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Thursday, Jul 25, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Gold

Calibre Mining becomes newest addition on S&P/TSX Composite Index

Canada’s foremost stock market index was up by over 200 points on Monday morning

Calibre Mining becomes newest addition on S&P/TSX Composite Index
The TMX Group just celebrated National Indigenous History Month. Photo credit: TMX Group Ltd

Calibre Mining Corp (TSX: CXB) (OTCQX: CXBMF) is now listed on Canada’s principal stock market index: the S&P/TSX Composite. It tracks the performance of the largest companies on the Toronto Stock Exchange.

The index was up by more than 200 points during morning trading hours on Monday as Calibre became its newest component.

“Our addition to the benchmark S&P/TSX Composite Index is another proud milestone for Calibre and reflects the significant value we are creating for shareholders as we successfully grow the company,” chief executive Darren Hall said.

It is comprised of the largest companies on the TSX. They must meet market capitalization and liquidity requirements for eligibility.

The prominent listing will potentially expand Calibre’s investor base. This would occur by attracting index funds and others that had not been paying attention to the company previously. There are 222 entities listed on the index.

Its top constituents are the Royal Bank of Canada (TSX: RY) and Toronto-Dominion Bank (TSX: TD). The broader financial sector is number one too, comprising almost 31 per cent of the total index weight. Other leading sectors include energy and industrials followed by materials and information technology.

“We look forward to the increased exposure, broader range of potential investors, enhanced liquidity and trading flexibility that inclusion in the index can provide,” Hall added.

Read more: Big name shareholder sells high percentage of its stake in Calibre Mining

Read more: Calibre appoints seasoned Senior VP & CFO Daniella Dimitrov

Calibre selected for listing on exchange-traded fund

Prior to the gold producer’s latest achievement, the VanEck Vectors Gold Miners ETF (NYSE: GDX) chose to add Calibre to its collection of influential companies.

Major operators listed on the fund include Newmont Corporation (NYSE: NEM), Agnico Eagle Mines Ltd (Ontario) (TSX: AEM) and Barrick Gold Corporation (TSX: ABX).

Calibre recently strengthened its management team with the addition of a highly-experienced new senior vice president and chief financial officer. Daniella Dimitrov will be officially stepping into her new roles on Tuesday.

 

Calibre Mining is a sponsor of Mugglehead news coverage 

 

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