The Toronto Inventory Trade’s highest yearly return within the final 10 years is 21.7%, recorded in 2021. As of October 1, 2025, Canada’s important inventory index is up 21.7% year-to-date. The essential supplies sector, which is the top-performing sector, has a hefty acquire of 79.2%.

Brian Belski, the chief funding strategist at BMO, forecasts the TSX closing the yr at 31,500 factors (at present 30,107.67). He predicted in mid-2024 that Canadian shares would enter a chronic interval of outperformance.

The bull run this yr resulted in a number of report highs, with mining shares main the recent streak. In the event you’re asking what the highest Canadian inventory to purchase with $500 proper now could be, one identify stands out.

I Am Gold

IAMGOLD (TSX:IMG) is among the many high-flyers in 2025. At $18.20 per share, the market-beating return heading into This fall 2024 is sort of 145%. Had you invested $500 at year-end 2024, your cash could be price $1,224.76 right now.

This mid-cap inventory was named to the 2025 TSX30, the annual rating of the top-performing Canadian shares. IAG ranked thirteenth, delivering a share worth appreciation of 385% (dividend-adjusted) over a three-year interval.

Fashionable gold producer

Renaud Adams, President and CEO of IAMGOLD, stated the TSX30 achievement is a testomony to the group’s dedication. The popularity additionally validates IAMGOLD’s emergence as a number one Canadian-focused trendy gold producer.

The $10 billion intermediate gold producer and developer has working mines in North America and West Africa. Its partnership with Sumitomo Metallic Mining within the Côté Gold in Ontario guarantees to be one of many nation’s largest gold mines. Furthermore, the large-scale open-pit gold mine, with a remaining mine lifetime of 18 years, might be a mannequin for contemporary mining.

IAMGOLD’s Westwood Gold Mine (Quebec) has a robust monitor report of useful resource conversion in addition to promising potential for future growth. The Essakane Gold Mine (Burkina Faso), the sixth-largest gold mine in West Africa, actively invests in native improvement, particularly in agriculture, schooling, and well being.

Additionally, as a member of the Mining Affiliation of Canada (MAC), IAMGOLD participates within the In the direction of Sustainable Mining (TSM) initiative in any respect its operations.

Monetary and working efficiency

Within the first half of 2025, revenues elevated 46% year-over-year to $1.1 billion, whereas internet earnings declined 15% to $118.4 million in comparison with the identical interval in 2024. Nonetheless, mine web site free money circulate (FCF) rose 50% to $280.1 million from a yr in the past.

Complete attributable manufacturing within the first two quarters reached 334,000 ounces. The quantity might rise by 20% to 45% to 400,000 and 485,000 ounces. Thus, the corporate is on monitor to realize its full-year manufacturing steerage of 735,000 to 820,000 ounces.

Strategic funding

Adams sees an thrilling time forward. Moreover the potential to generate vital money flows and the expansion potential of the Canadian portfolio, IAMGOLD can reduce monetary leverage or debt to unlock vital worth.

In the meantime, many market analysts imagine the gold rush won’t come to an finish anytime quickly. So long as gold costs hold rising to new highs, count on safe-haven property, particularly IAMGOLD, to soar larger. Your $500 funding right now might greater than double within the close to time period.