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The Morningstar Canada Large-Mid Cap Index fell 0.6% in the second quarter amid struggles 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 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.
Best-Performing Stocks of the Second Quarter 2024
Bombardier BBD.B
Kinross Gold K
Pan American Silver PAAS
First Quantum Minerals Ltd FM
Dollarama Inc DOL
Worst-Performing Stocks of the Second Quarter 2024
Magna International MG
OpenText OTEX
Bausch + Lomb BLCO
Shopify SHOP
BMO Financial Group BMO
Metrics for the Best-Performing Stocks
Bombardier BBD.B
Sector: Industrials
Industry: Aerospace & Defense
Economic Moat: Narrow
Bombardier rose 50.9% in the second quarter, rising 34.3% from one year ago. The company’s stock has a Morningstar Rating of 3 stars and is trading at a 5% discount to its fair value estimate of C$92.00.
Kinross Gold K
Sector: Basic Materials
Industry: Gold
Economic Moat: None
Kinross Gold climbed 37.6%, bringing the stock up 84.0% over the past year. The company’s stock has a Morningstar Rating of 2 stars and is trading at a 42% premium to its fair value estimate of C$8.00.
Pan American Silver PAAS
Sector: Basic Materials
Industry: Gold
Economic Moat: Not Rated
Pan American Silver rallied 33.8%, bringing the stock up 44.6% over the past year. Shares are 12.4% below their last high on May 28, 2024. The company’s stock has a quantitative Morningstar Rating of 3 stars.
First Quantum Minerals Ltd FM
Sector: Basic Materials
Industry: Copper
Economic Moat: Not Rated
First Quantum Minerals Ltd advanced 23.4%, but was still down 42.5% for the year. Shares are 54.1% below their last high on July 31, 2023. The company’s stock has a quantitative Morningstar Rating of 3 stars.
Dollarama Inc DOL
Sector: Consumer Defensive
Industry: Discount Stores
Economic Moat: Not Rated
Dollarama Inc jumped 21.1%, leaving the stock up 39.7% for the year. The company’s stock has a quantitative Morningstar Rating of 2 stars.
Metrics for the Worst-Performing Stocks
Magna International MG
Sector: Consumer Cyclical
Industry: Auto Parts
Economic Moat: None
Magna International fell 21.5% in the second quarter and declined 20.6% over the past year. Shares are 34.1% below their last high on Aug. 4, 2023. The company’s stock has a Morningstar Rating of 4 stars and is trading at a 41% discount its fair value estimate of C$97.00.
OpenText OTEX
Sector: Technology
Industry: Software – Application
Economic Moat: Not Rated
OpenText slid 21.2%, having fallen 23.4% from one year ago. Shares are 31.5% below their last high on Feb. 2, 2024. 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 slid 15.5% and declined 25.3% over the past year. Shares are 31.6% below their last high on June 30, 2023. The company’s stock has a Morningstar Rating of 4 stars and is trading at a 24% discount to its fair value estimate of C$26.00.
Shopify SHOP
Sector: Technology
Industry: Software – Application
Economic Moat: Wide
Shopify fell 14.4%, shares were still up 2.2% for the year. Shares are 27.9% below their last high on Feb. 12, 2024. The company’s stock has a Morningstar Rating of 3 stars and is trading at an 8% discount to its fair value estimate of USD 72.00.
BMO Financial Group BMO
Sector: Financial Services
Industry: Banks – Diversified
Economic Moat: Narrow
BMO Financial Group slid 12.1%, but shares are flat from one year ago, having risen only 0.9%. Shares are 14.3% below their last high on April 9, 2024. The company’s stock has a Morningstar Rating of 4 stars and is trading at a 14% discount to its fair value estimate of C$133.00.
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.
