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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.

consensus icon
Consensus
Buy
valuation icon
Valuation
Undervalued
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Similar
CME
DON'T BUY

TMX Group(X.TO)

Jun 08, 2007
Banks have deep pockets and want to get a share of the trading that TSX has. TSX may have to cut there fees by 20%, which doesn't translate into higher profits. Is interest rate sensitive as far as if the market softens that effects their volumes.
Photo of Laura WallaceLaura Wallace
No
Unlock Rating
$43.29

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
SELL

TMX Group(X.TO)

Jun 04, 2007
They have bought in the past, and recently sold. The alternate trading system being put together by the banks took the shine out of it's perceived value. Would get back in once the impact of the alternate trading system is seen.
Photo of Peter BriegerPeter Brieger
No
Unlock Rating
$44.12

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
RISKY

TMX Group(X.TO)

Jun 01, 2007
Fair market value currently is $87-$88 so there is a lot of upside. It's currently at 10 times book value, so it's not cheap. This is a speculation. He likes to buy at book or twice book.
Photo of Ross HealyRoss HealyUnlock Rating
$44.00

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 29, 2007
Banks may be going to get involved in alternative markets, which is a competitive threat to them. All the regulatory commissions are driving newer companies to international markets.
Photo of John O'Connell, CFAJohn O'Connell, CFA
No
Unlock Rating
$43.41

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, 2007
Facing some challenges with Canada's 6 largest banks intending to directly compete with them. There’re also some other alternative trading platforms out there that will start eating in to their market share. Not cheap.
Photo of Laura WallaceLaura WallaceUnlock Rating
$43.58

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 18, 2007
They have 2 problems. All their big companies are being taken over and they make their money off of trading. Secondly, the big banks are talking about setting up a rival exchange.
Photo of Norman LevineNorman Levine
No
Unlock Rating
$44.29

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 17, 2007
Has dropped a fair bit since its high. Got hurt recently when there was talk about the banks pushing for their own equity market. Technology will allow them to do that. It won't trump the TSX, but will take business away and will hurt their margins. Great cash flow business.
Photo of Paul Gardner, CFAPaul Gardner, CFA
No
Unlock Rating
$43.90

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 15, 2007
Long-term trend line has been broken. When a group is getting tired, there is a tendency for a lot of new investment products to come out. If you own, lighten up.
Photo of Bill CarriganBill Carrigan
No
Unlock Rating
$42.70

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
BUY

TMX Group(X.TO)

May 09, 2007
A consortium of Canadian banks has announced that they are considering putting in a competing product in the next year or two. This would cut into their pricing. This will probably blow over and at this price, it’s not a bad entry point.
Photo of Bruce Campbell (1)Bruce Campbell (1)Unlock Rating
$41.70

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
COMMENT

TMX Group(X.TO)

May 08, 2007
$50 is at risk of moving below 200 day moving average and the momentum on the MACD is out of the stock. Be cautious.
Photo of Hap (Robert) Sneddon FCSIHap (Robert) Sneddon FCSI
No
Unlock Rating
$42.56

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
SELL

TMX Group(X.TO)

May 08, 2007
Announcement that the banks were considering setting up an alternative system gave them a scare. It would take away a lot of volume. Have held a monopoly position. Consider taking some profits on part of your holdings.
Photo of David BaskinDavid Baskin
No
Unlock Rating
$42.56

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
SELL

TMX Group(X.TO)

May 03, 2007
Stock missed earnings, when a stock misses earnings, it will tend to do it multiple times.
Photo of Derek Webb, CFADerek Webb, CFA
No
Unlock Rating
$41.77

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 03, 2007
Last year they lowered their fees because they knew they would be getting competition from the banks. Pretty much fully valued now, so can't see where the growth will happen.
Photo of Paul Gardner, CFAPaul Gardner, CFAUnlock Rating
$41.77

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)

Mar 06, 2007
Thinks there's a catalyst coming on this exchange. Feels they will get together with the Montreal exchange over the next couple of years. Buying on a bad day would probably be a good idea.
Photo of Bruce Campbell (1)Bruce Campbell (1)Unlock Rating
$48.70

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

other services
BUY

TMX Group(X.TO)

Mar 02, 2007
Likes the concept of an integration of world exchanges. As the world expands economically, this one cannot go it alone and will have to team up with one or more players. 3% yield.
Photo of Peter BriegerPeter Brieger
Owned
Unlock Rating
$47.66

Stock price when the opinion was issued

$50.25

As of Jul 16, 2026. Market Open.

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