulja” published on August 15, 2017, Juniorminingnetwork.com published: “Altair Resources Acquires Prince Zinc-Lead-Silver-Manganese Mine” on May 25, 2017. More interesting news about Altair Resources Inc (CVE:AVX) were released by: Juniorminingnetwork.com and their article: “Altair Resources Stakes 77 Unpatented Mining Claims Around Pan American Mine” published on June 22, 2017 as well as Juniorminingnetwork.com‘s news article titled: “Altair Resources to Acquire Solvent Extraction Plant for Pan American Mine” with publication date: August 09, 2017.

Altair Resources Inc., formerly Altair Gold Inc., is a Canada junior mineral exploration company. The company has market cap of $10.72 million. The Firm is engaged in the business of acquiring, exploring, developing and exploiting natural resource properties in British Columbia, Canada. It currently has negative earnings. The Firm holds interest in Invictus Project, which is located approximately 20 kilometers due west of the city of Mitrovica in North Kosovo and consists of a single exploration license of over 9.82 square kilometers.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our daily email newsletter.




Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our free daily email newsletter:


Twitter Auto Publish Powered By : XYZScripts.com