Shopify (TSX:SHOP), Ballard (TSX:BLDP) and Cronos (TSX:CRON) stocks lead TSX30 2020 list

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Shopify (TSX:SHOP), Ballard (TSX:BLDP) and Cronos (TSX:CRON) stocks lead TSX30 2020 list

 Shopify (TSX:SHOP), Ballard (TSX:BLDP) and Cronos (TSX:CRON) stocks lead TSX30 2020 list

[Feature Image Caption: Shopify, Ballard and Cronos emerged as the best performing stocks in the TSX30 list]

Summary

  • TSX30 is a ranking of thirty top-performing stocks on the Toronto Stock Exchange over a three-year period.
  • The stocks were adjudged on the basis of share price appreciation, market capitalisation and other factors.
  • Shopify Inc. (TSX: SHOP), Ballard Power Systems Inc. (TSX: BLDP) and Cronos Group Inc. (TSX: CRON) emerged as the best performing stocks on the list.
  • Kirkland Lake Gold Ltd. (TSX: KL) and Alacer Gold Corp (TSX: ASR) took the fourth and fifth positions.

Shopify Inc. (TSX: SHOP), Ballard Power Systems Inc. (TSX: BLDP) and Cronos Group Inc. (TSX: CRON) are the best performing stocks on the Toronto Stock Exchange (TSX), as per a new list released by the TMX Group on Tuesday. The ranking, known as TSX30, is a list of thirty top-performing stocks over a three-year period. The stocks were adjudged on the basis of share price appreciation, market capitalisation, sustained excellence and other factors.

Kirkland Lake Gold Ltd. (TSX: KL) and Alacer Gold Corp (TSX: ASR) claimed the fourth and fifth spots on the list.

The average three-year share price appreciation for the 30 winning stocks of 2020 was 242%. The combined market capitalization of these companies grew by C$ 221 billion in three years.

From global trade uncertainties in late 2019 to a pandemic in 2020, it has been a difficult year for investors and issuers, claimed the TSX Group in an accompanying statement.

In these COVID circumstances, organisations are navigating the quick changing landscape of the businesses and falling demands, adapting to new ways of working, it added. These 30 top-performing companies have been able to stand out in the crowd amid pandemic circumstances. The winners constantly proved their excellence, resilience and ability to grow despite the challenges in the last three years, said the group.

Canada’s largest e-commerce company Shopify’s stock has grown by nearly 138 per cent this year while Ballard’s scrips have appreciated by over 120 per cent year-to-date.

Highlights of TSX30 2020

(Source: TSX)

TSX30 Winning Stocks

Company

TSX Stock Symbol

Sector

3-Year

Performance (%)

Shopify

TSX: SHOP

Technology & Clean Technology

1043%

Ballard Power Systems Inc.

TSX: BLDP

Technology & Clean Technology

459%

Cronos Group Inc.

TSX: CRON

Life Sciences (Cannabis)

378%

Kirkland Lake Gold Ltd.

TSX: KL

Mining

363%

Alacer Gold Corp

TSX: ASR

Mining

349%

International Tower Hill Mines Ltd.

TSX: ITH

Mining

292%

Wesdome Gold Mines Ltd.

TSX: WDO

Mining

285%

Dundee Precious Metals Inc.

TSX: DPM

Mining

273%

Teranga Gold Corporation

TSX: TGZ

Mining

250%

Cargojet Inc.

TSX: CJT

Industrial Products & Services

248%

Neptune Wellness Solutions Inc.

TSX: NEPT

Life Sciences (Cannabis)

245%

Trilogy Metals Inc.

TSX: TMQ

Mining

238%

Village Farms International Inc.

TSX: VFF

Technology & Clean Technology (Cannabis)

199%

Orla Mining Ltd.

TSX: OLA

Mining

192%

Enghouse Systems Limited

TSX: ENGH

Technology & Clean Technology

185%

Trisura Group Ltd.

TSX: TSU

Financial Services

182%

Aurinia Pharmaceuticals Inc.

TSX: AUP

Life Sciences

177%

Canopy Growth Corporation

TSX: WEED

Life Sciences

176%

Champion Iron Limited

TSX: CIA

Mining

169%

Goodfood Market Corp.

TSX: FOOD

Consumer Products & Services

163%

Sandstorm Gold Ltd.

TSX: SSL

Mining

160%

Real Matters Inc.

TSX: REAL

Technology &

Clean Technology

149%

Wheaton Precious Metals Corp.

TSX: WPM

Mining

144%

Sprott Inc.

TSX: SII

Financial Services

143%

Yamana Gold Inc.

TSX: YRI

Mining

142%

Kinaxis Inc.

TSX: KXS

Technology & Clean Technology

140%

Constellation Software Inc.

TSX: CSU

Technology & Clean Technology

135%

Lundin Gold Inc.

TSX: LUG

Mining

132%

SSR Mining Inc.

TSX: SSRM

Mining

130%

Richards Packaging Income Fund

TSX: RPI.UN

Industrial Products & Services

129%

Domination of Mining Companies

Mining companies dominated the list, with 14 out of 30 top performing stocks belonging from this sector. Kirkland Lake Gold emerged as the top performing mining stock, followed by Alacer Gold stock and International Tower Hill Mines stock.

The mining cohort posted an average three-year share price performance of 223 per cent. The sector’s market cap grew 217 per cent in three years, from CS 22 billion to C$ 69 billion in 2020.

TSX30 2020: Average Performance By Sector

Technology and clean-tech cohort scripted the best performance with 330 per cent rise in average three-year share price performance, followed by life sciences with 244 per cent growth.

(Performance based on average three-year share price performance / Source: TSX)

Of the 30 companies, 16 are based out of Ontario, eight in British Columbia and two in Quebec. Four international companies – three from the United States and one from Australia – also made it to the list.

The ranking methodology used to shortlist the TSX30 stocks were:

  • Companies with a market capitalisation of at least $7S million (as on June 30, 2017)
  • Minimum closing dividend-adjusted share price C$0.50 (as on June 30, 2017)
  • Listed on the TSX for at least three years, or if a TSXV graduate, listed for total of three years including one year on TSX)
  • TSX-listed corporate operating business (as on June 30, 2020)

After implementing the above the ranking methodology, 546 companies were shortlisted, which were further assessed on the basis of three-year dividend-adjusted share price performance.

TSX30 ranking was first launched in 2019.

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