Best- and Worst-Performing Stocks of May 2024

Bombardier and Brookfield Corporation rank among the best stocks for the month, while the worst include OpenText and Shopify.

Bella Albrecht 3 June, 2024 | 11:31AM
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Illustration of generic coins floating over graph with the number '5' in the centerThe Morningstar Canada Large-Mid Cap Index rose 2.7% in May amid a rally in the utilities sector. The large-mid index tracks the performance of the top 90% of the Canadian investable universe by market cap, and each month we screen from among the stocks in this index to find the best- and worst-performing companies. Data in this article is sourced from Morningstar Direct.

Best-Performing Stocks of May 2024

  • Bombardier BBD.B
  • Brookfield Corporation BEPC
  • Kinross Gold K
  • Cameco CCO
  • Pan American Silver PAAS

Worst-Performing Stocks of May 2024

  • OpenText OTEX
  • Shopify SHOP
  • Boyd Group Services BYD
  • Restaurant Brands International QSR
  • Air Canada AC

Metrics for the Best-Performing Stocks

Bombardier BBD.B

  • Sector: Industrials
  • Industry: Aerospace & Defense
  • Economic Moat: Narrow

Bombardier climbed 46.3% in May, leaving the stock up 70.5% for the year.  The company's stock has a Morningstar Rating of 3 stars and is trading near its fair value estimate of C$92.00.

Brookfield Corporation BEPC

  • Sector: Utilities
  • Industry: Utilities - Renewable
  • Economic Moat: None

Brookfield Corporation rose 35.9%, but shares are flat from one year ago, having fallen only 0.8%. Shares are 10.1% below their last high on June 5, 2023. The company's stock has a Morningstar Rating of 2 stars and is trading at a 10% premium to its fair value estimate of C$39.00.

Kinross Gold K

  • Sector: Basic Materials
  • Industry: Gold
  • Economic Moat: None

Kinross Gold climbed 25.1%, bringing the stock up 76.6% over the past year.  The company's stock has a Morningstar Rating of 2 stars and is trading at a 46% premium to its fair value estimate of C$7.60.

Cameco CCO

  • Sector: Energy
  • Industry: Uranium
  • Economic Moat: Not Rated

Cameco advanced 20.4%, having risen 100.5% from one year ago.  The company's stock has a quantitative Morningstar Rating of 3 stars.

Pan American Silver PAAS

  • Sector: Basic Materials
  • Industry: Gold
  • Economic Moat: Not Rated

Pan American Silver surged 18.7%, having risen 48.8% from one year ago.  The company's stock has a quantitative Morningstar Rating of 3 stars.

Metrics for the Worst-Performing Stocks

OpenText OTEX

  • Sector: Technology
  • Industry: Software - Application
  • Economic Moat: Not Rated

OpenText slid 17.3% in May and declined 27.0% over the past year. Shares are 33.5% below their last high on Feb. 2, 2024. The company's stock has a quantitative Morningstar Rating of 4 stars.

Shopify SHOP

  • Sector: Technology
  • Industry: Software - Application
  • Economic Moat: Wide

Shopify fell 15.7%, but shares were still up 3.4% for the year. Shares are 35.4% below their last high on Feb. 12, 2024. The company's stock has a Morningstar Rating of 3 stars and is trading at an 18% discount to its fair value estimate of USD 72.00.

Boyd Group Services BYD

  • Sector: Consumer Cyclical
  • Industry: Personal Services
  • Economic Moat: Not Rated

Boyd Group Services slid 11.4%, leaving the stock down 7.1% for the year. Shares are 29.7% below their last high on Feb. 28, 2024. The company's stock has a quantitative Morningstar Rating of 4 stars.

Restaurant Brands International QSR

  • Sector: Consumer Cyclical
  • Industry: Restaurants
  • Economic Moat: Narrow

Restaurant Brands International fell 10.5%, leaving the stock down 2.3% for the year. Shares are 16.6% below their last high on March 13, 2024. The company's stock has a Morningstar Rating of 4 stars and is trading at a 13% discount to its fair value estimate of C$108.00.

Air Canada AC

  • Sector: Industrials
  • Industry: Airlines
  • Economic Moat: None

Air Canada slid 10.4%, leaving the stock down 15.1% for the year. Shares are 30.1% below their last high on July 20, 2023. The company's stock has a Morningstar Rating of 2 stars and is trading at a 27% premium to its fair value estimate of C$14.30.

Companies that are not formally covered by a Morningstar analyst are statistically matched to analyst-rated companies, allowing our models to calculate a quantitative star rating.

This article was generated with the help of automation and reviewed by Morningstar editors.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Bombardier Inc Registered Shs -B- Subord Vtg86.17 CAD2.28Rating
Brookfield Renewable Corp Ordinary Shares - Class A (Sub Voting)40.29 CAD-2.45Rating
Cameco Corp70.39 CAD-1.26
Kinross Gold Corp10.16 CAD-0.29Rating
Pan American Silver Corp26.93 CAD-1.39

About Author

Bella Albrecht  is an associate data journalist at Morningstar Inc. 

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