Eight Toronto-listed stocks rose more than 10% in the week of October 5-9, 2026, according to a one-week performance screen. The screen carried duplicate rows for several names, so this article uses the higher figure in each pair and, where possible, checks it against actual closing prices. The reasons behind the moves differ: two companies changed how they return cash or forecast growth, one received a takeover offer, one issued a guidance raise earlier in the week, and one is a longer-term demand story that re-rated on analyst target changes. Two moved with no new company disclosure and should be read as sympathy or momentum trades.
This week’s TSX weekly movers were Algoma Central (TSX: ALC), Aritzia (TSX: ATZ), Athabasca Oil (TSX: ATH), Greenfire Resources (TSX: GFR), Shopify (TSX: SHOP), Spartan Delta (TSX: SDE), Groupe Dynamite (TSX: GRGD) and Hammond Power Solutions (TSX: HPS.A).
TSX Weekly Movers at a Glance: Top TSX Gainers, October 5-9, 2026
| Stock (TSX ticker) | Close | One-week move | Main driver |
|---|---|---|---|
| Algoma Central (ALC) | C$29.10 | +21.3% | Dividend increase and special dividend |
| Aritzia (ATZ) | C$146.91 | +19.8% | Q2 beat and raised fiscal 2027 outlook |
| Athabasca Oil (ATH) | C$12.22 | about +19% | Cenovus takeover offer |
| Greenfire Resources (GFR) | C$9.08 | +14.9% | No company release; sympathy move |
| Shopify (SHOP) | about C$243.7 | about +13% | AI-shopping analyst note, tech bid |
| Spartan Delta (SDE) | about C$13.75 | about +13% | Results and higher full-year guidance |
| Groupe Dynamite (GRGD) | about C$60.27 | about +12-13% | No new filing; momentum |
| Hammond Power Solutions (HPS.A) | C$316.32 | +11.5% | Analyst target increase, capacity story |
For Algoma and Aritzia, the screen showed larger weekly gains (28.9% and 23.4% for Algoma, 20.7% and 20.6% for Aritzia) than a simple October 2 to October 9 close comparison. The difference likely reflects the reference date each data row used. This article uses the close-to-close figures of 21.3% and 19.8%.
Why Algoma Central (TSX: ALC) Stock Jumped: Special Dividend and 48% Dividend Increase
Algoma Central, the marine carrier based in St. Catharines, Ontario, closed at C$29.10 on October 9, up from C$23.99 on October 2. The catalyst came on October 7, when the board raised the regular quarterly dividend by C$0.10 a share, about 48%, to C$0.31 from C$0.21. It also declared a special dividend of C$1.00 a share.
The special dividend is payable October 21 to holders of record on October 15. The regular dividend is payable December 1 to holders of record on November 17. Chief executive Gregg Ruhl called the increase a sign of confidence in the business and its outlook.
The stock is thinly traded, so the move showed up in volume as well as price. The October 7 session saw 57,547 shares change hands, against a few thousand a day earlier in the week. At the October 9 close, market capitalization was about C$1.18 billion on 40.57 million shares. The special dividend implies a cash distribution of roughly C$40.6 million, and the new regular rate annualizes to C$1.24 a share, against C$0.84 at the old rate.
The cash decision sat on an already stronger second quarter, reported August 7. Revenue was C$258.3 million versus C$211.7 million a year earlier, and net earnings were C$35.6 million versus C$32.9 million. The question for income investors is whether the higher regular payout can be sustained through a seasonal Great Lakes shipping business. The special dividend is a one-time event.
Why Aritzia (TSX: ATZ) Stock Surged: Record Q2 Margin and Higher Fiscal 2027 Revenue Guidance
Almost all of Aritzia’s weekly gain came on Friday. The shares closed at C$121.89 on October 8 and C$146.91 on October 9, a gain of C$25.02, or 20.5%, on 2.32 million shares. From the October 2 close of C$122.66, the week was up 19.8%.
The fiscal second quarter, ended August 30, showed net revenue up 44.1% to C$1.17 billion and comparable sales up 34.5%. U.S. revenue rose 60.3% to C$779.4 million, or 66.6% of sales, and digital revenue rose almost 68%. Adjusted EBITDA rose 99.7% to C$246.2 million, a 21.0% margin, excluding C$97.4 million of tariff refunds. Adjusted diluted earnings were C$1.31, against C$0.59 a year earlier.
