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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
PAST TOP PICK

TMX Group(X.TO)

Dec 28, 2007
(A Top Pick Feb 7/07. No change.) Still likes and is glad they are merging with the Montreal exchange and you
Photo of Peter BriegerPeter Brieger
Owned
Unlock Rating
$52.51

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
PARTIAL SELL

TMX Group(X.TO)

Dec 05, 2007
The rumour is that they are going to merge with the Montreal exchange. He has a bit of a problem with the valuation of most of the exchanges right now. If you own, he would take some profit.
Photo of John ZechnerJohn Zechner
No
Unlock Rating
$53.25

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
HOLD

TMX Group(X.TO)

Dec 03, 2007
When it went public, it had some anti takeover provisions in it so the likelihood of it being acquired is very low. Merger with the Montreal exchange is a high possibility. Has done while because it is a resource and financial services based index with resources dominating. Try to buy at $46-$47.
Photo of Norman LevineNorman LevineUnlock Rating
$54.35

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)

Oct 17, 2007
Caller was a senior, he advised no, because it's too volatile.
Photo of Bill CarriganBill CarriganUnlock Rating
$47.15

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
PAST TOP PICK

TMX Group(X.TO)

Sep 10, 2007
(A Top Pick Sept 21/06. Down 10.5%.) Feels there is a probability of discussion and conclusion of a merger with the Montreal Exchange (MXX-T). Not concerned with the banks moving into this area.
Photo of Michael SmedleyMichael Smedley
Owned
Unlock Rating
$44.78

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)

Aug 22, 2007
There is competition now by banks coming together and trying to form their own exchange. A tremendous cash flow business. Trades around 17 X next year's earnings, which is somewhat expensive. 3.76% yield.
Photo of Paul Gardner, CFAPaul Gardner, CFA
No
Unlock Rating
$40.47

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
HOLD

TMX Group(X.TO)

Aug 21, 2007
There is an initiative by others to launch a trading platform in competition with them. This is a bona fide threat. The TSX will probably have to cut prices to lure and keep some business. He treats it as a dividend company.
Photo of Steve CarlinSteve CarlinUnlock Rating
$40.44

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
COMMENT

TMX Group(X.TO)

Aug 14, 2007
There is a rumour that they may merge with the Montreal exchange. This exchange is focused on derivatives. Have cut their trading fees to be competitive.
Photo of Peter BriegerPeter BriegerUnlock Rating
$41.46

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
HOLD

TMX Group(X.TO)

Jul 31, 2007
Had a huge run and then pulled back. There are some legitimate concerns about competition.
Photo of Michael DecterMichael Decter
No
Unlock Rating
$43.10

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
COMMENT

TMX Group(X.TO)

Jul 19, 2007
Competition is going to lower the cost of transactions, which impacted the stock. Doesn't think this will go anywhere for the next 2 years.
Photo of Paul Gardner, CFAPaul Gardner, CFAUnlock Rating
$43.75

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 18, 2007
Not a fan of this stock. They are in a perfect negative storm here. One thing they have going for them is that resource stocks are doing well. They have lost a number of their large cap, high-volume listings. 2 start-up groups will be competing with them.
Photo of Norman LevineNorman Levine
No
Unlock Rating
$43.23

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 05, 2007
An expensive stock. Are definitely going to have very strong competition in the next couple of years.
Photo of Chyanne FickesChyanne Fickes
No
Unlock Rating
$43.22

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)

Jun 21, 2007
His model price is $40.22, a negative 7% differential. Still too expensive.
Photo of Brian Acker, CABrian Acker, CA
No
Unlock Rating
$42.65

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)

Jun 19, 2007
Formidable competition is coming by way of a new trading platform by the bank owned brokerages. Expecting that margins and profits will be reduced.
Photo of David BaskinDavid Baskin
No
Unlock Rating
$43.25

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
COMMENT

TMX Group(X.TO)

Jun 12, 2007
Is finally having some deceleration in it's earning momentum. It's been generally well managed. Is a quasi-monopoly, with competition coming on.It will need to lower it's rates, which is good for consumers.
Photo of James Cole, BA, CFAJames Cole, BA, CFA
No
Unlock Rating
$42.77

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
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