Mining Sector Surges and Technology Issuers Bounce Back in TSX Venture Exchange's 2024 Venture 50 Ranking
Annual flagship program highlights the role that
The Venture 50 showcases TSXV issuers across five sectors: Energy, Mining, Clean Technology and Life Sciences,
"The Venture 50 ranking is a true indicator of investor confidence in the capabilities of Canadian companies and our public markets," said
This year's companies delivered an average share price appreciation of 121% and saw an average market capitalization increase of 248%, a significant boost from last year's performance. In fact, as at
Canadian companies representing four provinces make up nearly all (47 of 50) of this year's ranking, demonstrating how important TSXV is to
"We congratulate each company on this year's list. The Venture 50 continues to demonstrate the importance of the Exchange in providing access to public venture capital for growth-stage companies," added Anastasopoulos.
Highlights from across the sectors include:
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Precious metal resurgence: Four of the mining companies on this year's list are focused on precious metals, supported by strength in the price of gold in 2023. Investors took note of issuers leveraging management experience in friendly jurisdictions, like
Canada andLatin America . -
Importance of energy transition: Investors saw value in companies supporting energy transition and decarbonization – whether it was mining companies focused on critical minerals, or clean tech companies manufacturing electric cargo vans or transforming organic waste into renewable energy.
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Technology makes a comeback: High interest from investors in the technology sector, as it bounced back with 224% average market cap appreciation and 178% average share price increase – compared to 20% and 12% last year, respectively.
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International reach: 16 of the companies on this year's list have operations outside of
Canada , in markets fromEurope toSouth America andAfrica , showing the global nature and impact of Canadian investment. -
Surging acquisitions: Six of the top 10 companies in the diversified industries category are holding companies focused on acquisitions of public or private companies, opening new opportunities for investors looking to invest in businesses that they may not have had access to otherwise.
- Graduates: Three companies (G Mining Ventures, Patriot Battery Metals, Satellos Bioscience) featured on this year's list have graduated to TSX, which showcases the growth opportunity the unique, two-tiered ecosystem continues to offer to publicly listed companies.
The top-performing 2024 Venture 50 companies from each sector are as follows:
Mining |
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Energy |
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Technology |
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Clean Tech and Life Sciences |
Westbridge Renewable Energy |
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For detailed results and further information about the ranking methodology, visit: www.tsx.com/Venture50.
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