Noront Resources Ltd (NOT) Is Yet to See Trading Action on Aug 24

August 24, 2017 - By marketbeat

Shares of Noront Resources Ltd (CVE:NOT) closed at $0.35 yesterday. Noront Resources Ltd currently has a total float of 307.62 million shares and on average sees 608,383 shares exchange hands each day. The stock now has a 52-week low of $0.22 and high of $0.52.

TSX: Leading Canada’s Growth

The equity market is a reliable indicator of any nation’s economic condition. Because of it, investors are able to determine the future of the economy and make investments based on logical numbers.

Canada has one of the world’s fastest growing economies’ thanks to its flourishing equity market that has withstood the toughest of times and still remains thriving until today.

The Canadian Equity Market

The Toronto Stock Exchange (TSX) is the main stock exchange in Canada. The benchmark index weighing its stocks is the S&P/TSX Composite Index, which makes up 70% of the total market capitalization of the TSX.

More than 1,500 companies are listed on the TSX as of October 2014. In May, the total market capitalization of the TSX was seen at nearly $3 trillion.
More than 200 companies are included in the S&P/TSX Composite Index, 36% of which belong to the Financials sector alone. The Energy sector is the second largest sector in the S&P/TSX Composite Index, making up 20% of it, followed by the Materials sector, Industrial sector, and Consumer Discretionary sector in the top five.

The S&P/TSX Composite Index has an all-time low of 217.50 and an all-time high of 15,657.63. Noront Resources Ltd trades on the exchange.

Trading on the TSX starts and ends at 9:30 a.m. and 4:00 p.m., respectively. Meanwhile, post-market trading starts and ends at 4:15 p.m. and 5:00 p.m., respectively.

How It Works

The S&P/TSX Composite Index measures stocks based on market capitalization with respect to share price. Such is the case to make sure that only the most actively traded stocks represent one of the world’s closely watched indices, providing accurate, real-time manifestations of the Canadian economy. This means that stocks held by the government, company insiders, and venture capitalists are not weighted on the S&P/TSX Composite Index.

For stocks to be included in the S&P/TSX Composite Index, they must first be listed on the TSX under the mandate of the Canadian government. They must make up at least 0.05% of the S&P/TSX Composite Index. This requirement guarantees a harmonious and perfectly balanced index. Noront Resources Ltd complies with the rules for listing.

Liquidity is also an important consideration in maintaining the S&P/TSX Composite Index. The trading volume of each stock must compose at least 0.025% of the total trading volume of all stocks eligible for inclusion. In terms of price, each stock must have a minimum average trading price of C$1 in the three months immediately preceding the review date. It must also have a minimum trading price of C$1 in the three trading days immediately preceding the rebalancing.

The Organization of the Petroleum Exporting Countries (OPEC) has finally decided to minimize oil production as an answer to the long-time problem of oversupply. This means that crude oil prices are set to bounce back from the turmoil, lifting the TSX further. Consequently, investing on TSX stocks is just reasonable for investors nowadays. Professional analysts might be interested how this will affect Noront Resources Ltd.

More notable recent Noront Resources Ltd (CVE:NOT) news were published by: Marketwired.com which released: “Noront Resources Provides Update on Ring of Fire Development and Exploration …” on January 17, 2017, also Marketwatch.com with their article: “0.35” published on April 21, 2011, Juniorminingnetwork.com published: “Noront Resources Appoints New Directors” on April 10, 2017. More interesting news about Noront Resources Ltd (CVE:NOT) were released by: Marketwired.com and their article: “Noront Resources Appoints Director and Issues Stock Options” published on June 08, 2017 as well as Juniorminingnetwork.com‘s news article titled: “Noront Resources and Marten Falls First Nation Sign Exploration and Project …” with publication date: April 13, 2017.

Noront Resources Ltd. is engaged in the development, exploration and acquisition of properties prospective in base and precious metals, including nickel, copper, platinum group elements, chromite, iron, titanium, vanadium, gold and silver. The company has market cap of $107.67 million. The Firm is focused on development and exploration of its properties in the James Bay Lowlands of Ontario within a geological feature referred to as the Ring of Fire, which has deposits, such as Eagle’s Nest deposit, a high grade nickel, copper, platinum and palladium deposit (the Eagle’s Nest Project); Black Thor, Black Label, Big Daddy and Blackbird Chromite deposits, and McFauld’s Lake copper zinc resource. It currently has negative earnings. In addition, it holds interest, mineral, and exploration rights to approximately 103,030 hectares of ground in Ontario, New Brunswick and Quebec.

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