Canadian stocks opened the new week in the red as the tug-of-war between bulls and bears kept the broader market steady ahead of key rate decisions and corporate earnings reports. The S&P/TSX Composite Index slipped by 89 points, or 0.3%, to settle at 27,405 — marking its worst single-day performance in over a week.
Sharp declines in metals prices across the board pressured mining stocks. Although healthcare and energy stocks showed some resilience, they weren’t enough to offset broader market weakness. Most sectors ended the day lower, with materials, real estate, and industrials leading the decline.
Top TSX Composite movers and active stocks
New Gold (TSX:NGD) dived 6% to $5.69 per share, making it the worst-performing TSX stock for the day. The selloff in NGD stock came despite its strong second-quarter results, with revenue jumping 41% year over year and free cash flow hitting a record US$63 million. The company’s gold production reached 78,595 ounces, keeping the company on pace with its annual guidance.
Last quarter, New Gold’s Rainy River mine even posted a record production month in June. However, the market may be reacting to the mine’s slower-than-planned first-half ramp-up and high all-in sustaining costs of $1,393 per ounce — both of which could raise questions about cost pressures and execution risk heading into the second half of 2025. Despite the recent drop, NGD stock is still up 59% on a year-to-date basis.
Orla Mining, G Mining Ventures, and Torex Gold were also among the bottom performers on the Toronto Stock Exchange, with each falling by at least 3.7%.
On the flip side, Baytex Energy, Cenovus Energy, EQB, and North West Company climbed by over 3.5% each, making them the day’s top-performing TSX stocks.
Based on their daily trade volume, Cenovus Energy, Baytex Energy, Whitecap Resources, Manulife Financial, and TD Bank were the five most active stocks on the exchange.
TSX today
Commodity prices were largely mixed in early Tuesday morning trading, with oil and natural gas showing modest gains while gold and copper continued to retreat. This divergence could lead to another flat opening for the resource-heavy TSX index today.
While no major domestic economic releases are due, Canadian investors will closely monitor the important consumer confidence and job openings data from the United States this morning.
On the corporate events front, several TSX-listed companies, including George Weston, Secure Energy Services, First Capital REIT, Intact Financial, Allied Properties REIT, Boardwalk REIT, and Toromont Industries, will announce their latest quarterly results today, which could keep their shares active throughout the session.
Market movers on the TSX today
