Today’s Biggest Gainers and Losers On The TSX

Posted on September 20, 2019 by Dan Kent

The TSX hit record highs yet again to close out this weeks trading, and Canadian investors who’ve bought into the materials or energy sector, particularly junior energy companies, have reaped the rewards thus far.

At the start of the day, it seemed like popular Canadian stocks such as Shopify (TSX:SHOP) and Canada Goose (TSX:GOOS) were determined to finish the week on a high note, but both fell into the red as the TSX finally closed, down 1.75% and 1.85% respectively. Both these stocks have been spinning their tires as of late, and in Canada Goose’s case, is providing excellent value to prospective investors.

So, what stocks came out ahead today on the TSX?

You’ll see a lot of familiar faces if you look at yesterdays biggest movers.

First Quantum Minerals: +9.02%
Nexen Energy: +7.27%
Semafo: +7.16%
Western Forest Products: +7.03%
Endeavour Mining: +6.30%
Birchcliff Energy: +5.86%
Advantage Oil and Gas: +5.29%
Corus Entertainment: +4.90%

The Saudi Arabia supply scare has caused a mini-boom in the Canadian energy sector, but on a whole most companies traded sideways or in the red today. For junior energy companies like Birchliff, Nexen and Advantage Oil and Gas however, we saw positive movements. With material stocks, we see a continuing trend as the price of gold increased yet again today to $1517 an ounce. 33 major material stocks were in the green today, while only 13 were in the red, with the biggest loser being Teck Resources (TSX:TECK.B) at -2%.

How about the stocks that lost the most ground?

Look no further than the Canadian cannabis industry and a few major energy players.

CES Energy Solutions: -4.65%
Canopy Growth Corporation: -3.78%
Superior Plus Corp: -2.37%
Aurora Cannabis: -2.34%
Inter Pipeline Ltd: -2.29%
Seven Generations Energy: -2.24%
CCL Industries Inc: -2.15%
Bombardier: -2.08%

Canopy Growth (TSX:WEED) continues to take a beating as negative sentiment towards the cannabis industry continues, and major players in the oil and gas industry such as Inter Pipeline (TSX:IPL) and Seven Generations Energy (TSX:VII) took a hit.

It will be interesting to see if the TSX can carry forward this momentum headed into next week, as it is currently returning nearly 18% on the year, a rare outing for an index that typically under performs compared to its American counterparts. Maybe buying stocks in Canada is going to be a trend moving forward?

Disclaimer: The writer of this article or employees of Stocktrades Ltd may have positions in securities listed in this article. Stocktrades Ltd may also be compensated via affiliate links in the post below.

Dan Kent

About the author

An active dividend and growth investor, Dan has been involved with the website since its inception. He is primarily a researcher and writer here at Stocktrades.ca, and his pieces have numerous mentions on the Globe and Mail, Forbes, Winnipeg Free Press, and other high authority financial websites. He has become an authority figure in the Canadian finance niche, primarily due to his attention to detail and overall dedication to achieving the highest returns on his investments. Investing on his own since he was 19 years old, Dan has compiled the experience and knowledge needed to be successful in the world of self-directed investing, and is always happy to bring that knowledge to Stocktrades.ca readers and any other publications that give him the opportunity to write. He has completed the Canadian Securities Course, manages his TFSA, RRSPs and a LIRA at Questrade, and has compiled a real estate portfolio of his primary residence and 2 rental properties, all before his 30th birthday.