Hot Stocks: Canada’s Top Performers in Q4 2025

Toronto-based Sigma Lithium Corp., which operates lithium mines in Brazil, led the way in which, nearly doubling in value within the three months ended Dec. 31, 2025. The performance reflected strong execution—net sales rose 69% quarter-over-quarter and 36% year-over-year—but additionally renewed investor interest in lithium, a key ingredient in rechargeable batteries that’s critical to the energy transition.

Vancouver-based Aris Mining got here in second with a return of 61.9%, followed by Toronto-based Discovery Silver Corp. with 58.9%. Aris is a gold miner in Colombia whose shareholders include mining magnates Frank Giustra, Ian Telfer and Neil Woodyer. During the quarter, the Company consolidated its interest within the Soto Norte property and was added to the S&P/TSX Composite in September.

With the backing of mining investor Eric Sprott, Discovery Silver acquired the Porcupine Complex near Timmins, Ontario, from Newmont Corp. in 2025. adding to a listing of promising assets that features the Cordero project in Mexico. Discovery and Aris were among the many top seven precious metals-related stocks last quarter, including six mining corporations and the Sprott Physical Silver Trust, an investment vehicle for investors looking for exposure to silver bullion.

By comparison, the 218-member capitalization-weighted S&P/TSX Composite, the usual benchmark for Canadian stocks, rose 5.6% within the period; the full return including dividends was 6.25%. While these numbers were lower than within the third quarter, they still outperformed the S&P 500 within the US, which returned 2.35% (2.7% total return) within the fourth quarter.

Here are Canada’s top 10 best-performing mid- to large-cap momentum stocks for the fourth quarter of 2025:

There was significant overlap between the highest performers of the fourth quarter and the highest ten Canadian mid- and large-cap performers (market cap of $2 billion or more) of the 12 months. Seven of the highest stocks from the last three months landed in the highest 10 for all of 2025. Discovery Silver shot out of the highlight with a greater than 10x return for the 12 months. The second best performing stock in your portfolio was tungsten miner Almonty Industries, with an annual return of 859%, followed by Americas Gold and Silver Corp. with 450%. Here too, mining stocks dominated excluding Groupe Dynamite.

Here are the highest 10 best-performing Canadian mid- and large-cap stocks for 2025:

Although momentum is a proven think about stock investing, past performance shouldn’t be an indicator of future returns.

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About Michael McCullough

Michael is a financial journalist and editor based in Duncan, BC. He is the previous editor-in-chief of Canadian Business and editorial director of Canada Wide Media. He also writes for The Globe and Mail and BCBusiness.