Scorching shares: Canada’s prime performers in Q1 2026

However some Canadian mid- and large-capitalization shares had a spectacular first three months of the yr—particularly within the vitality sector. Tenaz Power Corp. led the pack with a 159% acquire, adopted carefully by HydroGraph Clear Energy at 140%.

Calgary-based Tenaz skilled a turnaround in profitability and 257% manufacturing development in 2025 largely because of its profitable acquisition and integration of pure fuel properties within the Dutch North Sea. It additionally produces oil and fuel in central Alberta. Vancouver-based HydroGraph is a pre-commercial refiner and producer of graphene and different nanomaterials utilizing a proprietary course of. Its inventory has soared since January on the energy of regulatory approvals within the U.S., pushing it into the mid-cap area.

Spartan Delta Corp. of Calgary, an oil producer centered on Alberta, got here in a extra distant third with a nonetheless spectacular 80% rise in its inventory worth. Seven of the highest 10 performers have been within the vitality sector—9 for those who embrace HydroGraph and 5N Plus of Saint-Laurent, Que., each of which have main market potential in vitality storage. They featured built-in oil producers Cenovus Power and Imperial Oil. In all, 16 large- and mid-cap shares rose greater than 50% in worth in Q1, their ranks together with the blue chips Suncor Power Inc. and Canadian Pure Sources Ltd.

Immediately or not directly, all of those corporations benefited from the disruption of oil and fuel shipments by means of the Strait of Hormuz off Iran and ensuing commodity worth will increase.

One other Q1 winner was Vancouver-based chemical firm Methanex Corp., which produces the gasoline additive methanol. It rose almost 60% within the first quarter regardless of falling 4.8% on the final day of the interval. That illustrates how profitable buyers on this atmosphere should have the abdomen to face up to volatility.

Listed below are the Canadian shares with a market capitalization of $2 billion or extra that carried out greatest throughout Q1 2026:

There was no overlap between this quarter’s prime 10 and the leaders from the earlier quarter. This demonstrates that, although momentum is a demonstrated think about equities funding, previous efficiency just isn’t a predictor of future returns.

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 Broad Media. He additionally writes for The Globe and Mail and BCBusiness.