Top and Bottom Canadian Stocks in July 2024

The Morningstar Canada Large-Mid Cap Index rose 5.8% in July amid a rally in the healthcare 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 July 2024

• Colliers International CIGI
• Bausch + Lomb BLCO
• Agnico Eagle Mines AEM
• Brookfield Global Listed Infrastructure Income Fund BN
• Lundin Gold LUG

Worst-Performing Stocks of July 2024

• Air Canada AC
• Boyd Group Services BYD
• Lundin Mining LUN
• Celestica CLS
• Shopify SHOP

Metrics for the Best-Performing Stocks

Colliers International CIGI

• Sector: Real Estate
• Industry: Real Estate Services
• Economic Moat: Not Rated

Colliers International rose 21.8% in July, leaving the stock up 39.7% for the year. The company’s stock has a quantitative Morningstar Rating of 3 stars.

Bausch + Lomb BLCO

• Sector: Healthcare
• Industry: Medical Instruments & Supplies
• Economic Moat: Narrow

Bausch + Lomb advanced 19.7%, but was still down 9.6% for the year. Shares are 12.5% below their last high on Aug. 22, 2023. The company’s stock has a Morningstar Rating of 3 stars and is trading at a 9% discount to its fair value estimate of C$26.00.

Agnico Eagle Mines AEM

• Sector: Basic Materials
• Industry: Gold
• Economic Moat: None

Agnico Eagle Mines advanced 19.1%, leaving the stock up 58.8% for the year. The company’s stock has a Morningstar Rating of 1 star and is trading at a 38% premium to its fair value estimate of C$77.00.

Brookfield Global Listed Infrastructure Income Fund BN

• Sector: Financial Services
• Industry: Asset Management
• Economic Moat: Not Rated

Brookfield Global Listed Infrastructure Income Fund climbed 18.3%, bringing the stock up 47.4% from one year ago. The company’s stock has a quantitative Morningstar Rating of 3 stars.

Lundin Gold LUG

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

Lundin Gold rallied 18.3%, having risen 39.6% from one year ago. The company’s stock has a quantitative Morningstar Rating of 3 stars.

Metrics for the Worst-Performing Stocks

Air Canada AC

• Sector: Industrials
• Industry: Airlines
• Economic Moat: None

Air Canada slid 11.1% in July, having fallen 34.5% from one year ago. Shares are 35.3% below their last high on July 31, 2023. The company’s stock has a Morningstar Rating of 3 stars and is trading at an 11% premium its fair value estimate of C$14.30.

Boyd Group Services BYD

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

Boyd Group Services fell 9.9%, having fallen 4.2% from one year ago. Shares are 28.7% below their last high on Feb. 28, 2024. The company’s stock has a quantitative Morningstar Rating of 4 stars.

Lundin Mining LUN

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

Lundin Mining fell 8.5%, shares were still up 21.9% for the year. Shares are 22.4% below their last high on May 21, 2024. The company’s stock has a quantitative Morningstar Rating of 3 stars.

Celestica CLS

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

Celestica fell 7.6%, but was still up 149.9% from one year ago. Shares are 16.7% below their last high on July 16, 2024. The company’s stock has a quantitative Morningstar Rating of 3 stars.

Shopify SHOP

• Sector: Technology
• Industry: Software – Application
• Economic Moat: Wide

Shopify fell 7.3% and declined 9.4% over the past year. Shares are 33.2% below their last high on Feb. 12, 2024. The company’s stock has a Morningstar Rating of 3 stars and is trading at a 15% discount to its fair value estimate of USD 72.00.

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.

This article was generated with the help of automation and reviewed by Morningstar editors.

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