Table of Contents Show
The Morningstar Canada Large-Mid Cap Index rose 1.7% in the first quarter amid a rally in the basic materials sector. The large-mid index tracks the performance of the top 90% of the Canadian investable universe by market cap, and each quarter we screen from among the stocks in this index to find the best- and worst-performing companies. Data in this article is sourced from Morningstar Direct.
• Alamos Gold AGI
• Agnico Eagle Mines AEM
• Wheaton Precious Metals WPM
• Kinross Gold K
Worst-Performing Stocks of the First Quarter 2025
• TFI International TFII
• Air Canada AC
• NexGen Energy NXE
• Ivanhoe Mines IVN
• Capital Power CPX
Best-Performing Canadian Stocks
Source: Morningstar Direct. Data as of March 31, 2025.
Metrics for the Best-Performing Stocks
Lundin Gold LUG
• Sector: Basic Materials
• Industry: Gold
• Economic Moat: Not Rated
Lundin Gold surged 46.8% in the first quarter, rising 142.4% from one year ago. The company’s stock has a quantitative Morningstar Rating of 2 stars.
Alamos Gold AGI
• Sector: Basic Materials
• Industry: Gold
• Economic Moat: Not Rated
Alamos Gold advanced 45.1%, bringing the stock up 93.5% over the past year. The company’s stock has a quantitative Morningstar Rating of 1 star.
Agnico Eagle Mines AEM
• Sector: Basic Materials
• Industry: Gold
• Economic Moat: None
Agnico Eagle Mines rose 39.2%, lifting shares 96.9% over the past year. The company’s stock has a Morningstar Rating of 1 star and is trading at a 92% premium to its fair value estimate of C$81.00.
Wheaton Precious Metals WPM
• Sector: Basic Materials
• Industry: Gold
• Economic Moat: Not Rated
Wheaton Precious Metals rose 38.0%, having risen 76.9% from one year ago. The company’s stock has a quantitative Morningstar Rating of 2 stars.
Kinross Gold K
• Sector: Basic Materials
• Industry: Gold
• Economic Moat: None
Kinross Gold climbed 36.2%, having risen 120.9% from one year ago. The company’s stock has a Morningstar Rating of 1 star and is trading at a 99% premium to its fair value estimate of C$9.10.
Worst-Performing Canadian Stocks
Source: Morningstar Direct. Data as of March 31, 2025.
Metrics for the Worst-Performing Stocks
TFI International TFII
• Sector: Industrials
• Industry: Trucking
• Economic Moat: Not Rated
TFI International fell 42.3% in the first quarter, having fallen 47.6% from one year ago. Shares are 49.6% below their last high on April 10, 2024. The company’s stock has a quantitative Morningstar Rating of 5 stars.
Air Canada AC
• Sector: Industrials
• Industry: Airlines
• Economic Moat: None
Air Canada plunged 36.3% and declined 27.7% over the past year. Shares are 45.9% below their last high on Dec. 10, 2024. The company’s stock has a Morningstar Rating of 3 stars and is trading at an 18% discount to its fair value estimate of C$17.20.
NexGen Energy NXE
• Sector: Energy
• Industry: Uranium
• Economic Moat: Not Rated
NexGen Energy tumbled 32.0%, having fallen 38.7% from one year ago. Shares are 48.4% below their last high on Nov. 22, 2024. The company’s stock has a quantitative Morningstar Rating of 5 stars.
Ivanhoe Mines IVN
• Sector: Basic Materials
• Industry: Other Industrial Metals & Mining
• Economic Moat: Not Rated
Ivanhoe Mines fell 28.4%, leaving the stock down 24.4% for the year. Shares are 42.7% below their last high on May 21, 2024. The company’s stock has a quantitative Morningstar Rating of 3 stars.
Capital Power CPX
• Sector: Utilities
• Industry: Utilities – Independent Power Producers
• Economic Moat: Not Rated
Capital Power slid 23.9%, but shares were still up 31.9% for the year. Shares are 30.4% below their last high on Dec. 6, 2024. The company’s stock has a quantitative Morningstar Rating of 3 stars.
Companies that are not formally covered by a Morningstar analyst are statistically matched to analyst-rated companies, allowing our models to calculate a quantitative star rating.
The author or authors do not own shares in any securities mentioned in this article. Find out about Morningstar’s editorial policies.
