Prophecy Development Corp. (PCY) Decline -2.46% on Mar 14

March 14, 2018 - By Adrian Erickson

Shares of Prophecy Development Corp. (TSE:PCY) last traded at 2.77, representing a move of -2.46%, or -0.07 per share, on volume of 10,468 shares. After opening the trading day at 2.7, shares of Prophecy Development Corp. traded in a close range. Prophecy Development Corp. currently has a total float of 7.47M shares and on average sees 8,726 shares exchange hands each day. The stock now has a 52-week low of 2.55 and high of 5.

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. Prophecy Development Corp. 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. Prophecy Development Corp. 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 Prophecy Development Corp..

More notable recent Prophecy Development Corp. (TSE:PCY) news were published by: which released: “OTC Markets Group Welcomes Prophecy Development Corp. to OTCQX” on February 27, 2018, also with their article: “Prophecy Coal Corp. Announces Change of Name to Prophecy Development Corp.” published on January 05, 2015, published: “Ride The Vanadium Wave After Lithium” on December 19, 2016. More interesting news about Prophecy Development Corp. (TSE:PCY) were released by: and their article: “Prophecy Coal: A Mongolian Energy Power Play” published on March 15, 2012 as well as‘s news article titled: “The Vanadium Bull And One Vanadium Stock That Few Talk About” with publication date: August 02, 2017.

Prophecy Development Corp. engages in the exploration and development of mining properties and energy projects in Canada, Mongolia, and Bolivia. The company has market cap of $20.70 million. The firm primarily explores for coal, silver, lead, and zinc deposits. It currently has negative earnings. The Company’s principal properties comprise the Ulaan Ovoo Property covering an area of approximately 790 hectares located in Selenge province, Northern Mongolia; the Khavtgai Uul coal property that covers an area of approximately 1,636 hectares located in the southwest portion of the Nyalga coal basin, Mongolia; the Chandgana Tal property located in the northeast portion of the Nyalga coal basin, Mongolia; and the Pulacayo project consisting of various licenses located in south western Bolivia.

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