Wednesday 21st October 2020

Resource Clips

Miners join broad range of industries on new TSX index

by Greg Klein | September 26, 2019

Six miners and two royalty companies took their places among a diverse group of enterprises on the TSX30’s inaugural list. Announced September 26, the new index includes “the 30 top-performing TSX stocks over a three-year period based on dividend-adjusted share price appreciation,” TMX Group TSX:X stated.

Miners join broad range of industries on new TSX index

The exchange’s Loui Anastasopoulos called it “a new recognition program featuring some of the most compelling success stories among our listed issuers, including companies operating in traditional areas of strength like natural resources and also in newly defined sectors like clean tech and cannabis.”

Stalwarts like Air Canada TSX:AC joined pharmaceuticals, agriculture, software, lending, gambling and other endeavours. Market caps ranged from about $250 million to $49 billion.

No oil and gas companies made the list. Earlier this week Reuters stated that eight Canadian energy firms had been dropped from the S&P/TSX Composite due to falling market capitalization.

Of nine new TSX listings added last month, one was a miner. Ten companies added to the Venture in August consisted of two miners and eight capital pool companies.

Last February the exchange created the TSX Venture 50 that lists 10 companies from each of five sectors based on market cap growth, share price appreciation and trading volume. The five categories consisted of mining, energy, technology, clean tech/life sciences and diversified industries.

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