October 2024 TSX Growth Companies With Strong Insider Ownership
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In the last week, the Canadian market has stayed flat, but it has shown impressive growth over the past year with a 21% increase and earnings forecasted to grow by 15% annually. In this environment, identifying growth companies with strong insider ownership can be particularly appealing as it often indicates confidence in long-term business prospects.
Top 10 Growth Companies With High Insider Ownership In Canada
| Name | Insider Ownership | Earnings Growth |
| Vox Royalty (TSX:VOXR) | 11.8% | 70.7% |
| Almonty Industries (TSX:AII) | 17.7% | 117.6% |
| goeasy (TSX:GSY) | 21.2% | 17.1% |
| Alvopetro Energy (TSXV:ALV) | 19.4% | 76.5% |
| VersaBank (TSX:VBNK) | 13.3% | 30.4% |
| Aritzia (TSX:ATZ) | 18.9% | 60.4% |
| Allied Gold (TSX:AAUC) | 17.7% | 73% |
| Ivanhoe Mines (TSX:IVN) | 12.3% | 70.1% |
| Medicenna Therapeutics (TSX:MDNA) | 15.4% | 57.2% |
| Alpha Cognition (CNSX:ACOG) | 17% | 69.5% |
Let's explore several standout options from the results in the screener.
Allied Gold
Simply Wall St Growth Rating: ★★★★★☆
Overview: Allied Gold Corporation, along with its subsidiaries, is engaged in the exploration and production of mineral deposits in Africa and has a market cap of CA$981.04 million.
Operations: The company's revenue segments include $142.03 million from the Agbaou Mine, $193.93 million from the Bonikro Mine, and $391.07 million from the Sadiola Mine.
Insider Ownership: 17.7%
Allied Gold is poised for significant growth, with expected annual revenue increases over 21.5% and profitability within three years, surpassing market averages. Despite recent shareholder dilution due to a CAD 192.2 million equity offering, the stock trades at a substantial discount to its estimated fair value. The Sadiola Gold Mine expansion aims to boost production significantly by 2028, supported by a $400 million investment in new infrastructure and processing capabilities, enhancing long-term operational capacity.
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Click here to discover the nuances of Allied Gold with our detailed analytical future growth report.
Aritzia
Simply Wall St Growth Rating: ★★★★★☆
Overview: Aritzia Inc., along with its subsidiaries, designs, develops, and sells apparel and accessories for women in the United States and Canada, with a market cap of CA$5.74 billion.
Operations: The company's revenue is primarily generated from its apparel segment, amounting to CA$2.37 billion.
Insider Ownership: 18.9%
Aritzia is positioned for significant earnings growth, expected to outpace the Canadian market at 60.4% annually over the next three years. Despite trading significantly below its estimated fair value, recent insider selling and a decline in profit margins from 7.5% to 3.3% may raise concerns. Revenue is forecasted to grow between 8% and 12%, with fiscal year projections reaching up to C$2.62 billion, showcasing robust revenue expansion potential despite slower growth compared to earnings forecasts.