Ag Growth International Inc. (AFN) Jumped 0.81% on Jan 4

January 4, 2018 - By Peter Erickson

Shares of Ag Growth International Inc. (TSE:AFN) last traded at 53.55, representing a move of 0.81%, or 0.43 per share, on volume of 2,570 shares. After opening the trading day at 53.15, shares of Ag Growth International Inc. traded in a close range. Ag Growth International Inc. currently has a total float of 16.15M shares and on average sees 42,948 shares exchange hands each day. The stock now has a 52-week low of 47.08 and high of 60.26.

What Drives The Canadian Economy?

Canada is an important aspect of the North American economy. While the US is relatively bigger, it still has interesting potentials to drive economic growth in the region.
With a thriving equity market, any nation has the capacity to carry out long-term prospects. In Canada, for example, there is the Toronto Stock Exchange (TSX). The benchmark index is the S&P/TSX Composite Index, replacing the TSE 300 Index.

Facts About the S&P/TSX Composite Index

The S&P/TSX Composite Index is a free-float market-capitalization-weighted index like most leading indices in the world. This means that its components are the most actively traded stocks on the TSX, excluding those that are held by inside traders, venture capitalists, and government entities. Stocks held by these stakeholders are not frequently traded, which is why it is useless to include them on indices. Ag Growth International Inc. is one of the stocks traded on it.

The S&P/TSX Composite Index had recorded its all-time high of 15,657.63 in September 2014, thanks to the gains in crude oil prices that primarily led the surge in the Energy and Financials sectors’ the two biggest sectors on the weighted index. Meanwhile, it had recorded its all-time low of 217.50 in February 1950. As of October 31, 2014, more than 1,500 companies are listed on the TSX. By the end of May, the TSX already had a market capitalization of $2.78 trillion. The regular trading session on the TSX begins at 9:30 a.m. and ends at 4:00 p.m. There is also a post-market session that lasts from 4:15 p.m. until 5:00 p.m.

What Makes Up the S&P/TSX Composite Index

There are numerous requirements in order for companies to be included in the S&P/TSX Composite Index. For starters, of course, they need to be listed on the TSX. Consequently, they must operate in accordance to all existing Canadian corporate laws. As Ag Growth International Inc. is still listed, this means that the stock complies with all laws.

In order to become a component of the S&P/TSX Composite Index, a stock must weigh at least 0.05% of the index. Prior to rebalancing, it must have traded an average of C$1 in the preceding three months and at least C$1 in the last three sessions leading to the month of review. Moreover, its trading volume must weigh at least 0.025% of the overall trading volume of all eligible stocks.

About 250 companies make up the S&P/TSX Composite Index. The Financials and Energy sectors alone account for 56% of it, with the former making up 36% and the latter making up 20%. The next biggest sectors include the Materials, Industrial, and Consumer Discretionary sectors.

Because the Organization of the Petroleum Exporting Countries (OPEC) has recently decided to cut oil production rate to lift oil prices, the Energy sector of the S&P/TSX Composite Index is poised for potential gains. Professional analysts might be interested how this will affect Ag Growth International Inc..

Investing on the TSX is an ideal way to bet on the Canadian economy. With a promising long-term growth, investors will surely benefit from valuable returns be it in the near term or the longer term.

More notable recent Ag Growth International Inc. (TSE:AFN) news were published by: Marketwired.com which released: “Ag Growth Announces Closing of $75 Million Public Offering of Convertible …” on January 03, 2018, also Seekingalpha.com with their article: “AG Growth International’s (AGGZF) CEO Tim Close on Q3 2017 Results - Earnings …” published on November 10, 2017, Marketwired.com published: “Ag Growth Comments on Trading Activity” on September 18, 2017. More interesting news about Ag Growth International Inc. (TSE:AFN) were released by: Seekingalpha.com and their article: “Ag Growth International’s (AGGZF) CEO Tim Close on Q4 2016 Results - Earnings …” published on March 16, 2017 as well as Stockhouse.com‘s news article titled: “IIROC Trade Resumption - Ag Growth International Inc.” with publication date: January 03, 2018.

Ag Growth International Inc., together with its subsidiaries, makes and distributes grain handling, storage, and conditioning equipment in Canada, the United States, and internationally. The company has market cap of $865.05 million. The firm offers portable handling equipment, such as portable augers, portable belt conveyors, grainvacs, and storm seed treaters; and permanent handling equipment, including enclosed belt conveyors, chain conveyors, bucket elevators, truss and towers, distributors, rail and truck probes, custom configured belt conveyors, screw feders and conveyors, bulk weigh hoppers, VIS micro dosing systems, TA tapered auger vertical blend systems, and spout and connections. It has a 27.14 P/E ratio. It also provides storage and conditioning equipment comprising storage bins, temporary storage systems, aeration and conditioning systems, dust collection systems, pneumatic conveying systems, heaters, unloads, and petroleum and water storage systems; and livestock equipment, such as fencing, as well as stock tanks and waterers.

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