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TMX Group (X.TO)

TSE:X

TMX Group (X.TO)

50.25
-0.43 (0.85%)
as of Jul 16, 2026, 8:00:00 pm Market Open.
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Investor Insights
star iconJul 16, 2026, 12:00 am

This summary was created by AI, based on 22 opinions in the last 12 months.

TMX Group, the operator of the TSX and other trading platforms, has seen a pullback in its stock price due to market fears surrounding competition from prediction markets and a drop in commodity prices. Despite recent selling pressure, many analysts highlight the long-term potential of TMX due to its unique positioning in the financial industry, strong recurring revenue from data analytics, and a solid history of dividend growth. Management has been actively diversifying its revenue streams, and acquisitions such as Cboe and VettaFi are expected to drive future growth. The stock currently trades at a reasonable valuation relative to its earnings, making it an intriguing option for value-oriented investors looking for exposure to the Canadian capital markets.

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Consensus
Buy
valuation icon
Valuation
Undervalued
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Similar
CME
HOLD

TMX Group(X.TO)

Sep 30, 2008
Little bit of risk from the new trading platform, but reasonable valuation.
Photo of Gordon Higgins, CA, MBAGordon Higgins, CA, MBAUnlock Rating
$29.00

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
BUY ON WEAKNESS

TMX Group(X.TO)

Sep 29, 2008
TSX exchange itself. Merging with Montreal. Listing revenue is amortized over a period of time. They sell a lot of data. People slow down trading in this kind of Market. There will be a margin issue in a couple of years.
Photo of Paul Harris, CFAPaul Harris, CFA
Owned
Unlock Rating
$28.65

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
TOP PICK

TMX Group(X.TO)

Aug 18, 2008
Not brave enough for the banks yet but wanted to get a foot into the financials. Thinks that volumes are going to be good on the exchanges over the next while. Will benefit from this and cost savings from their merger with the Montreal exchange. 4.5% yield.
Photo of Michael DecterMichael Decter
Owned
Unlock Rating
$34.35

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
TOP PICK

TMX Group(X.TO)

Jul 17, 2008
Everybody hates it because of competition coming, being in a bear market (fewer listings), etc. Ridiculously cheap. Huge ROE and a great yield. Everybody is asking about financials. If you want to own financials buy this one that has no credit risk as opposed to bottom fishing for banks. They are buying back stocks.
Photo of Veronika HirschVeronika Hirsch
Owned
Unlock Rating
$34.42

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
DON'T BUY

TMX Group(X.TO)

Jul 11, 2008
(Market Call Minute.) Going to be difficult on revenues going forward.
Photo of David BurrowsDavid BurrowsUnlock Rating
$33.00

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
DON'T BUY

TMX Group(X.TO)

May 23, 2008
Trading on BCE and 36 other companies go down yesterday was horrible timing. Increases the appeal to trade on other platforms such as Alpha. Estimates are from 20% to 50% volumes could move to others, over time. Expensive at this point and doesn’t discount the risk of competition.
Photo of Laura WallaceLaura WallaceUnlock Rating
$43.09

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
DON'T BUY

TMX Group(X.TO)

May 22, 2008
(Market Call Minute.) Risk to revenues
Photo of David BurrowsDavid BurrowsUnlock Rating
$44.80

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
COMMENT

TMX Group(X.TO)

May 09, 2008
The TSX has had a fantastic rally. Up to all-time highs. Chart shows it is bouncing off the top again, which is a positive sign if it can break that level. However, there is a downward trend on the lows, which concerns him. Technically, you are waiting for the breakthrough.
Photo of Brooke ThackrayBrooke ThackrayUnlock Rating
$47.98

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
DON'T BUY

TMX Group(X.TO)

Apr 18, 2008
Thinks volumes will be under pressure going forward. There are investors that have been shaken out of the market to some degree.
Photo of David BurrowsDavid BurrowsUnlock Rating
$40.45

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
BUY

TMX Group(X.TO)

Apr 17, 2008
Stock price has dropped because of the malaise in the market. They get their fees from the number of companies that list, IPOs and when companies issue new equities as well as a cut on every trade that goes through. Quite attractive at this level.
Photo of Gordon Higgins, CA, MBAGordon Higgins, CA, MBAUnlock Rating
$38.38

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
HOLD

TMX Group(X.TO)

Mar 12, 2008
Will be very challenging environment for all exchanges in the next 3 to 6 months. Market volatility is great for traders, but not for exchanges. Coming merger looks very positive and is good news. On a longer-term basis, it's a good industry to be in. Would stay away for the next 6 months.
Photo of Laura WallaceLaura Wallace
No
Unlock Rating
$38.15

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
WEAK BUY

TMX Group(X.TO)

Feb 29, 2008
Couldn't understand why they were going after the Montreal exchange when the growth was not there. However, when you put the 2 components together, there are synergies. There are political issues in that Montreal wants to keep their distinct entity. Would look very hard at this at this price.
Photo of Robert FloydRobert FloydUnlock Rating
$44.28

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
COMMENT

TMX Group(X.TO)

Feb 05, 2008
Midst of a takeover with Montreal exchange (MXX-T). Because of the political situation, difficult to tell if this will actually work. CEO just left. Some market pressure because they have cut fees in order to stay competitive. Very consistent business. Volatility helps their underlying business with the extra trading revenue. Over 3% yield.
Photo of Paul Gardner, CFAPaul Gardner, CFAUnlock Rating
$45.58

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
TOP PICK

TMX Group(X.TO)

Feb 01, 2008
Merging with the Montreal exchange (MXX-T). The best way to participate in any economy is the stock exchange. If you believe that anything good will happen in the market, these shares should perform even better.
Photo of Brendan CaldwellBrendan Caldwell
Owned
Unlock Rating
$48.50

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
DON'T BUY

TMX Group(X.TO)

Jan 28, 2008
Thinks this is a space that will continue to consolidate, but it is highly market sensitive. Expect there will be fewer financings resulting in a loss of listing fees. Very well managed business, but if you are concerned about markets this is not the spot to be right now.
Photo of David BurrowsDavid BurrowsUnlock Rating
$46.75

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
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