October 2024's Top TSX Growth Picks With Insider Confidence

The Canadian stock market is experiencing a robust year, with the TSX up over 17%, reflecting a broader trend of growth fueled by a supportive economic environment and favorable central bank policies. In such thriving conditions, growth companies with high insider ownership can be particularly appealing, as insider confidence often signals strong potential for sustained performance.

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%	16.6%
Alvopetro Energy (TSXV:ALV)	19.4%	76.5%
VersaBank (TSX:VBNK)	13.3%	30.4%
Aya Gold & Silver (TSX:AYA)	10.2%	71.4%
Aritzia (TSX:ATZ)	18.9%	59.7%
Ivanhoe Mines (TSX:IVN)	12.3%	69.8%
Allied Gold (TSX:AAUC)	17.7%	70.7%
Medicenna Therapeutics (TSX:MDNA)	15.3%	57.2%

Click here to see the full list of 35 stocks from our Fast Growing TSX Companies With High Insider Ownership screener.

We're going to check out a few of the best picks from our screener tool.

Allied Gold (TSX:AAUC)

Simply Wall St Growth Rating: ★★★★★☆

Overview: Allied Gold Corporation, with a market cap of CA$1.30 billion, explores for and produces mineral deposits in Africa through its subsidiaries.

Operations: The company generates revenue from its mineral production activities in Africa, with contributions of $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's growth prospects are underscored by its high insider ownership and recent substantial insider buying, indicating strong internal confidence. The company is forecast to achieve a significant revenue growth rate of 20.2% annually, outpacing the Canadian market average. Despite past shareholder dilution, Allied Gold's trading value remains attractive compared to peers. Recent developments include a CAD 192.2 million follow-on equity offering and strategic expansion at the Sadiola Gold Mine, positioning it for enhanced future profitability.

• Take a closer look at Allied Gold's potential here in our earnings growth report.
• The analysis detailed in our Allied Gold valuation report hints at an deflated share price compared to its estimated value.

Colliers International Group (TSX:CIGI)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Colliers International Group Inc. offers commercial real estate and investment management services to corporate and institutional clients across various regions, with a market cap of CA$10.33 billion.

Operations: The company's revenue segments include $2.59 billion from the Americas, $614.55 million from Asia Pacific, $496.42 million from Investment Management, and $734.93 million from Europe, Middle East & Africa (EMEA).

Insider Ownership: 14.1%

Colliers International Group shows promising growth prospects with earnings forecasted to grow at 20.8% annually, surpassing the Canadian market average. Recent financials reveal a positive shift from a net loss to a net income of US$36.72 million in Q2 2024, highlighting improved profitability. Despite significant insider selling recently, revenue is expected to increase by 10.4% per year. However, debt coverage by operating cash flow remains an area for improvement.

• Click to explore a detailed breakdown of our findings in Colliers International Group's earnings growth report.
• In light of our recent valuation report, it seems possible that Colliers International Group is trading beyond its estimated value.

Artemis Gold (TSXV:ARTG)

Simply Wall St Growth Rating: ★★★★★☆

Overview: Artemis Gold Inc. is a gold development company that focuses on identifying, acquiring, and developing gold properties, with a market cap of CA$3.26 billion.

Operations: Artemis Gold Inc. does not currently report any revenue segments in its financial disclosures.

Insider Ownership: 29.9%

Artemis Gold is poised for significant growth with its Blackwater Mine nearing completion, targeting first gold pour by late Q4 2024. Despite current low revenue, forecasts suggest a high annual growth rate of 45.9%, outpacing the Canadian market. The company faces challenges from past construction delays and increased costs due to wildfires but remains fully funded. Insider ownership supports confidence in long-term value creation despite recent shareholder dilution and ongoing net losses (CA$5.73 million in Q2 2024).

• Dive into the specifics of Artemis Gold here with our thorough growth forecast report.
• The analysis detailed in our Artemis Gold valuation report hints at an inflated share price compared to its estimated value.

Seize The Opportunity

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Seeking Other Investments?

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.The analysis only considers stock directly held by insiders. It does not include indirectly owned stock through other vehicles such as corporate and/or trust entities. All forecast revenue and earnings growth rates quoted are in terms of annualised (per annum) growth rates over 1-3 years.

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