3 TSX Stocks Soaring Higher With No Signs of Slowing

These TSX stocks have already had a strong year, but the three companies look like they could just be getting started.

Amy Legate-Wolfe

Amy became interested in investing in 2018 after having her first daughter. After receiving a masters degree in journalism from Western University, she became frustrated that the finance industry remained a confusing place for Canadians like her: new parents, millennials, and other young people who needed to understand their finances. Now, Amy focuses on tech companies and renewable energy for growth opportunities, coupling that with long-term investing strategies and equities. She also provides investors with a daily newsletter, Canada Stock Digest, for daily market updates. Before joining Motley Fool Canada, she wrote for major news organizations including HuffPost, CTVNews.ca, and CBC. When she’s not researching investing strategies, Amy’s time is pretty much monopolized by her two wild daughters, but in what little spare time she has she loves to do yoga, go on walks with her dog, and travel with her husband. Follow Amy on LinkedIn and Canada Stock Digest. Favorite Investment Quote: “October: This is one of the particularly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August and February.” – Mark Twain

Published March 13, 2025 9:00 pm EDT

| More on: AEMCLSHPS.A

The TSX has been buzzing lately, with stocks of some companies soaring higher while many others have been plummeting. Tariffs, trade wars, and more geopolitical issues are just the tip of the iceberg. Yet three companies have been on the more favourable side. Hammond Power Solutions (TSX:HPS.A), Celestica (TSX:CLS), and Agnico Eagle Mines (TSX:AEM) continue to be at the heart of the excitement. These TSX stocks have been on impressive upward trajectories, showing no signs of slowing down.

3 colorful arrows racing straight up on a black background. — Source: Getty Images

Hammond

Let’s start with Hammond Power Solutions, a company that specializes in manufacturing dry-type transformers and related magnetics. In the third quarter of 2024, HPS.A reported net earnings of $16.3 million, up from $14.4 million in the same period the previous year. Sales increased by 6.9% to $192 million during this quarter. The TSX stock’s gross margin also saw an uptick, reaching 33.8%, compared to 31.7% in the third quarter (Q3) of 2023. This growth is partly attributed to a favourable product mix and increased activity in emerging sectors such as data centres.

HPS.A has been making strategic moves to bolster its production capacity. Since 2022, the TSX stock has invested approximately $80 million in expansion efforts, including the opening of a new facility in Monterrey focused on small, low-voltage, and power-quality products. These initiatives are expected to strengthen HPS.A’s market position and address emerging industry needs. Altogether, it’s a strong TSX stock that is only getting stronger.

Celestica

Celestica is a leader in design, manufacturing, and supply chain solutions and has also been making waves. In the fourth quarter of 2024, the TSX stock reported revenue of $2.55 billion, marking a 19% increase compared to $2.14 billion in the same quarter of 2023. This growth underscores Celestica’s ability to adapt and meet evolving customer needs across various sectors, including aerospace, defence, and healthcare.

Looking ahead, Celestica’s financial outlook appears promising. The TSX stock aims to enhance profit margins through higher sales, increased production efficiency, and optimized product offerings. These strategies are anticipated to support earnings and lay a solid foundation for future stock price appreciation.

Agnico Eagle Mines

Agnico Eagle Mines, a prominent gold mining company, has had an outstanding year. The TSX stock’s price doubled over an eight-month period, driven by significant profit gains, including a 165% increase in the most recent quarter. This surge reflects Agnico Eagle’s robust earnings growth and strong market fundamentals.

In the fourth quarter of 2024, Agnico Eagle reported record quarterly adjusted net income of $632 million and operating cash flow of $1.13 billion. These impressive figures were driven by strong operational performance and favourable market conditions. The TSX stock’s future outlook remains positive, with analysts forecasting continued growth. Agnico Eagle’s strategic initiatives and solid financial performance position it well to capitalize on opportunities in the gold mining industry.

Bottom line

All together, Hammond Power, Celestica, and Agnico Eagle are three TSX stocks that have been soaring higher with no signs of slowing. The recent earnings reports and strategic initiatives underscore the strong market positions and growth potential. Investors may want to keep an eye on these companies as they continue to navigate their respective industries successfully.