An investment growing tenfold or 1,000% seems improbable, if not incredible. Still, the Canadian stock market has produced ‘ten-baggers’ or companies whose earnings growth is strong and sustainable for years. Typically, a tenfold gain is due to price appreciation over time, combined with heightened investor sentiment.
Two TSX stocks have achieved the feat and could turn your $30,000 investment into $300,000 in a shorter timeframe. Celestica (TSX:CLS) and Lundin Gold (TSX:LUG) ranked first and second on the 2025 TSX30 List. The program is an annual ranking of 30 top-performing companies, based on dividend-adjusted share price performance over a three-year period.
The speed at which the share prices soared is mind-boggling. Had you invested $10,000 in Celestica or Lundin Gold three years ago, your money would be worth $265,800.97 or $67,945.60, respectively, today. The capital gains are astronomical and true!
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Ultimate AI stock
The artificial intelligence (AI) boom aided Celestica’s rise to fame. This high-flying Canadian tech stock is often compared to NVIDIA, the AI king of Wall Street in the US. Performance-wise, however, CLS has far superior returns than NVDA over the past three years, 2,553.7%-plus versus 1,306.3%-plus.
In the 7th edition of the TSX30 last year, Celestica ranked second. Market analysts recommend a strong buy rating for the TSX30 constituent. Their 12-month average and high price targets are $362.66 and $418.46, from the current share price of $328.53.
The $37.5 billion multinational company benefits from AI investments that drive demand for its various products as well as hardware platform solutions. Celestica empowers the AI journey of enterprises across various sectors, including aerospace and defence, communications, industrial, and many more.
Safe-haven asset
The basic materials sector accounts for 16.9% of the S&P/TSX Composite Index, second to financials in terms of sector weight. Lundin Gold, along with other metals and mining stocks, belongs in this sector. The gold stock has continued to shine brightly thus far in 2025.
As of this writing, the share price is 94.9% while the year-to-date gain is 222.4%. Furthermore, Lundin Gold is a generous dividend payer. If you invest today, you can partake in the 4.4% dividend. Its CEO, Ron Hochstein, said the second-place finish in the TSX30 affirms the company’s position as a leading global gold producer.
The $22 billion mining company owns (100%) the Fruta del Norte gold mine in southeast Ecuador. The latter is one of the world’s highest-grade, lowest-cost gold mines. Its mine life is 12 years, with probable gold reserves of approximately 5.5 million ounces.
In the first half of 2025, revenues and net income grew 53% and 117% year-over-year to US$809.2 million and US$350.2 million, respectively. Notably, free cash flow (FCF) reached US$406.4 million compared to negative US$41.2 million a year ago.
Surging gold prices have boosted the profitability and cash flows of mining companies, including Lundin Gold. Today, gold stocks are safe-haven assets amid economic uncertainty and geopolitical tensions.
High-growth investments
Celestica and Lundin Gold are likely to sustain their momentum and dominate the TSX through year-end, extending to 2026. You have the opportunity to buy high-growth stocks and see your initial investment grow 10 times over.
