The Toronto Stock Exchange (TSX) has released its annual TSX30 list, showcasing the 30 top-performing companies that are making the most impact in driving Canada’s economy forward.
Established in 2019, the TSX30 ranks stocks by their dividend-adjusted share price performance over three years.
The list was released on Tuesday (September 9), a day after the S&P/TSX Composite Index (INDEXTSI:OSPTX) reached an all-time high of 29,027. It’s up 17.18 percent since the start of the year and nearly 30 percent since September 2024.
Mining stocks have helped drive these gains, and companies in the sector claimed 17 spots on this year’s TSX30 list. Gold and silver miners dominated, accounting for 15 of the 17 resource sector stocks on the list.
The top-ranked precious metals producer was Lundin Gold (TSX:LUG,OTCQX:LUGDF), which took second place overall on the list, recording a 775 percent share price gain over the past three years.
Its surge has largely been driven by increasing output at its Fruta del Norte operation in Ecuador. According to Mining Data Online (MDO), its gold output came in at 502,000 ounces in 2024 and is projected at 475,000 to 525,000 ounces in 2025.
At number five was Avino Silver & Gold Mines (TSX:ASM,NYSEAMERICAN:ASM), which has gained 610 percent over the past three years. Silver production at its namesake mine in Durango, Mexico, reached a record 1.11 million ounces in 2024. In December 2024, the firm started development work at its La Preciosa project, also in Durango.
Since the start of the year, Avino’s share price has increased by more than 350 percent.
At number 11 is New Gold (TSX:NGD,NYSEAMERICAN:NGD), a mid-tier producer with two gold mines located in BC and Ontario. According to MDO, its Rainy River mine in Southwest Ontario recorded gold output of 226,000 ounces in 2024, while new Ashton increased its production to 72,000 ounces, up from 63,000 ounces in 2023 and 38,000 ounces in 2022.
The company beat its low-end guidance for all-in sustaining costs in 2024 at US$1,239.
The remaining precious metals-focused companies on the TSX30 list are: Kinross Gold (TSX:K,NYSE:KGC) (12), IAMGOLD (TSX:IMG,NYSE:IAG) (13), Torex Gold Resources (TSX:TXG,OTCQX:TORXF) (14), Alamos Gold (TSX:AGI,NYSE:AGI) (19), Perpetua Resources (TSX:PPTA,NASDAQ:PPTA) (21), Orla Mining (TSX:OLA,NYSEAMERICAN:ORLA) (22), China Gold International Resources (TSX:CGG) (25), Dundee Precious Metals (TSX:DPM) (26), Eldorado Gold (TSX:ELD,NYSE:EGO) (27), Galiano Gold (TSX:GAU,NYSEAMERICAN:GAU) (28), Skeena Resources (TSX:SKE,NYSE:SKE) (29) and Taseko Mines (TSX:TKO,NYSEAMERICAN:TGB) (30).
The non-gold resource companies listed are Almonty Industries (TSX:AII,NASDAQ:ALM) (10) and Cameco (TSX:CCO,NYSE:CCJ) (23). In the top spot overall was Celestica (TSX:CLS,NYSE:CLS), which provides artificial intelligence-powered supply chain optimization solutions. Over the past three years, its share price has gained 1,599 percent.
Gold and silver producers have fared well in 2025 as uncertainty bleeds into the global economy on the back of shifting US trade policies. This has prompted many investors to turn to the safety and stability of precious metals.
Gold has risen to record highs above US$3,600 per ounce in recent days, while silver is trading above US$40 per ounce.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.