19th Dec 2016 07:51
LONDON (Alliance News) - Gold miner Polymetal International PLC on Monday said it has been selected by Euromoney Indices to be added to their Global Gold Index for the first time.
"It is gratifying to see Polymetal join the Euromoney Global Gold Index. I believe our inclusion in the index is a recognition of our performance and relative weight in the gold sector and will further raise our profile amongst investors on the global arena," said Chief Executive Vitaly Nesis.
The miner noted it has a market cap of USD4.38 billion and said it will be a "top 11 constituent" of the index. Polymetal was previously included in the Euromoney Global Diversified Mining Index.
The index comprises 51 companies with a total market cap of about USD140.00 billion from across six markets and is a sub-index of the benchmarking Euromoney Global Mining Index Series that measure the returns of companies in the metal and mineral extraction industries, Polymetal said.
All indices are market capitalisation weighted, free float adjusted and cover both emerging and developed markets. The index is reviewed on a quarterly basis.
Euromoney Indices is the index compilation and calculation business of the London listed global financial and business media company Euromoney Institutional Investor PLC.
By Joshua Warner; [email protected]; @JoshAlliance
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