Even in a volatile year for the markets, some stocks are proving they can rise above the noise. As of late April, the TSX Composite Index is down nearly 3%, but a few Canadian stocks are continuing to surge, backed by solid fundamentals. Whether you’re looking to rebalance your portfolio or simply want to add some strength amid the chaos, identifying which stocks are thriving right now could be a smart move.
In this article, I’ll highlight three surprising Canadian stocks that are outperforming the market and explain why they’re worth watching in 2025.
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G Mining Ventures stock
One of those surprising outperformers in 2025 is G Mining Ventures (TSX: GMIN). This Brossard-based gold miner currently trades at $19.89 per share with a $4.5 billion market cap. GMIN stock has skyrocketed 143% over the past year.
That momentum is mainly backed by the Canadian miner’s solid results. In its first full quarter of commercial production at the Tocantinzinho Mine (three months ended December 2024), G Mining posted US$58 million in adjusted net profit and US$77.9 million in EBITDA (earnings before interest, taxes, depreciation, and amortization), with all-in sustaining costs at a competitive US$862 per ounce. It also generated US$53 million in free cash flow for the quarter, showing strong operational efficiency from the start.
In addition, G Mining is already pushing forward with its Oko West and Gurupi projects, aiming to more than double production. With US$141 million in cash, this gold stock has the potential to continue rallying.
Innergex Renewable Energy stock
The second rallying TSX stock you may want to keep an eye on this year is Innergex Renewable Energy (TSX: INE). This Longueuil-based renewable power producer operates a mix of hydro, wind, solar, and energy storage facilities across four countries. INE stock has climbed an impressive 67% over the past year, currently trading at $13.51 per share, with a market cap of $2.7 billion. Investors also get a 2.7% annualized dividend yield.
In the fourth quarter of 2024, Innergex delivered over $68 million in adjusted net profit, reflecting a huge YoY (year-over-year) jump due mainly to tax credit recoveries and stronger power production. Similarly, its adjusted EBITDA rose 15% YoY, and revenue was up 9%, backed by the launch of the Boswell Springs wind farm and strong demand in Chile.
With over 10 gigawatts in its project pipeline, major contracts secured, and new builds underway, Innergex is doubling down on growth — making it a reliable stock for long-term investors.
Sprott stock
And speaking of stocks that are defying expectations in 2025, the next is Sprott (TSX: SII). This Toronto-based asset manager focuses on precious metals and critical materials, offering a range of investment products. After surging by 37% over the last year, SII stock trades at $74.79 per share with a market cap of $1.9 billion and comes with a 2.4% annualized dividend yield.
In the fourth quarter of 2024, Sprott delivered a 21% YoY jump in adjusted net profit, reaching US$11.7 million due to stronger inflows and fee crystallization in some of its specialty funds. The company’s revenue also rose on the back of increased management and performance fees, while commissions dipped a bit due to the wind-down of its former broker-dealer business. What makes Sprott even more attractive is its aggressive push into critical materials and uranium exchange-traded funds. With US$33.5 billion in assets under management and seven straight years of double-digit growth, SII stock’s momentum shows no signs of slowing.
