The Toronto Stock Exchange (TSX) on Tuesday unveiled its yearly TSX30 ranking, with mining companies – particularly gold producers – making up more than half of the 2025 list.

The TSX30 ranks the top 30 performing TSX-listed stocks over a three-year period, based on dividend-adjusted share price appreciation.

Seventeen of the top 30 performers were miners, including 15 gold companies, a reflection of investor demand for safe-haven assets during volatile markets. Lundin Gold led the mining cohort and ranked second overall, delivering a 775% dividend-adjusted share price increase over three years. Other strong performers included Avino Silver & Gold Mines (5th, +610%), Almonty Industries (10th, +427%), and New Gold (11th, +394%).

The strong representation of miners in this year’s TSX30 coincides with a period of heightened gold prices and renewed global focus on critical minerals. Alongside the precious metals players, uranium producer Cameco (23rd, +277%) and critical minerals developer Perpetua Resources (21st, +290%) also secured positions, reflecting the market’s recognition of Canada’s role in supplying key resources for the energy transition.

Collectively, the 17 mining companies on the list helped drive the TSX30’s three-year average return of 431% and contributed to the $358-billion in new market value created by the cohort. More than half of these miners — 11 in total — are TSX-V graduates, demonstrating the success of Canada’s two-tier market structure in advancing early-stage explorers into established producers.

New Gold ranked 11th on the list of top 30 performing stock and CEO Patrick Godin said the company's inclusion was something to be proud off.  "This achievement highlights the considerable growth New Gold has accomplished over the last three years. Those accomplishments have provided New Gold with a clear path toward increasing production and declining costs, leading to strong and sustained free cash flow generation for our shareholders. We are well positioned to achieve our goal of being the most valued intermediate gold and copper producer."

"We are honored to be recognised as one of the TSX's top-performing companies," said Renaud Adams, president and CEO of Iamgold, which ranked 13th.

"This achievement is a testament to the dedication of our teams and recognition of Iamgold's emergence as a leading Canada-focused modern gold producer. We believe that this is just the beginning for the new Iamgold. As a company we offer significant growth opportunities at our operations and projects in Canada, expectations of accelerating significant free cashflow generation, and our ability to utilise innovative, accountable mining to create enduring value for all stakeholders," said Adams.