Hot Stocks: Canada’s Top Performers in Q1 2026

But some Canadian mid- and large-cap stocks had a spectacular first three months of the 12 months – particularly within the energy sector. Tenaz Energy Corp. was at the highest with a rise of 159%, closely followed by HydroGraph Clean Power with 140%.

Calgary-based Tenaz recorded a turnaround in profitability and production growth of 257% in 2025, primarily driven by the successful acquisition and integration of natural gas assets within the Dutch North Sea. It also produces oil and gas in central Alberta. Vancouver-based HydroGraph is a pre-commercial refiner and manufacturer of graphene and other nanomaterials using a proprietary process. The share price has risen sharply since January on account of regulatory approvals within the US, pushing the corporate into mid-cap territory.

Spartan Delta Corp. Calgary-based oil producer focused on Alberta got here in third with a still-impressive 80% increase in share value. Seven of the highest 10 firms were within the energy sector – nine for those who include HydroGraph and 5N Plus of Saint-Laurent, Que., each of which have big market potential in energy storage. These included integrated oil producers Cenovus Energy and Imperial Oil. In total, 16 large- and mid-cap stocks rose greater than 50% in value in the primary quarter, including blue chips Suncor Energy Inc. and Canadian Natural Resources Ltd.

All of those firms benefited directly or not directly from the disruption of oil and gas shipments through the Strait of Hormuz off Iran and the resulting increases in raw material prices.

Another winner in the primary quarter was Vancouver-based chemical company Methanex Corp., which makes the fuel additive methanol. It rose nearly 60% in the primary quarter, even though it fell 4.8% on the ultimate day of the period. This shows how successful investors must have the courage to resist the volatility on this environment.

Here are the Canadian stocks with market caps of $2 billion or more that performed best in the primary quarter of 2026:

There was no overlap between this quarter’s top 10 and the previous quarter’s leaders. This shows that while momentum is a proven think about stock investing, past performance shouldn’t be an indicator of future returns.