Several miners digging up the critical minerals required to power the green energy transition have made the list of top performing companies on the Toronto Stock Exchange (TSX).
The TSX has released its sixth annual TSX30, a ranking of the top 30 performing companies based on dividend-adjusted share price performance over a three-year period.
Collectively, TSX30 companies represent over C$380 billion ($419.9 billion) in market capitalisation, after gaining C$210 billion in market value and averaging a 234% dividend-adjusted share price appreciation in the past three years.
Toronto Stock Exchange CEO Loui Anastasopoulos says the top performers are shaping the future of Canada’s economy and ensuring the country’s strengths in energy and mining align with the emerging technology sector to keep Canada competitive on the global stage.
Among the miners were China Gold International Resources (TSX:CGG), which came in at number 11 with a 208% three-year dividend-adjusted share price performance.
The company operates two producing mines in China – the CSH Gold Mine in the Inner Mongolia region, and the Jiama Copper-Polymetallic Mine in the Tibet region.
Uranium producer Cameco Corporation (TSX:CCO) ranked 13th with a 186% three-year dividend-adjusted share price performance.
According to the TSX, the company has seen renewed interest, underscoring the importance of critical minerals in the shift to a low-carbon economy.
Following Cameco is Vancouver-headquartered copper and zinc miner Teck Resources (TSX:TECK.B), which came in at number 24 with a 140% three-year dividend-adjusted share price performance.
Almos Gold (TSX:AGI) took out the final spot with a three-year dividend-adjusted share price performance of 134%.
The TSX notes that this year’s TSX30 indicates a changing investor focus from growth investing to value investing, with a preference for companies with positive cash flow and a history of consistent dividends.
Nearly two-thirds (63%) of the 30 companies paid dividends, averaging a 2.8% yield.
The TSX says this is significantly higher compared to the eight dividend-paying companies on the 2021 TSX30, which had an average yield a full percentage point lower.
According to the bourse, this trend reflects the appeal of stable, cash-generating companies in a volatile market.
Nine of this year’s TSX30 companies graduated from the TSX Venture Exchange, while 14 of the 2024 TSX30 companies have appeared in previous TSX30 rankings (since 2019), with their collective dividend-adjusted share prices up 210% and market capitalisation rising 147% during that time.
Write to Angela East at Mining.com.au
Images: Toronto Stock Exchange
