The Morningstar Canada Large-Mid Cap Index rose 3.6% in January amid a rally in the technology sector. The large-mid index tracks the performance of the top 90% of the Canadian investable universe by market cap, and each month 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.
Best-Performing Stocks of January 2025
• Celestica CLS
• Kinross Gold K
• Agnico Eagle Mines AEM
• Lundin Gold LUG
• Franco-Nevada FNV
Worst-Performing Stocks of January 2025
• Capital Power CPX
• Bombardier BBD.B
• Air Canada AC
• Rogers Communications RCI.B
• Ivanhoe Mines IVN
Metrics for the Best-Performing Stocks
Best-Performing Canadian Stocks for January 2025
Celestica CLS
• Sector: Utilities
• Industry: Utilities - Independent Power Producers
• Economic Moat: Not Rated
Celestica jumped 35.3% in January, lifting shares 288.3% over the past year. The company’s stock has a quantitative Morningstar Rating of 1 star.
Kinross Gold K
• Sector: Basic Materials
• Industry: Gold
• Economic Moat: None
Kinross Gold rose 22.6%, having risen 124.4% from one year ago. The company’s stock has a Morningstar Rating of 1 star and is trading at a 93% premium to its fair value estimate of C$8.50.
Agnico Eagle Mines AEM
• Sector: Basic Materials
• Industry: Gold
• Economic Moat: None
Agnico Eagle Mines jumped 20.1%, having risen 109.3% from one year ago. The company’s stock has a Morningstar Rating of 1 star and is trading at a 67% premium to its fair value estimate of C$81.00.
Lundin Gold LUG
• Sector: Basic Materials
• Industry: Gold
• Economic Moat: Not Rated
Lundin Gold advanced 17.4%, having risen 134.5% from one year ago. The company’s stock has a quantitative Morningstar Rating of 2 stars.
Franco-Nevada FNV
• Sector: Basic Materials
• Industry: Gold
• Economic Moat: Not Rated
Franco-Nevada rose 17.0%, bringing the stock up 37.5% over the past year. The company’s stock has a quantitative Morningstar Rating of 2 stars.
Worst-Performing Canadian Stocks for January 2025
Metrics for the Worst-Performing Stocks
Capital Power CPX
• Sector: Utilities
• Industry: Utilities - Independent Power Producers
• Economic Moat: Not Rated
Capital Power slid 16.5% in January, but was still up 52.1% from one year ago. Shares are 22.6% below their last high on Dec. 6, 2024. The company’s stock has a quantitative Morningstar Rating of 4 stars.
Bombardier BBD.B
• Sector: Industrials
• Industry: Aerospace & Defense
• Economic Moat: Narrow
Bombardier slid 13.0%, but shares were still up 71.2% for the year. Shares are 25.1% below their last high on Oct. 15, 2024. The company’s stock has a Morningstar Rating of 3 stars and is trading at a 16% discount to its fair value estimate of C$101.00.
Air Canada AC
• Sector: Industrials
• Industry: Airlines
• Economic Moat: None
Air Canada slid 11.9%, but was still up 7.6% over the past year. Shares are 25.1% below their last high on Dec. 10, 2024. The company’s stock has a Morningstar Rating of 2 stars and is trading at a 14% premium to its fair value estimate of C$17.20.
Rogers Communications RCI.B
• Sector: Communication Services
• Industry: Telecom Services
• Economic Moat: Narrow
Rogers Communications fell 9.7%, leaving the stock down 34.0% for the year. Shares are 38.2% below their last high on Feb. 1, 2024. The company’s stock has a Morningstar Rating of 5 stars and is trading at a 40% discount to its fair value estimate of C$66.00.
Ivanhoe Mines IVN
• Sector: Basic Materials
• Industry: Other Industrial Metals & Mining
• Economic Moat: Not Rated
Ivanhoe Mines fell 8.5%, but shares were still up 10.6% for the year. Shares are 26.8% below their last high on May 21, 2024. The company’s stock has a quantitative Morningstar Rating of 2 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.