The guidance is what turned a strong quarter into a 20% session. Management raised fiscal 2027 revenue guidance to a range of C$4.78 billion to C$4.88 billion, growth of 29% to 32%, from C$4.55 billion to C$4.75 billion. Third-quarter revenue was guided to C$1.275 billion to C$1.325 billion. Market capitalization at the close was about C$16.6 billion.
Two points deserve scrutiny. The third-quarter guide implies growth well below the 44% just reported, and the tariff refunds that lifted reported earnings were excluded from the adjusted margin.
Why Athabasca Oil (TSX: ATH) Stock Rose: Cenovus Takeover Offer
Athabasca Oil closed at C$12.22, up about 19% on the week even though Friday itself was down 0.7%. The catalyst was a takeover, not an earnings beat. On October 5, Cenovus Energy agreed to buy Athabasca in a cash-and-stock deal reported at about C$5.7 billion, or roughly US$4 billion.
Shareholders can elect C$12 in cash or 0.264 of a Cenovus share, subject to a C$4.3 billion cash cap and a 44.4 million share cap. Reuters put the first-day jump at 14.3% to C$12.17, a 13.4% premium to the prior close. CBC reported a close of C$12.01, up 13.5%, so reports differ slightly on the first-day figure.
The assets add about 40,000 to 45,000 barrels a day of oil-sands production near Cenovus’s Christina Lake, May River and Thornbury properties, including Leismer and Corner. Cenovus has talked about a path toward 115,000 barrels a day by 2032. The deal also brings Duvernay Energy. Closing needs shareholder, regulatory and court approvals, and reports put it in December or the first quarter of 2027.
TD later cut the stock to “tender” with a C$12 target. That fits a stock now trading on a bid rather than on a standalone multiple, and further upside depends on the deal terms, not on operations.
Why Greenfire Resources (TSX: GFR) Gained 14.9%: A Sympathy Move After the Cenovus-Athabasca Deal
Greenfire closed at C$9.08, up 14.9% on the week and 1.8% on the day. No company release explaining this week’s move turned up. Greenfire is an Athabasca oil-sands producer with Hangingstone as its core asset. In September it agreed to buy Connacher Oil and Gas for about C$1.277 billion, and on September 15 it closed a C$775 million rights offering, issuing 114,985,163 shares and taking shares outstanding to 240,413,692. That is background, not a this-week event.
The gain lines up with the October 5 Cenovus-Athabasca deal, which put a takeover price on a neighbouring oil-sands producer and pulled attention toward the group. Volume was elevated: a U.S. listing note on October 8 cited about 600,000 shares at midday, 55% above the prior session. A one-week gain of this size without a new filing should be treated as a sympathy and commodity move until the company says otherwise.
Why Shopify (TSX: SHOP) Rose 13%: AI Shopping Narrative and Piper Sandler Note
Shopify showed C$243.72 and C$243.83 in the screen, up roughly 13% on the week, with Friday up about 4.2%. The identifiable company-linked catalyst was analyst commentary on AI shopping, not an earnings report. On October 5, Piper Sandler’s James Callahan reiterated an overweight rating and a US$180 target. The note argued that agentic transactions are growing twice as fast as those tied to large language models and that average order values are about twice as large. Motley Fool reported the U.S. shares up as much as 7.5% that day.
The comment sat on an existing partnership: in September, Shopify and Meta said Shop Pay would be embedded in Meta’s Muse agent. Because Shopify also trades on Nasdaq, the Toronto line moves with U.S. tech. A separate October 5 note tied an earlier Friday gain to a soft U.S. jobs report and the AI trade, and said no company announcement explained that session. The 13% is a mix of the Piper note, the agentic-commerce narrative and a broader tech bid, not a single TSX filing.
Why Spartan Delta (TSX: SDE) Rose 13%: Quarterly Results and Higher Full-Year Guidance
Spartan Delta closed at C$13.74 to C$13.76 depending on the row, up about 13% on the week. The gain started on October 5, when the stock rose 6.31% to C$13.15 after quarterly results, an operations update and higher full-year guidance. Simply Wall St described the update as stronger execution and more production visibility, with management stressing asset quality and free cash flow.
The stock added 1.67% on October 6, was flat on October 7, and rose 3.90% on October 8 to C$13.87. MarketBeat put the October 8 market capitalization at C$2.85 billion. Eleven brokers had an average “buy” rating and a C$14.10 target, with RBC and TD at C$17. The multiple is not cheap: at C$13.35 the stock traded on about 39 times earnings. The week’s move reflects the market paying up for the guidance raise, not a change in the commodity price alone.
