The Best-Performing TSX Stocks of 2024: Are They Still Worth Buying Now?

Two of the best-performing TSX stocks of 2024 have the potential to continue surging in the years to come.

| More on:
An investor uses a tablet

Source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s premium investing services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The TSX Composite Index has jumped by a strong 18.3% so far in 2024, making this a great year for Canadian investors. While most discussions about the market’s top performers tend to focus on the absolute biggest gainers, I want to take a slightly different approach in this article. Instead of simply looking at the top of the leaderboard, I’ll highlight two of the top 10 performers, CI Financial (TSX:CIX) and Aritzia (TSX:ATZ). These two standout stocks not only shone in 2024 but also have the potential to deliver strong returns in the years to come, in my opinion, based on their solid fundamentals and long-term outlook.

Let’s dive into why CI Financial and Aritzia have been two of the TSX’s best-performing stocks this year and why they could still deliver strong returns in 2025 and beyond.

CI Financial stock

CI Financial stock has more than doubled in value so far in 2024, currently trading with 108% year-to-date gains at $30.91 per share with a market cap of $4.5 billion. These gains make CIX the best-performing TSX stock of 2024 from the financial sector.

This impressive run in its share price can be attributed to several key fundamental factors. For starters, the company achieved a record $518.1 billion in total assets as of September 30, up nearly 23% YoY (year over year). Despite an uncertain macroeconomic environment, this growth clearly reflects CI’s ability to navigate market challenges while capitalizing on its diversified wealth and asset management business.

Created with Highcharts 11.4.3Aritzia + CI Financial PriceZoom1M3M6MYTD1Y5Y10YALLwww.fool.ca

In the third quarter, CI’s total revenue jumped 27.4% from a year ago due to the strong performance of its U.S. wealth management business. Higher revenue, along with its continued focus on cost-control measures, helped the company post a strong 19.8% YoY increase in adjusted quarterly earnings to $0.97 per share, beating Street analyst expectations of $0.89 per share.

As CI Financial continues to expand its footprint in high-growth markets and deliver robust financial results, its stock could sustain strong momentum in the years to come. Besides that, its annualized dividend yield of 2.6% makes CIX stock even more appealing for long-term income-focused investors.

Aritzia stock

Aritzia is currently 2024’s best-performing TSX stock from the retail sector, with its shares soaring 95.3% year-to-date to $53.72 per share, giving the company a market cap of $6.1 billion.

In the most recent reported quarter (ended in September 2024), Aritzia posted a 15.3% YoY rise in total revenue to $615.7 million. Despite a softer consumer spending environment, an increase in its revenue was mainly driven by its U.S. operations, which saw a remarkable 23.9% YoY jump in sales to $345.4 million. With this, the U.S. market accounted for more than half of its total quarterly sales.

On the profitability side, lower markdowns and improved inventory management also helped Aritzia deliver an expanded gross profit margin of 40.2% last quarter compared to 35% a year ago. Besides its consistently increasing sales in the high-demand U.S. market, the company’s plans to launch an enhanced website and open new boutiques could continue to drive stronger financial growth in the coming years and drive its share prices even higher.

Should you invest $1,000 in RioCan right now?

Before you buy stock in RioCan, consider this:

The Motley Fool Stock Advisor Canada analyst team just identified what they believe are the Top Stocks for 2025 and Beyond for investors to buy now… and RioCan wasn’t one of them. The Top Stocks that made the cut could potentially produce monster returns in the coming years.

Consider MercadoLibre, which we first recommended on January 8, 2014 ... if you invested $1,000 in the “eBay of Latin America” at the time of our recommendation, you’d have $20,697.16!*

Stock Advisor Canada provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month – one from Canada and one from the U.S. The Stock Advisor Canada service has outperformed the return of S&P/TSX Composite Index by 29 percentage points since 2013*.

See the Top Stocks * Returns as of 3/20/25

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Jitendra Parashar has positions in Aritzia. The Motley Fool has positions in and recommends Aritzia. The Motley Fool has a disclosure policy.

Confidently Navigate Market Volatility: Claim Your Free Report!

Feeling uneasy about the ups and downs of the stock market lately? You’re not alone. At The Motley Fool Canada, we get it — and we’re here to help. We’ve crafted an essential guide designed to help you through these uncertain times: "5-Step Checklist: How to Prepare Your Portfolio for Volatility."

Don't miss out on this opportunity for peace of mind. Just click below to learn how to receive your complimentary report today!

Get Our Free Report Today

More on Stocks for Beginners

Canada day banner background design of flag
Tech Stocks

The Top Canadian Stock to Buy With $5,000 in 2025

There are few Canadian stocks out there that offer the outlook of this tech stock, bound for more growth.

Read more »

Cannabis business and marijuana industry concept as the shadow of a dollar sign on a group of leaves
Stocks for Beginners

Buy the Dip Before It’s Too Late: This Canadian Stock Won’t Stay Cheap Forever

Investors might think that cannabis stocks are out, but this one could be the top Canadian stock to consider.

Read more »

a person watches a downward arrow crash through the floor
Dividend Stocks

Is This Correction Your Chance? Top 4 Canadian Dividend Stocks on Sale

Stocks may be down, but now is your chance to get some of these top dividend stocks on sale.

Read more »

worry concern
Stocks for Beginners

Got $2,000? Buy These 2 Canadian Stocks as Trump Tariffs Rock the Market

There are two Canadian stocks that have continued to do well even amidst this turmoil, so let's take a look.

Read more »

dividends grow over time
Stocks for Beginners

The Top Canadian Stocks to Buy Right Away With $4,000

If you only have $4,000 to invest, then these Canadian stocks are some of the best options out there.

Read more »

A shopper makes purchases from an online store.
Tech Stocks

Buy the Dip on the Return of Recession Stocks?

If a recession comes back, there are some stocks that could fair well afterwards. And this is one of the…

Read more »

Man holds Canadian dollars in differing amounts
Stocks for Beginners

Cash Is King? Think Again During Today’s Market Dip

Sure, cash is great, but during a market dip investors may want to consider using some of the cash to…

Read more »

grow money, wealth build
Stocks for Beginners

How I’d Build a $15,000 Portfolio for Income and Growth With Canadian Value Stocks

Looking for some Canadian value stocks to buy without breaking the bank? Here's a trio to consider buying this month.

Read more »