3 TSX Growth Stocks Set to Soar in this month

May 13, 2024 12:00 AM EDT | By Team Kalkine Media
 3 TSX Growth Stocks Set to Soar in this month
Image source: shutterstock.com

Navigating the dynamic stock market landscape presents challenges and rewards in identifying promising growth stocks. In 2024, the Toronto Stock Exchange (TSX) hosts three standout companies positioned as future giants amid the energy sector's notable performance. Explore the growth potential of AtkinsRéalis (TSX:ATRL), Mattr Corp. (TSX:MATR), and NexGen Energy (TSX:NXE) as prime examples of TSX growth stocks.

AtkinsRéalis (TSX:ATRL)

Formerly known as SNC-Lavalin, AtkinsRéalis continues to secure contract awards in the engineering and construction industry, showcasing its robust growth trajectory. In 2023, the company achieved record-high service revenue and backlog, signaling its operational excellence and market demand. Notable contract wins include projects for the Georgia Department of Transportation and the Centre Hospitalier de l’Université de Montreal.

Under the leadership of its president and CEO, Ian L. Edwards, AtkinsRéalis has implemented a new operational structure to sustain growth and capitalize on emerging opportunities. With a global presence and a focus on integrated professional services, the company is well-positioned to thrive in diverse markets.

Despite a modest dividend yield of 0.15%, AtkinsRéalis trades at $53.15 per share. As the company continues to secure lucrative contracts and expand its foothold in key sectors, investors can anticipate substantial share price appreciation in the coming years.

Mattr Corp. (TSX:MATR)

Formerly Shawcor, Mattr Corp. witnessed a transformative year in 2023, marked by significant revenue growth and a return to profitability. With operations spanning critical infrastructure markets, including communication, electrification, and transportation, the company has established itself as a leader in materials technology.

President and CEO Mike Reeves emphasizes Mattr's commitment to investment in organic growth and strategic acquisitions, capitalizing on high-return opportunities in expanding markets. Analysts project a remarkable upside potential of 68.4% within one year, reflecting optimism surrounding Mattr's growth trajectory.

Trading at $16.63 per share, Mattr Corp. is well-positioned to capitalize on growing demand for its innovative solutions and services. As the company continues to leverage its diverse portfolio and pursue strategic initiatives, investors can expect sustained value creation.

NexGen Energy (TSX:NXE)

NexGen Energy emerges as a key player in the global energy landscape, focusing on uranium production and clean energy solutions. With the development of the Rook I Project, the company aims to establish the world's largest, low-cost producing uranium mine, catering to the growing demand for nuclear power.

Amidst rising concerns about climate change, nuclear energy has garnered renewed interest as a clean and sustainable alternative. NexGen Energy stands at the forefront of this transition, poised to meet the increasing demand for uranium and contribute to global energy security.

With a current share price of $11.19 and a year-to-date return of 20.7%, NexGen Energy offers investors an attractive opportunity to participate in the clean energy revolution. As the company continues to unlock the potential of its robust portfolio, investors can anticipate significant long-term gains.

AtkinsRéalis, Mattr Corp., and NexGen Energy represent compelling investment opportunities for growth-oriented investors seeking exposure to promising sectors. With their proven track records, strategic vision, and commitment to innovation, these companies are poised to emerge as future giants on the TSX.


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