The Power of Investor Relations: What the TSX30 Companies Are Doing Right

The TSX30™ is an annual ranking of the 30 top-performing companies on Toronto Stock Exchange (TSX). Companies are ranked based on their dividend-adjusted share price performance over a three-year period. This ranking serves as a prestigious recognition showcasing investor confidence and depicting a positive outlook on the company's future.

We asked a few of the 2025 top-performing companies to share with us how their investor relations (IR) program contributed to their success. A strong IR program is built on a foundation of consistent, transparent communication and a proactive approach to engagement. The companies' responses highlight three key themes that contributed to their success: strategic storytelling, proactive engagement, and valuable market intelligence.

1. Strategic Storytelling and Narrative Building

Successful companies understand that IR is about more than just reporting numbers — it's about crafting and communicating a compelling narrative that connects the company's vision to its financial performance. This theme is evident in how companies simplify complex information and align their messaging with their long-term strategies.

• Hammond Power Solutions Inc. (HPS.A) focuses on its story of global electrification trends, long-term growth, and an expanding product portfolio. By grounding its narrative in these durable market drivers, the company builds credibility and investor confidence.
• Avino Silver & Gold Mines Ltd. (ASM) uses IR to convey the progress and potential of its key assets (the Avino Mine and La Preciosa), positioning itself as an attractive investment opportunity in the precious metals sector. The messaging is aligned with the company's long-term vision of evolving into a mid-tier producer.
• Galaxy Digital Inc. (GLXY) articulates a narrative that places the company at the forefront of digital assets and AI. The company effectively communicates how these global megatrends converge under its platform, giving investors exposure to the growing AI ecosystem through its strategic partnerships and high-performance computing infrastructure.
• Cameco Corporation (CCO) exemplifies this by simplifying complex information. Their IR team translates the complexities of the opaque nuclear industry into a strong financial case for investors.
• Orla Mining Ltd. (OLA) emphasizes communicating their focused strategies and consistent operational performance to build trust and confidence in their long-term growth trajectories.

2. Proactive and Targeted Engagement

Successful IR programs are not passive — they are built on a foundation of regular, meaningful interactions with the investment community. This includes both broad outreach and targeted engagement to develop relationships and broaden the shareholder base.

• MDA Space Ltd. (MDA) demonstrates this with a highly active IR program, including approximately 190 engagements with institutional investors in a single year. By participating in conferences, site visits, and industry events, MDA Space successfully reaches a wider investor audience and grows its shareholder base.
• Skeena Resources Limited (SKE) uses digital campaigns and a strong social media presence to expand their reach and enhance market visibility, showing the importance of leveraging technology for engagement.
• Galiano Gold Inc. (GAU) maintains a consistent dialogue with institutional investors and analysts, a strategic move given that this group holds approximately 80% of its shares. The company uses virtual shareholder meetings to maintain transparent communication and reduce information gaps.
• Eldorado Gold Corporation (ELD) provides regular updates through conferences, non-deal road shows, conference calls, and site visits, while offering direct access to its operations and leadership.

3. Leveraging IR for Market Intelligence

The most effective IR programs are a two-way street. They not only communicate the company's message but also act as a crucial source of market intelligence, providing feedback that helps shape corporate strategy.

• Bombardier Inc. (BBD.B) explicitly states that insights from ongoing engagement with investors help refine its strategic direction and ensure alignment with market expectations.
• AtkinsRéalis Group Inc. (ATRL) highlights the critical role its IR team plays in providing market intelligence to the Board and executive team, creating a strong feedback loop between external stakeholders and internal decision-makers.
• Dundee Precious Metals Inc. (DPM) conducts in-depth research and analysis of market trends and investor preferences, allowing them to proactively target and attract new pools of capital. The company's efforts to better tell their story demonstrates a commitment to analyzing what messaging resonates most effectively with the investment community.

By emphasizing two-way, transparent, and timely communication, the 2025 TSX30 companies have successfully engaged with stakeholders and encouraged valuable feedback. Their IR programs conveyed a clear value proposition, which helped establish a distinct identity and enhance their market reputation. Through proactive communication and strategic engagement, these companies built credibility and trust in the capital markets, underscoring the importance of their long-term vision and commitment to shareholder value. The consistent application of these strategies in their IR programs has helped these companies distinguish themselves in the investor community, attracting the support and resources they need for continued success.

TSX Company Services is a crucial partner for listed companies looking to enhance their investor relations strategies. Our Investor Access program offers enhanced visibility and opportunities for issuers to connect with a targeted audience of investors. We provide the tools and data needed for effective investor targeting, market intelligence, and investor profiling, all of which contribute to success in the public markets. To learn more, visit www.tsx.com/companyservices.

By: Roy Wefuan, Head, Client Success, TSX & TSXV Company Services