Scorching shares: Canada’s high performers in Q3 2025

The most effective inventory to have in your portfolio was knowledge centre operator Bitfarms Ltd.with an eye-popping 247.8% return over the 90 days to September 30, adopted by hashish producer Curaleaf Holdings Inc. (233%) and uranium miner Power Fuels Inc. (171.5%).

The 213-member S&P/TSX Composite—the usual index of Canadian shares—gained 11.8% over the interval. Its complete return, together with dividends, was 12.5%. These numbers in contrast favourably with the S&P 500 within the U.S., which returned 7.8% (8.1% complete return) in Q3.

Of the 296 mid- to large-capitalization shares in Canada (with a market worth of $2 billion or extra), the standouts included expertise, hashish, uranium, quick vogue, and gold corporations—the area of risk-takers. One of many high 10 performers (listed under), Cresco Labs Inc., began the quarter as a penny inventory.

Bitfarms has benefited recently from features within the worth of bitcoin, which it “mines,” and demand for knowledge centres as a result of synthetic intelligence (AI) growth. The Toronto-headquartered firm’s second-quarter income was up 87% yr over yr.

Curaleaf, which relies in Wakefield, Mass., joined the S&P/TSX Composite in September, changing into the one hashish producer on the index. Inclusion in a significant index often boosts an organization’s inventory worth as index funds are pressured so as to add it to their portfolios. Curaleaf has additionally been buoyed by social media posts by U.S. President Donald Trump apparently in favour of wider hashish legalization and Medicare funding for medical functions.

Lakewood, Colo.-based Power Fuels’ development has been pushed by rising uranium costs and the Trump administration’s willpower to spice up nuclear vitality use and provide chains in the US. The corporate additionally has a sideline in uncommon earth parts, a market at present dominated by China however through which the U.S. seeks to develop its personal provides.

Listed below are Canada’s high 10 greatest performing mid- to large-cap momentum shares for Q3 2025:

A sizzling streak in a single three-month interval is not any assure of continued features, particularly for smaller or unprofitable corporations in risky industries. However momentum has been demonstrated to be a optimistic think about investing, as a rule. There isn’t a consensus on the optimum holding interval for additional worth development, although. Some buyers say just some months; others, a yr or extra.

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Momentum investing could be complemented with different components comparable to worth, development, or dividend investing, serving to guarantee buyers don’t find yourself merely shopping for shares at excessive costs, solely to see them fall thereafter.

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About Michael McCullough

Michael is a monetary author and editor in Duncan, B.C. He’s a former managing editor of Canadian Enterprise and editorial director of Canada Large Media. He additionally writes for The Globe and Mail and BCBusiness.