Top Growth Stocks With High Insider Ownership On TSX For September 2024
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The Canadian market experienced significant swings in August, starting with a fierce correction and ending on a high note, supported by an expanding economy and positive earnings growth. As the focus shifts to growth amid easing monetary policies, insider ownership becomes a crucial factor for investors seeking stable opportunities; companies where insiders hold substantial stakes often signal confidence in long-term prospects.
Top 10 Growth Companies With High Insider Ownership In Canada
| Name | Insider Ownership | Earnings Growth |
| Vox Royalty (TSX:VOXR) | 12.6% | 70.7% |
| Allied Gold (TSX:AAUC) | 22.5% | 73.6% |
| Almonty Industries (TSX:AII) | 17.7% | 117.6% |
| goeasy (TSX:GSY) | 21.3% | 17.1% |
| Alvopetro Energy (TSXV:ALV) | 19.4% | 72.4% |
| Propel Holdings (TSX:PRL) | 40% | 37.2% |
| Aya Gold & Silver (TSX:AYA) | 10.2% | 60.9% |
| Medicenna Therapeutics (TSX:MDNA) | 15.4% | 57.2% |
| Alpha Cognition (CNSX:ACOG) | 17.9% | 69.5% |
| ROK Resources (TSXV:ROK) | 16.6% | 161.8% |
Below we spotlight a couple of our favorites from our exclusive screener.
Payfare
Simply Wall St Growth Rating: ★★★★★☆
Overview: Payfare Inc. (TSX:PAY) is a financial technology company offering instant payout and digital banking solutions to gig economy workers in Canada, the United States, and Mexico with a market cap of CA$417.92 million.
Operations: The company generates CA$205.11 million in revenue from its Internet Software & Services segment.
Insider Ownership: 14.7%
Revenue Growth Forecast: 23.1% p.a.
Payfare is a growth company with high insider ownership in Canada, showing strong earnings and revenue growth projections. Analysts forecast annual profit growth at 24.7% and revenue at 23.1%, both outpacing the Canadian market. Recent collaborations with Lyft have introduced new features for the Lyft Direct debit card, enhancing financial management for drivers. Payfare's Q2 earnings reported CAD 55.99 million in sales and CAD 4.9 million net income, reflecting significant year-over-year improvements.
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Click to explore a detailed breakdown of our findings in Payfare's earnings growth report.
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Our valuation report here indicates Payfare may be overvalued.
Propel Holdings
Simply Wall St Growth Rating: ★★★★★☆
Overview: Propel Holdings Inc. is a financial technology company with a market cap of CA$1.04 billion.
Operations: Propel Holdings generates revenue of $382.44 million by providing lending-related services to borrowers, banks, and other institutions.
Insider Ownership: 40%
Revenue Growth Forecast: 23.5% p.a.
Propel Holdings exhibits strong growth potential with high insider ownership. The company reported significant year-over-year increases in Q2 earnings, with sales reaching US$106.75 million and net income at US$11.12 million. Analysts forecast annual revenue growth of 23.5% and earnings growth of 37.2%, both outpacing the Canadian market averages. Propel's recent $80 million credit facility upsize supports its expansion strategy, though insider selling has been substantial over the past three months.