Top and Bottom Canadian Stocks of 2024

It was a strong year for the Canadian stock market. During 2024’s big rally, which stocks were the best-performers and which were the worst-performers?

The Morningstar Canada Large-Mid Cap Index rose 22.9% in 2024 amid a rally in the consumer defensive sector. The large-mid index tracks the performance of the top 90% of the Canadian investable universe by market cap, and each year we screen from among the stocks in this index to find the best- and worst-performing companies.

Best-Performing Stocks of 2024

• Celestica CLS
• Lundin Gold LUG
• Bombardier BBD.B
• AtkinsRealis ATRL
• Capital Power CPX

Worst-Performing Stocks of 2024

• Curaleaf CURA
• Rogers Communications RCI.B
• OpenText OTEX
• ATS ATS
• Boyd Group Services BYD

Data in this article is sourced from Morningstar Direct. Here’s a closer look at the best- and worst-performing stocks for the year.

5 Best-Performing Canadian Stocks in 2024

Celestica CLS

• Sector: Technology
• Industry: Electronic Components
• Economic Moat: Not Rated

Celestica climbed 10.2% in December, bringing the stock up 241.8% over the past year. The company’s stock has a quantitative Morningstar Rating of 2 stars.

Lundin Gold LUG

• Sector: Basic Materials
• Industry: Gold
• Economic Moat: Not Rated

Lundin Gold fell 5.1% over the past month, but was still up 91.5% over the past year. Shares are 14.6% below their last high on Oct. 21, 2024. The company’s stock has a quantitative Morningstar Rating of 2 stars.

Bombardier BBD.B

• Sector: Industrials
• Industry: Aerospace & Defense
• Economic Moat: Narrow

Bombardier rose 1.0% in December, bringing the stock up 83.7% over the past year. Shares are 14.0% below their last high on Oct. 15, 2024. The company’s stock has a Morningstar Rating of 3 stars and is trading at a 3% discount to its fair value estimate of C$101.00.

AtkinsRealis ATRL

• Sector: Industrials
• Industry: Engineering & Construction
• Economic Moat: None

AtkinsRealis rose 0.3% over the past month, leaving the stock up 79.0% for the year. The company’s stock has a Morningstar Rating of 2 stars and is trading at a 17% premium to its fair value estimate of C$65.00.

Capital Power CPX

• Sector: Utilities
• Industry: Utilities – Independent Power Producers
• Economic Moat: Not Rated

Capital Power rose 3.4% in December, having risen 77.9% from one year ago. The company’s stock has a quantitative Morningstar Rating of 2 stars.

5 Worst-Performing Canadian Stocks

Curaleaf CURA

• Sector: Healthcare
• Industry: Drug Manufacturers – Specialty & Generic
• Economic Moat: None

Curaleaf slid 16.7% in December and declined 59.3% over the past year. Shares are 74.3% below their last high on April 30, 2024. The company’s stock has a Morningstar Rating of 5 stars and is trading at an 86% discount its fair value estimate of C$16.50.

Rogers Communications RCI.B

• Sector: Communication Services
• Industry: Telecom Services
• Economic Moat: Narrow

Rogers Communications slid 10.7% over the past month, leaving the stock down 26.1% for the year. Shares are 31.7% below their last high on Jan. 24, 2024. The company’s stock has a Morningstar Rating of 5 stars and is trading at a 41% discount to its fair value estimate of C$75.00.

OpenText OTEX

• Sector: Technology
• Industry: Software – Application
• Economic Moat: Not Rated

OpenText fell 4.6% in December, having fallen 24.6% from one year ago. Shares are 32.2% below their last high on Feb. 2, 2024. The company’s stock has a quantitative Morningstar Rating of 3 stars.

ATS ATS

• Sector: Industrials
• Industry: Specialty Industrial Machinery
• Economic Moat: Not Rated

ATS fell 4.4% over the past month, leaving the stock down 23.2% for the year. Shares are 26.9% below their last high on Jan. 30, 2024. The company’s stock has a quantitative Morningstar Rating of 3 stars.

Boyd Group Services BYD

• Sector: Consumer Cyclical
• Industry: Auto & Truck Dealerships
• Economic Moat: Not Rated

Boyd Group Services rose 0.4% in December, but was still down 22.0% for the year. Shares are 33.2% below their last high on Feb. 28, 2024. The company’s stock has a quantitative Morningstar Rating of 5 stars.

This article was generated with the help of automation and reviewed by Morningstar editors. Learn more about Morningstar’s use of automation.

The author or authors do not own shares in any securities mentioned in this article. Find out about Morningstar’s editorial policies.

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