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[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.
