Largo Resources Ltd. (LGO) Move Up 6.86% on Dec 18
Date: Dec 19, 2018
Shares of Largo Resources Ltd. (TSE:LGO) last traded at 2.96, representing a move of 6.86%, or 0.19 per share, on volume of 1.79 million shares. After opening the trading day at 2.63, shares of Largo Resources Ltd. traded in a close range. Largo Resources Ltd. currently has a total float of 526.01M shares and on average sees 1.97M shares exchange hands each day. The stock now has a 52-week low of 0.95 and high of 4.65.
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. Largo Resources Ltd. 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.
