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TMX Group (X.TO)

TSE:X

TMX Group (X.TO)

49.56
+0.49 (1.00%)
as of Jun 5, 2026, 8:00:00 pm Market Open.
81 watching
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Investor Insights
star iconJun 5, 2026, 12:00 am

This summary was created by AI, based on 15 opinions in the last 12 months.

TMX Group, operating the Montreal Exchange and other trading platforms, is viewed favorably by analysts due to its unique positioning within the financial industry. Acquisitions, including CBOE Canada, have reinforced its market presence, particularly in the mining sector, where it holds significant trade volumes. Despite concerns over potential AI disruptions, experts believe TMX's core operations and data analytics segments will continue to generate steady revenue and dividends. Analysts project upside potential in share price, underpinned by consistent historical growth in dividends and a robust balance sheet, making it an appealing prospect for long-term holders as it navigates current market challenges.

consensus icon
Consensus
Buy
valuation icon
Valuation
Fair Value
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Similar
CME
PAST TOP PICK

TMX Group(X.TO)

Sep 27, 2005
(A Top Pick July 20/05. No change.) Got knocked back on rumours of becoming a trust. A good price and would buy more.
Photo of Michael SmedleyMichael Smedley
Owned
Unlock Rating
$39.76

Stock price when the opinion was issued

$49.56

As of Jun 05, 2026. Market Open.

other services
DON'T BUY

TMX Group(X.TO)

Sep 26, 2005
Good base business, but unlikely to grow at the same pace that it has. At current multiples, the stock is expensive.
Photo of Laura WallaceLaura Wallace
No
Unlock Rating
$39.15

Stock price when the opinion was issued

$49.56

As of Jun 05, 2026. Market Open.

other services
HOLD

TMX Group(X.TO)

Sep 23, 2005
It should become an income trust, but will have to wait for the feds. A tremendous cash generator.
Photo of Bill MacLachlanBill MacLachlan
Owned
Unlock Rating
$39.15

Stock price when the opinion was issued

$49.56

As of Jun 05, 2026. Market Open.

other services
BUY ON WEAKNESS

TMX Group(X.TO)

Sep 08, 2005
It might become an income trust. A cash cow. Somewhat of a monopoly and doesn't have much capital expenditures. Moved up to quickly today.
Photo of Matt BaillieMatt Baillie
Owned
Unlock Rating
$41.70

Stock price when the opinion was issued

$49.56

As of Jun 05, 2026. Market Open.

other services
TOP PICK

TMX Group(X.TO)

Sep 06, 2005
A leveraged energy play in a way because of the number of new issues of income trusts and new exploration/production companies. 3.6% dividend.
Photo of Gavin GrahamGavin Graham
Owned
Unlock Rating
$38.00

Stock price when the opinion was issued

$49.56

As of Jun 05, 2026. Market Open.

other services
TRADE

TMX Group(X.TO)

Aug 11, 2005
Almost a quasi monopoly. If you want to trade stocks in Canada, that's where you have to be. Every new company has to pay a listing fee. There are ongoing fees to stay listed. Great cash flows. At these levels, not sure how much more there is on the upside. If equity markets pull back, this stock will definitely pull back.
Photo of Gordon Higgins, CA, MBAGordon Higgins, CA, MBAUnlock Rating
$36.92

Stock price when the opinion was issued

$49.56

As of Jun 05, 2026. Market Open.

other services
DON'T BUY

TMX Group(X.TO)

Jul 21, 2005
Much more expensive than the other financials so not contemplating buying it.
Photo of Peter BriegerPeter Brieger
No
Unlock Rating
$39.45

Stock price when the opinion was issued

$49.56

As of Jun 05, 2026. Market Open.

other services
TOP PICK

TMX Group(X.TO)

Jul 20, 2005
Great dividend flow and a history of extra dividends.
Photo of Michael SmedleyMichael Smedley
Owned
Unlock Rating
$39.85

Stock price when the opinion was issued

$49.56

As of Jun 05, 2026. Market Open.

other services
HOLD

TMX Group(X.TO)

Jul 20, 2005
The closest thing you are going to come to a toll booth. Anyone wanting to come through public listings on the Canadian market has to go through here. A bit volatile. As the markets go, the earnings go. Return on capital is extremely high as it requires virtually no capital in. The primary driver lately has been all the trusts. Trades at a hefty valuation.
Photo of Danny TomkaDanny Tomka
Owned
Unlock Rating
$39.85

Stock price when the opinion was issued

$49.56

As of Jun 05, 2026. Market Open.

other services
DON'T BUY

TMX Group(X.TO)

Jul 18, 2005
Have done well. They are a monopoly with only the Montreal exchange left to conquer. Has a problem with their growth multiple of about 20 X next year's earnings. There really isn't any more room for it to grow.
Photo of John Sinkins, CFAJohn Sinkins, CFA
No
Unlock Rating
$38.30

Stock price when the opinion was issued

$49.56

As of Jun 05, 2026. Market Open.

other services
BUY

TMX Group(X.TO)

Jun 08, 2005
Volumes are up quite strongly.
Photo of Gavin GrahamGavin Graham
Owned
Unlock Rating
$33.93

Stock price when the opinion was issued

$49.56

As of Jun 05, 2026. Market Open.

other services
BUY

TMX Group(X.TO)

May 30, 2005
For a large portfolio where you want to have diversification across several different financial service types of business, this is a good one. Should continue to do well as long as economic conditions remain strong.
Photo of Neil WickhamNeil Wickham
Owned
Unlock Rating
$33.47

Stock price when the opinion was issued

$49.56

As of Jun 05, 2026. Market Open.

other services
HOLD

TMX Group(X.TO)

May 25, 2005
It's a wonderful business. Tremendous cash flows. Special dividends are always lined up.
Photo of Michael SmedleyMichael Smedley
Owned
Unlock Rating
$33.00

Stock price when the opinion was issued

$49.56

As of Jun 05, 2026. Market Open.

other services
BUY

TMX Group(X.TO)

May 25, 2005
A great investment because the Canadian market is resource base and income trust based and both are popular with domestic and foreign investors. Also this could be bought by some other exchange.
Photo of Norman LevineNorman Levine
No
Unlock Rating
$33.00

Stock price when the opinion was issued

$49.56

As of Jun 05, 2026. Market Open.

other services
HOLD

TMX Group(X.TO)

May 16, 2005
Has gotten to a valuation that it probably needs a positive market going forward to keep that momentum going. Wait for some market weakness before buying for a long term.
Photo of Bruce Campbell (1)Bruce Campbell (1)
No
Unlock Rating
$31.31

Stock price when the opinion was issued

$49.56

As of Jun 05, 2026. Market Open.

other services
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