Hexo, Bombardier Among Issuers Dropped by S&P/TSX Composite Index

My how the might have fallen. The S&P Dow Jones Indices this evening announced the latest changes to the S&P/TSX Composite Index, and chief among the changes is the dropping of both Hexo Corp (TSX: HEXO) and Bombardier Class B Shares (TSX: BBD.b) shares.

As many are aware, the S&P/TSX Composite Index is the headline index for the Canadian markets, akin to the S&P500 for US based markets. In terms of the composite, firms must have a minimum average price of $1.00 over the previous three months, and over the last three trading days of the month end before the rebalance among other qualifications. Comparatively, the S&P TSX 60 consists of sixty of the largest firms listed on the TSX based on sector weights of the composite.

With respect to Bombardier, it was the only firm to be removed from both the S&P/TSX 60 index, as well as the composite. The firms fall from grace has been highly publicized, with the company recently announcing further layoffs.

In terms of Hexo, the dropping of the firm by the composite comes as no surprise given the firm’s sharp fall in share price over that of 2020. The fund currently owns 0.24% of the total outstanding shares of the company, representing a position of $680,243.

In a sign of the times and the ongoing transition to gold operators, a number of gold producers were comparatively added to the index, including Dundee Precious Metals (TSX: DPM), Equinox Gold Corp (TSX: EQX), Lundin Gold (TSX: LUG), SilverCrest Metals (TSX: SIL) and Teranga Gold (TSX: TGZ).

The full list of changes to the composite and 60 index can be found here.

The S&P/TSX Composite Index closed today’s session at $15,256.57.


Information for this briefing was found via S&P/TSX. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

When 4% of Global Copper Disappears Overnight | David Gower – Emerita Resources

Mining M&A: Gold X2 Acquires Kesselrun Resources

They Said Oil Was Dead. They Were Wrong. | Michael Judson – Record Resources

Recommended

Military Seizes Power in Madagascar After President Flees

Altamira Gold Hits 395.5 Metres Of 0.4 g/t Gold At Maria Bonita

Related News

Hexo Corp: Multiple Analysts Lower Price Targets Following Fourth Quarter Earnings

This morning, Canaccord Genuity lowered their 12-month price target on Hexo Corp (TSX: HEXO) (NYSE:...

Monday, November 2, 2020, 04:20:00 PM

Hexo Shakes Up Board Of Directors Following Activist Investor Intervention

Hexo Corp (TSX: HEXO) this morning announced minutes before the opening bell that it is...

Tuesday, February 22, 2022, 02:56:00 PM

Hexo Sees Belleville Facility, Including Truss Production Space, Fully Licensed By Health Canada

Hexo Corp (TSX: HEXO) (NYSE: HEXO) announced this morning that it has secured a sales...

Monday, June 1, 2020, 08:54:25 AM

Hexo’s Share Consolidation Won’t Save It. Here’s Why.

Earlier this week, Hexo Corp (TSX: HEXO) announced that they would be seeking approval from...

Saturday, February 19, 2022, 09:00:00 AM

Hexo Corp Fails To Meet NYSE Listing Standards, Mulls Share Consolidation

Hexo Corp (TSX: HEXO) (NYSE: HEXO) has received notification from the New York Stock Exchange...

Wednesday, May 13, 2020, 05:34:21 PM