Top-Performing Canadian Stocks

By Investopedia | December 06, 2010 AAA

More than 20 Canadian stocks have produced over 100% year-to-date returns. With the year wrapping up, many traders will now be looking to make one last investment push to reap the benefits of Canada's economically diverse and growing market environment. The list of recently top-performing stocks spans a list of sectors and industries.

IN PICTURES: Learn To Invest In 10 Steps

Oil And Gas

TransGlobe Energy (Nasdaq:TGA) has increased in price by 440% through 2010, with a 60% hike coming in November trading. TransGlobe Energy, a Calgary exploration and production company, has diverse operations in Egypt and Yemen. In its latest quarter, TGA reported a 14% increase in production and a 42% surge in oil revenues.

Equal Energy (NYSE:EQU), another Calgary-based junior oil and gas drilling and exploration firm, is also up over 10% in the last three months. The company's first Viking well had an initial five-day production rate of 137 BOE per day. Equal's Cardium wells have also been producing at above-expected levels. Equal Energy changed its name on June 1 from Enterra Energy Trust.

Metals

With the recent push in gold prices, it is not surprising to see two Canadian gold producers on our list. US Gold (NYSE:UXG), which has its head office in Toronto, has surged over 30% in the last few months, while Fronteer Gold (AMEX:FRG), headquartered in Vancouver, is up over 40% in the same time frame. A strong balance sheet and a mix of organic growth with a stable resource base have been among the drivers of US Gold's success.

Although Silver Wheaton (NYSE:SLW) has experienced fewer gains than some other Canadian firms, it is very unlikely that investors are unhappy with the 155% year-to-date performance. SLW, the world's largest silver streaming company, doubled its quarterly earnings. The firm recorded record profits as the price of silver continues to outperform that of gold.

Vancouver-based industrial metals and minerals exploration corporation Almaden Minerals (AMEX:AAU) has skyrocketed by 335% throughout the first 11 months of the year. With thriving drilling operations and a successful private placement for 81,200 shares, AAU intends to continue expanding the Elk project.

Bottom Line

Year to date, the iShares MSCI Canada Index (NYSE:EWC) is up over 15%, outperforming the SPDR S&P 500 ETF (NYSE:SPY) by about 5%. If the Canadian economy continues to prosper and the aforementioned companies continue down the path of elevated operations, they could have more momentum to finish off 2010. (Momentum can be used with other tools to be an effective buy/sell indicator. See Momentum Indicates Stock Price Strength.)

Use the Investopedia Stock Simulator to trade the stocks mentioned in this stock analysis, risk free!

comments powered by Disqus
Related Analysis
  1. India Remains An Emerging Market Bright Spot
    Stock Analysis

    India Remains An Emerging Market Bright Spot

  2. Still More Gains Ahead For Semiconductor Makers
    Stock Analysis

    Still More Gains Ahead For Semiconductor Makers

  3. Fed Comments Should Spur Positivity - Ahead of Wall Street
    Stock Analysis

    Fed Comments Should Spur Positivity - Ahead of Wall Street

  4. A 30% Profit Opportunity From Europe's Latest Moves
    Investing

    A 30% Profit Opportunity From Europe's Latest Moves

  5. Tepid Market Waters Across the Globe - Ahead of Wall Street
    Stock Analysis

    Tepid Market Waters Across the Globe - Ahead of Wall Street

Trading Center