Globex Mining Enterprises Inc. (GMX) Is Yet to See Trading Action on Mar 14

March 14, 2018 - By Clifton Ray

Shares of Globex Mining Enterprises Inc. (TSE:GMX) closed at 0.435 yesterday. Globex Mining Enterprises Inc. currently has a total float of 51.05M shares and on average sees 40,435 shares exchange hands each day. The stock now has a 52-week low of 0.38 and high of 0.61.

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. Globex Mining Enterprises Inc. 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. Globex Mining Enterprises Inc. 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 Globex Mining Enterprises Inc..

More notable recent Globex Mining Enterprises Inc. (TSE:GMX) news were published by: which released: “Globex Mining Enterprises Inc. Announces Normal Course Issuer Bid” on March 08, 2018, also with their article: “Substantial Upside In Globex Mining Enterprises” published on January 11, 2018, published: “Globex Mining Enterprises Inc. Completes $1045000 Private Placement” on December 16, 2016. More interesting news about Globex Mining Enterprises Inc. (TSE:GMX) were released by: and their article: “Globex Mining Enterprises Inc. Completes $550000 Private Placement” published on December 05, 2017 as well as‘s news article titled: “Globex: Falco Begins 2018 Donalda Mine Drill Program” with publication date: March 13, 2018.

Globex Mining Enterprises Inc. engages in the acquisition, exploration, and development of mineral properties in North America. The company has market cap of $22.21 million. It has a mineral portfolio of approximately 140 early to mid-stage exploration, development, and royalty properties containing base metals, including copper, nickel, zinc, and lead; precious metals, such as gold, silver, platinum, and palladium; specialty metals and minerals comprising manganese, titanium oxide, iron, molybdenum, uranium, and lithium, as well as rare earths and associated elements; and industrial minerals consisting of mica, silica, apatite, potash, feldspar, and pyrophyllite, as well as talc and magnesite. It currently has negative earnings.

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