TSX Weekly Gainers & Losers (Week Ending January 3rd, 2025)

• Canadian markets started 2026 on a cautious note, with the TSX slightly lower on the week as investors reassessed growth and rate expectations after a strong 2025.

• Canada’s economy has shown surprising resilience, particularly in employment, but interest rates are already low at 2.25%, leaving the Bank of Canada on hold as real returns on cash fade.

• Overall, the outlook supports gradual rotation within the TSX and a focus on diversified equities and bonds rather than cash.

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Here's a summary of the top-performing and underperforming stocks on the Toronto Stock Exchange (TSX) over the past week:

📈 Top Gainers

Symbol	Name	Last Price (CAD)	% Change
CCO-T	Cameco Corp	$135.36	🟩🟩🟩 +7.70%
BBD-A-T	Bombardier Inc Cl A Mv	$240.27	🟩🟩🟩 +3.20%
HUT-T	Hut 8 Corp	$70.39	🟩🟩🟩 +11.52%
BBD-B-T	Bombardier Inc Cl B Sv	$240.69	🟩🟩🟩 +3.08%
MU-T	Micron CDR (CAD Hedged)	$70.35	🟩🟩🟩 +10.28%

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📉 Top Decliners

Symbol	Name	Last Price (CAD)	% Change
CSU-T	Constellation Software Inc	$3,239.07	🟥🟥 -1.89%
TRI-T	Thomson Reuters Corp	$173.66	🟥🟥 -4.12%
FSV-T	FirstService Corp	$207.38	🟥🟥 -2.84%
SHOP-T	Shopify Inc	$216.13	🟥🟥 -2.20%
DSG-T	Descartes Systems Group	$116.96	🟥🟥 -2.87%

• Uranium Energy Corp shares jumped about 10% as uranium stocks rallied to start 2026, driven by improved sector sentiment after Denison Mines signaled readiness to move forward with its Phoenix uranium project. Strong uranium price indicators near US$81 per pound, robust balance sheets, and renewed focus on permitting and supply-chain security lifted the entire uranium group, including Cameco and Energy Fuels.

• Constellation Software is highlighted as having a strong and manageable balance sheet, with net debt of about US$2.2 billion—just 1.1× EBITDA—and solid interest coverage, supported by robust cash generation. Strong EBIT growth and free cash flow exceeding earnings suggest the company can comfortably service its debt, making its financial position relatively low risk despite higher absolute liabilities.