Top and Bottom Performing Canadian Stocks of…

The Morningstar Canada Large-Mid Cap Index rose 1.4% in August amid a rally in the real estate 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 August 2024

• Shopify SHOP
• Lundin Gold LUG
• iA Financial Group IAG
• GFL Environmental GFL
• Quebecor QBR.B

Worst-Performing Stocks of August 2024

• Curaleaf CURA
• Algonquin Power & Utilities AQN
• Pan American Silver PAAS
• Kinaxis KXS
• ATS Automation Tooling Systems ATS

Metrics for the Best-Performing Stocks

Shopify SHOP

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

Shopify rose 18.0% in August, lifting shares 11.0% over the past year. Shares are 19.0% below their last high on Feb. 12, 2024. 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$110.00.

Lundin Gold LUG

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

Lundin Gold jumped 13.3%, bringing the stock up 72.5% over the past year. The company’s stock has a quantitative Morningstar Rating of 2 stars.

iA Financial Group IAG

• Sector: Financial Services
• Industry: Insurance – Diversified
• Economic Moat: Not Rated

iA Financial Group climbed 11.8%, bringing the stock up 26.6% over the past year. The company’s stock has a quantitative Morningstar Rating of 3 stars.

GFL Environmental GFL

• Sector: Industrials
• Industry: Waste Management
• Economic Moat: Not Rated

GFL Environmental rose 11.6%, leaving the stock up 33.9% for the year. The company’s stock has a quantitative Morningstar Rating of 3 stars.

Quebecor QBR.B

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

Quebecor surged 10.8%, lifting shares 12.9% from one year ago. The company’s stock has a Morningstar Rating of 4 stars and is trading at a 16% discount to its fair value estimate of C$40.00.

Metrics for the Worst-Performing Stocks

Curaleaf CURA

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

Curaleaf fell 28.6% in August, leaving the stock down 21.8% for the year. Shares are 55.2% below their last high on April 30, 2024. The company’s stock has a Morningstar Rating of 5 stars and is trading at a 78% discount its fair value estimate of C$17.50.

Algonquin Power & Utilities AQN

• Sector: Utilities
• Industry: Utilities – Renewable
• Economic Moat: Not Rated

Algonquin Power & Utilities slid 15.2% and declined 23.3% over the past year. Shares are 29.8% below their last high on Sept. 1, 2023. The company’s stock has a quantitative Morningstar Rating of 4 stars.

Pan American Silver PAAS

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

Pan American Silver fell 13.8%, but was still up 24.8% over the past year. Shares are 18.0% below their last high on July 16, 2024. The company’s stock has a quantitative Morningstar Rating of 3 stars.

Kinaxis KXS

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

Kinaxis fell 13.3%, leaving the stock down 11.6% for the year. Shares are 14.8% below their last high on July 31, 2024. The company’s stock has a quantitative Morningstar Rating of 3 stars.

ATS Automation Tooling Systems ATS

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

ATS Automation Tooling Systems fell 12.8%, having fallen 40.3% from one year ago. Shares are 41.2% below their last high on Sept. 5, 2023. 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.

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

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