TSX 30 Average Return Hits 785 Percent in 2026
Technology and mining stocks drove record gains on the Toronto Stock Exchange, with the top 30 index posting a 785 percent average return over three years.
The average dividend-adjusted share price appreciation for the TSX 30 reached 785 percent over the three-year period ending in 2026. This figure is nearly double the average return recorded in the previous year's ranking. The list marks the strongest performance since the program launched in 2019. Investors capitalized on a global commodities super cycle and the rapid build-out of AI data centers. Canada’s infrastructure development also contributed to the gains.
Five technology companies secured spots on the 2026 list. These firms added $85.3 billion in market capitalization over the three-year window. Celestica Inc. topped the ranking for the second consecutive year. The company posted a 2,590 percent dividend-adjusted share price increase. Other tech performers include Firan Technology Group Corp., MDA Space Ltd., Hut 8 Corp., and Telesat Corp. Celestica benefits from its role in advanced electronic manufacturing for high-tech clients.
Mining firms dominate the top thirty
Eighteen of the thirty top performers belong to the mining sector. This represents a slight increase from the previous year. The group includes companies focused on gold, silver, copper, and rare earths. Gold prices breached US$5,000 per ounce before settling around US$4,400. Robert Peterman, chief commercial officer of the Toronto Stock Exchange, noted expected commodity shortfalls over the next five years. He stated that junior exploration companies typically discover the bulk of new mines required to meet demand.
Energy stocks benefit from supply shifts
Two energy companies made the list, reflecting higher prices driven by geopolitical tensions. Tenaz Energy Corp. and Valeura Energy Inc. are the included firms. Energy prices rose sharply after the U.S. conflict with Iran restricted crude flows through the Strait of Hormuz. Anthony Marino, CEO of Tenaz Energy, reported a 1,463 percent dividend-adjusted share price performance. He emphasized that the company differentiates itself through lower operating costs rather than price setting. Canada’s supportive regulatory environment for energy production remains a key factor.
