After ending the previous year with solid 18% gains, the TSX Composite Index has kicked off 2025 on a strong note as the Canadian market benchmark surged by 3.3% in January to reach a fresh record high. Even as macroeconomic uncertainties and concerns about a global trade war could keep investors on edge in the near term, many TSX stocks continue their strong uptrend as investors continue to show confidence in their long-term growth prospects.
In this article, let’s take a deep dive into three top TSX stocks that have been soaring higher with no signs of slowing down.
Lundin Gold stock
The first stock in this list of TSX winners is Lundin Gold (TSX:LUG). This Vancouver-based mining firm operates the Fruta del Norte gold mine in Ecuador, which is one of the world’s highest-grade gold mines. LUG stock has been on fire of late, soaring 131% in the last year to currently trade at $37.64 per share with a market cap of $9.0 billion. It also has an annualized dividend yield of 2.2%, making it an attractive stock pick even for income investors.
The company is continuing to post record-breaking financial performance, with its revenue rising 53% YoY (year over year) in the quarter ended in September 2024 to US$323 million. More importantly, its adjusted earnings last quarter jumped by 195% YoY to US$0.56 per share.
With a process plant expansion expected to increase its throughput to 5,000 tonnes per day and a massive 80,000-metre exploration drilling program underway, Lundin Gold is doubling down on growth, positioning it as an unstoppable TSX stock to buy now.
Kinross Gold stock
Now, let’s talk about another TSX stock that’s been on fire: Kinross Gold (TSX:K). If you don’t know it already, it’s a global senior gold miner with operations across the U.S., Brazil, Chile, Mauritania, and Canada.
Lately, its stock has been soaring, climbing 122% over the last 12 months to currently trade at $16.44 per share, giving it a market cap of $20.1 billion. While it may not be the highest-yielding dividend stock out there, Kinross stock still offers a 1% annualized dividend yield.
In the third quarter of 2024, the company’s revenue surged 30% YoY to US$1.4 billion, while adjusted net profit more than doubled to US$299 million. Similarly, Kinross also posted a record free cash flow of US$414.6 million last quarter, which allowed it to pay down US$350 million in debt.
As its Manh Choh project ramps up and the Great Bear gears up to become a potential 500,000-ounce-per-year powerhouse, Kinross stock could continue to surge.
CES Energy stock
CES Energy Solutions (TSX:CEU) is another top TSX winner that has been delivering exceptional gains. Over the past year, CES stock has skyrocketed 115%, currently trading at $8.57 per share with a market cap of $1.9 billion. At this price, it has an annualized dividend yield of 1.4%.
In its latest reported quarter, CES delivered an impressive 13% YoY jump in revenue to $606.5 million, setting a new all-time high for the company. Even more notable was its consistently improving profit margins. In addition to robust demand for its services, CES Energy’s focus on strong free cash flow generation, even amid tough economic times, could help its stock continue to soar in the years to come.