Despite hopes of a U.S.-China trade deal and easing inflation concerns, Canadian equities started the new week on a negative note as sharp intraday declines in gold and silver prices weighed on investor sentiment. As a result, the S&P/TSX Composite Index plunged 77 points, or 0.3%, on Monday to settle at 30,276 — ending its three-session winning streak.
Although trade-related optimism and expectations of rate cuts on both sides of the border later in the week led to renewed buying in technology and financial stocks, steep intraday losses in shares of precious metal miners dragged the TSX benchmark down.
Top TSX Composite movers and active stocks
NGEx Minerals, Energy Fuels, Aris Mining, and K92 Mining dived by at least 5.8% each, making them the worst-performing TSX stocks for the day.
Even as many mining stocks fell sharply, Perpetua Resources (TSX:PPTA) stood out as the top-performing TSX stock, with its shares surging 6.6% to $34.75 apiece. This rally in PPTA stock came after the U.S.-headquartered miner announced a major US$255 million strategic equity investment from Agnico Eagle Mines and JPMorgan Chase.
Investors cheered the news as a strong vote of confidence in Perpetua’s Stibnite gold project in Idaho, which is expected to become the only American source of the critical mineral antimony. The fresh capital injection not only strengthens the company’s financial position but also reduces its financing risks, which should help accelerate project development. After the recent gains, PPTA stock has now risen 126% so far in 2025.
Lightspeed Commerce, Lundin Mining, and MEG Energy were among the top gainers on the Toronto Stock Exchange, with each climbing by at least 3.3%.
Based on their daily trade volume, Cenovus Energy, Manulife Financial, Canadian Natural Resources, Enbridge, and Bank of Nova Scotia were the five most active stocks on the exchange.
TSX today
Precious metals extended their decline in early Tuesday trading, with both gold and silver prices slipping further amid expectations of an improved global trade environment. Given that, TSX mining stocks could remain under pressure at the open today.
While no major domestic economic releases are due, Canadian investors will closely monitor the latest U.S. consumer confidence and new home sales data this morning. These data points could provide fresh clues about the strength of the U.S. economy ahead of Wednesday’s key interest rate decisions from the Federal Reserve and the Bank of Canada.
On the corporate events front, many TSX-listed companies, including Advantage Energy, Centerra Gold, New Gold, and First Quantum Minerals, will release their latest quarterly earnings reports today after the market closing bell, which could keep their stocks in focus.
Market movers on the TSX today
