Despite consistently surging commodity prices and mixed U.S. consumer inflation data, Canadian equities went sideways on Tuesday as investors continued to watch global geopolitical developments but appeared cautiously optimistic about market fundamentals. Even as the S&P/TSX Composite Index reached a fresh record high of 32,979 in intraday trading, the benchmark couldn’t maintain these gains for long, ending the session at 32,870 with a minor decline of four points from its previous closing level.
On the one hand, strong commodity prices kept driving mining and energy stocks higher. On the other hand, skepticism about stretched valuations and uncertain central bank policy continued to weigh on interest-sensitive market sectors like industrials, financials, and consumer discretionary.
Top TSX Composite movers and active stocks
G Mining Ventures (TSX:GMIN) plunged 7% to $39.04 per share, making it the worst-performing TSX stock for the day. This selloff in GMIN stock came after the Brossard-headquartered gold miner released preliminary production results for its Tocantinzinho mine in Brazil.
While G Mining posted solid fourth-quarter output of 47,346 ounces and strong full-year production of over 171,000 ounces, investors may have reacted negatively to the absence of its updated financial metrics and 2026 guidance. Notably, GMIN stock rocketed by 284% in 2025.
Ero Copper, Quebecor, and Kinaxis were also among the bottom performers on the Toronto Stock Exchange, with each slipping by at least 3.7%.
On the flip side, Enerflex, Cenovus Energy, International Petroleum, and Headwater Exploration were the day’s top-performing TSX stocks, with each climbing by at least 4.4%.
According to the exchange’s daily trade volume data, Canadian Natural Resources, Cenovus Energy, B2Gold, TD Bank, and Baytex Energy were the five most active stocks.
TSX today
TSX mining stocks are expected to get a lift at the open today as gold, silver, and copper all climbed to new record levels in early trading on Wednesday amid rising geopolitical tensions and stable demand signals.
While no major domestic economic releases are due, Canadian investors will closely monitor the latest U.S. wholesale inflation and retail sales report this morning. Depending on the outcome, these reports may either reinforce expectations for additional rate cuts in the near term or temper optimism if inflation appears stickier than anticipated.
On the corporate events side, the TSX-listed Cogeco Communications (TSX:CCA) will announce its latest quarterly financial results today after the market closing bell. Bay Street analysts expect the company to post earnings of $2.07 per share for the November quarter, with $714.3 million in revenue.
Market movers on the TSX today
