The TSX Stocks That Dominated 2024 With Triple-Digit Gains

The TSX Composite Index shines in 2024, but these five stocks soared to new heights, redefining investor success stories.

Editorial Team (ET)July 26, 2025

2024 has been a banner year for Canadian investors, with the S&P/TSX Composite Index climbing nearly 18%. However, some stocks left the broader index in the dust, achieving triple-digit growth that stunned analysts and investors alike. These companies, representing diverse industries, have become the year's brightest stars on the Toronto Stock Exchange (TSX). Here are five standout performers that reshaped market narratives in 2024.

Medicenna Therapeutics: Cancer Immunotherapy Breakthroughs

Toronto-based Medicenna Therapeutics (MDNA.TO) emerged as a leader in biotech innovation, specializing in immunotherapy treatments for cancer. The company’s share price surged a staggering 312%, skyrocketing from $0.41 in late 2023 to $1.73 by December 27. Its groundbreaking developments and strategic partnerships fueled investor confidence, boosting its market cap to $135.2 million.

The buzz around Medicenna reflects growing optimism for the company’s ability to revolutionize oncology treatments, capturing the attention of both institutional and retail investors.

Intermap Technologies: Geospatial Data on the Rise

Intermap Technologies (IMP.TO) capitalized on increasing global demand for geospatial intelligence. With applications spanning natural resources, defense, and urban planning, the company’s share price soared by 311%, jumping from $0.60 to $2.59.

Intermap’s expansion into critical markets and innovative solutions bolstered its market cap to $136.9 million. This growth highlights the growing role of geospatial data in addressing complex global challenges, making Intermap a stock to watch in the tech-driven economy.

Perpetua Resources: Critical Minerals Dominate

Mining giant Perpetua Resources (PPTA.TO), headquartered in Idaho, gained investor favor thanks to its Stibnite Gold Project. This venture includes the U.S.’s sole reserve of antimony, a critical mineral essential for semiconductors and renewable technologies.

With its stock climbing 285%, from $4.24 to $16.12, and a market cap of $1.131 billion, Perpetua is solidifying its role in North America’s strategic mineral supply chain. This growth reflects a broader push for energy independence and secure supply lines, underscoring the geopolitical significance of mining companies in 2024.

Anaergia: Sustainability Meets Profitability

Burlington-based Anaergia (ANRG.TO) made waves in the sustainability sector, transforming organic waste into renewable energy, clean water, and fertilizer. Its stock leapt 260%, moving from $0.25 at the start of the year to $0.90. With a market cap of $152.3 million, Anaergia’s innovations align perfectly with global climate goals, driving demand for its eco-friendly solutions.

This performance highlights the growing market appetite for green technology companies that address critical environmental challenges while delivering robust returns.

Celestica: Tech and Data Center Boom

Toronto’s tech stalwart Celestica (CLS.TO) rounded out the year’s top performers, with its share price vaulting 253%, from $38.25 to $137.10. The company’s expertise in switching technology for data centers positioned it as a key player in the ongoing digital transformation.

With a market cap of $15.95 billion, Celestica’s growth mirrors the expansion of data-driven industries and the increasing reliance on cloud-based technologies. Its strong performance underscores the sector’s resilience and potential for long-term growth.

The Broader Market Context

The TSX Composite’s 18% rise in 2024 reflects a year of recovery and growth. However, the extraordinary gains of these five companies demonstrate the outsized potential of niche industries, from biotech to green energy and tech innovation. Investors with a keen eye for emerging trends reaped substantial rewards, solidifying the importance of strategic stock selection.

Conclusion

2024 proved that the TSX isn’t just about steady growth—it’s a platform for groundbreaking companies to shine. Whether transforming waste into energy, redefining cancer treatments, or securing critical minerals, this year’s top-performing stocks have redefined success. As we enter 2025, these companies are setting the stage for the next wave of innovation and investment opportunities.

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