Canada’s primary benchmark index has kept pace with the gold rush as investors flock towards safe-haven assets. The basic materials sector continues to drive the TSX’s blistering bull run, up 70.7% year to date. Investors seeking certainty can consider rebalancing and taking positions in gold stocks that dominate the TSX.
Income and growth
Lundin Gold (TSX:LUG) joined the 2025 TSX30 Ranking, the seventh edition of the flagship program for Canada’s 30 top-performing stocks. LUG placed second among the high flyers, owing to its +775% divided-adjusted share price performance over a three-year period.
At $85.42 per share, current investors enjoy a 190.16%-plus return thus far in 2025. The $21.7 billion mining company also pays a generous 4.38% dividend. This gold stock is a good option if you’re investing for both income and growth.
Ron Hochstein, CEO of Lundin Gold, said, “We are incredibly proud to be named among the top companies on the TSX 30, and especially to be recognized as the second-place performer. This recognition affirms our position as a leading global gold producer, and we are confident in our ability to continue building on this momentum for years to come.”
In the first six months of 2025, revenue and net income rose 53% and 117% year over year to US$809.2 million and US$350.2 million, respectively. Free cash flow (FCF) reached US$406.4 million compared to -US$41.2 million a year ago. Clearly, the financial results are reflected in the stock’s performance.
Shining moment
Avino Silver & Gold Mines (TSX:ASM) is now on investors’ radars due to its astronomical return (+394% year to date) and inclusion in the TSX30 List (rank fifth in 2025). The current share price is $6.22. Had you invested $5,000 on year-end 2024, your money would be worth $24,682.54 today.
This $923.4 million miner operates in Mexico, primarily exploring for and producing silver. The Avino Mine is the core asset, with two development projects (La Preciosa and Oxide Tailings), both of which are future silver production assets and growth catalysts.
In the first half of 2025, net income ballooned by 361% to US$8.5 million versus the same period in 2024. FCF was US$3.4 million, representing a 1,000% jump from a year ago. From one to three producing mines soon, Avino forecasts significant production growth by 2029 (eight million tons).
Canadian-focused miner
New Gold (TSX:NGD), a $7.6 billion Canadian-focused intermediate gold mining company, is the third option if you want exposure to precious metals. Its Rainy River Mine in Ontario produces gold and silver. The second core asset, New Afton Mine in B.C., is a gold-copper mine.
This mid-cap stock is also a 2025 TSX30 winner, ranking in 11th place. At $9.50 per share, NGD boasts a market-beating +164.62% year-to-date gain. In the second quarter of 2025, the company and Rainy River reported a record quarterly FCF of US$62.5 million and US$45 million, respectively. For the first half of 2025, net earnings climbed 441% year over year to US$51.9 million.
Its president and CEO, Patrick Godin, said that New Gold has a clear path toward increasing production and declining costs. It should lead to strong and sustained FCF generation.
Market movers
Lundin, Avino, and New Gold are huge market movers in 2025. These gold stocks will likely sustain their dominance and deliver substantially higher returns compared to current levels.
