Analysts play a key role in the stock market by providing investors with recommendations based on thorough research and analysis. Their expertise helps in assessing a company’s financial health and growth potential, aiding investors in making proper decisions. Importantly, a few analysts surpass their peers with their stock-picking abilities and deliver notable returns through their recommendations. TipRanks recognized the 10 best Canadian analysts for identifying the best investment opportunities.
But before we move ahead, it is important to highlight that we used TipRanks’ Expert Center tool to find analysts with a high success rate. The ranking reflects analysts’ ability to generate returns through their recommendations.
Let’s take a look at the Top 10 Canadian analysts, whose ratings were most successful over a one-year time frame, from July 2023 to July 2024.
#1. Michael Siperco – RBC Capital
Topping the list is Michael Siperco from RBC Capital, with an impressive overall success rate of 70.7% and an average return of 16.5%. Notably, his most remarkable rating has been on Coeur Mining (TSE:CDE), a precious metals mining company. His Buy recommendation on CDE stock, spanning from February 13, 2024, to May 13, 2024, yielded a return of 104.3%.
#2. Jeremy Hoy – Canaccord Genuity
Securing the second position is Canaccord Genuity analyst Jeremy Hoy. Over a one-year timeframe, the analyst boasts an average return of 18.7% per rating and an outstanding success rate of 82.2%. His most outstanding rating has been on New Gold (TSE:NGD), a gold mining company. His Buy recommendation on NGD stock during the period from March 1, 2024, to June 1, 2024, produced a return of 63.4%.
#3. Mike Parkin – National Bank
Mike Parkin bags the third spot on the list, with an 82% overall success rate and an average return of 14%. His best recommendation has been Kinross Gold (TSE:K), a Canadian-based gold and silver mining company. The analyst’s Buy call on K stock generated a stellar 61.8% return between February 20, 2024, and May 20, 2024.
#4. Matt Murphy – Jefferies
Matt Murphy holds the fourth position on the list. Over a one-year period ended July 2024, the analyst has a success rate of 83.8% and has witnessed an average return of 18.7%. Murphy’s top recommendation is OceanaGold (TSE:OGC), a gold mining and exploration company. The analyst generated a profit of 52.3% through his Buy recommendation on OGC stock from February 28, 2024, to May 28, 2024.
#5. Dalton Baretto – Canaccord Genuity
Dalton Baretto is placed fifth on the list. The analyst has a 74% overall success rate and a 10.2% average return per rating. Baretto’s best recommendation has been on Magna Mining (TSE:NICU), a Canadian copper and nickel mining company. The analysts’ Buy call on NICU stock generated a stellar 102.3% return between February 21, 2024, and May 21, 2024.
#6. Craig Stanley – Raymond James
Raymond James analyst Craig Stanley is sixth on this list, with a success rate of 82.1% and an average return of 14.6%. Stanley’s best call has been a Buy on the shares of a Canada-based mineral resource company, Montage Gold Corp. (TSE:MAU). The recommendation generated a return of 55.2% from March 6, 2024, to June 6, 2024.
#7. Carey MacRury – Canaccord Genuity
Carey MacRury is in seventh place. Between July 2023 and July 2024, the analyst has generated an average return of 9.8% with a 73.9% success rate. His best recommendation is Kinross Gold. The analyst delivered a whopping return of 44.1% from the Buy call on K stock from March 4, 2024, to June 4, 2024.
#8. Stephen Soock – Stifel Nicolaus
Stifel Nicolaus analyst Stephen Soock ranks eighth on the list. Soock has a 59.8% success rate and an average return of 11.1%. His best rating has been on precious metals producer Bear Creek Mining (TSE:BCM). His Buy rating on the stock between July 19, 2024, and October 19, 2024, generated an impressive return of 96%.
#9. Geoffrey Kwan – RBC Capital
Geoffrey Kwan holds the ninth spot on the list. He has a 75.4% success rate and an average return of 9.1%. Kwan’s top recommendation has been for Chesswood (TSE:CHW), a specialty finance company. The Sell recommendation generated a return of 76.9% from April 29, 2024, to July 29, 2024.
#10. Kevin O’Halloran – BMO Capital
Taking the tenth position is Kevin O’Halloran. The analyst has a 63.04% overall success rate and has witnessed an average return of 15.8%. His top recommendation was for a precious and base metal mining company, Fortuna Silver Mines (TSE:FVI). Through his Buy call on FVI stock, O’Halloran generated a solid return of 91.1% from February 16, 2024, to May 16, 2024.
Ending Thoughts
Despite macro uncertainty, these top analysts generated significant returns from their stock selections. Thus, by following Top Analysts’ ratings, investors can potentially enhance their portfolio’s profitability as they have a track record of generating significant returns from their recommendations in the past.
