Paramount Resources, Ltd. (TSX:POU) has topped this year’s Toronto Stock Exchange (TSX) annual ranking of the top 30 performing stocks over a three-year period, known as the TSX30.
The oil company saw its share price increase by nearly 1,913% over the last three years.
Notably, the natural resources sector maintained a robust presence for the second consecutive year, with the oil and gas sector accounting for over 50% of the list.
The companies featured on this year's list have recorded an average share price appreciation of 553%, contributing to over $120 billion in value creation, according to a statement.
Notable highlights include the presence of seven mining sector companies, which achieved an impressive average price increase of 615% along with a substantial 442% market capitalization surge. Additionally, the industrial products & services sector is strongly represented with seven companies on the list, collectively demonstrating remarkable performance with an average price increase of 423% and a 425% increase in market capitalization.
Rounding out the top five are NuVista Energy (up 1,279%), Filo Corp (1,217%), China Gold International Resources Corp (703%) and Birchcliff Energy (650%).
“This year's TSX30 emphasizes the critical role that Canadian resource companies continue to play at home and abroad, as well as the importance of oil and gas in the world's energy mix for years to come," said Loui Anastasopoulos, CEO, Toronto Stock Exchange.
"Canada has historically been a global leader in energy and we are now establishing a similar position in energy transition.”
For a full list of the Top 30, click here.