Why Groupe Dynamite (TSX: GRGD) Jumped: Friday Momentum With No New Earnings
Groupe Dynamite closed at about C$60.27, up 12% to 13% on the week, with Friday alone up 10.3% to 11.3% depending on the row. The last formal results were released September 10, not this week. Fiscal second-quarter revenue rose 29.8%, comparable store sales rose 10.3%, gross margin was 68.8% and adjusted EBITDA margin was 44.3%. Adjusted diluted earnings of C$0.96 beat a C$0.80 consensus, on revenue of C$423.6 million against a C$401.4 million estimate.
Guidance for fiscal 2026 was raised to comparable-sales growth of 12% to 14%, total revenue growth of 25% to 27% and an adjusted EBITDA margin of 39.5% to 40.5%. A Stockopedia item dated October 9 restated that beat. No separate October filing was found that accounts for Friday’s jump, so this week’s gain should not be described as a new earnings reaction. It is a retail stock that had already raised guidance, then moved sharply on Friday with the broader tape.
Why Hammond Power Solutions (TSX: HPS.A) Gained 11.5%: Transformer Demand and Higher Price Target
Hammond Power Solutions closed at C$316.32, up 11.5% on the week and 12.6% on the day. The operating backdrop is transformer demand tied to data centres, electrification and grid work. On September 22 the company said it had signed a long-term lease for a Fort Worth, Texas, plant. Initial production is planned in stages from the fourth quarter of 2027, with about C$250 million of manufacturing capacity in the first phase and a possible C$400 million if the site is fully built out. The initial investment was put at about C$50 million.
That announcement is three weeks old, so it is context rather than Friday’s trigger. The move coincided with target changes: ATB Cormark lifted its target to C$400 from C$350 and kept an outperform rating. Shares were reported up 9% to about C$313 in one note and near C$315 in another. The next scheduled results are October 29. At these prices the trailing multiple is high, about 56 to 61 times, so this is a capacity-and-demand re-rating, not a cheap earnings stock catching up.
What the Best-Performing TSX Stocks This Week Have in Common
The eight names sort into four groups.
Company-driven re-ratings. Algoma Central and Aritzia moved because management changed the cash returned or the outlook. Both are clean, company-specific catalysts with dates attached, a dividend announcement on October 7 for Algoma and a quarterly report on October 8 for Aritzia.
Event-driven repricing. Athabasca Oil reflects a takeover bid. Its price is now anchored to the Cenovus offer terms, and the main variable is deal completion, not oil-sands operations.
Guidance and analyst-driven moves. Spartan Delta rose on higher guidance, Hammond Power on a target increase and a demand narrative, and Shopify on a narrative reinforced by a Piper Sandler note. In each case the valuation is elevated, with Spartan at about 39 times earnings and Hammond at 56 to 61 times.
Moves without a clear trigger. Greenfire Resources and Groupe Dynamite gained 10% or more without a new company filing found for the week. For these two, the defensible explanation is sector sympathy and momentum.
Risks and Open Questions for TSX Investors Watching These Stocks
- Algoma Central: the C$1.00 special dividend is a one-off, and the new C$0.31 quarterly rate must be earned through a seasonal business.
- Aritzia: third-quarter guidance implies slower growth than the 44% just reported, and tariff refund accounting affects comparisons between reported and adjusted results.
- Athabasca Oil: closing still needs shareholder, regulatory and court approvals, and the timeline ranges from December to the first quarter of 2027.
- Greenfire Resources: the gain is unexplained by company news and could reverse if group sentiment cools. Its balance sheet also reflects a large rights offering and a pending acquisition.
- Shopify: a narrative-driven rally tied to U.S. tech can reverse with the Nasdaq.
- Spartan Delta and Hammond Power: both trade on high multiples, so a miss against raised expectations would be punished. Hammond reports October 29.
- Groupe Dynamite: a 10% one-day move without news makes the stock vulnerable to a pullback.
Bottom Line: TSX Weekly Movers for the Week of October 5-9, 2026
Eight TSX stocks gained more than 10% this week, but only two, Algoma Central (TSX: ALC) and Aritzia (TSX: ATZ), moved on their own disclosures with clear, dated catalysts. Algoma changed its dividend. Aritzia changed its forecast. Athabasca Oil (TSX: ATH) got a bid. The remaining five reflect guidance, analyst commentary or momentum, and investors screening for the top TSX gainers should separate those groups before drawing conclusions.
This article is for informational purposes only and is not investment advice. I’m not a financial advisor.
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