When the TSX shifts gears, buyers normally begin trying previous yesterday’s winners. That may imply transferring from defensive names into industrials, supplies, expertise, or cyclical corporations with bettering demand. One of the best shares in this sort of market are inclined to have clear catalysts, respectable steadiness sheets, and earnings that may develop if confidence improves. They don’t want perfection, only a setup the place higher sentiment can unlock worth.
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VCM
Vecima Networks (TSX:VCM) is a smaller tech identify with a well timed hook. The Victoria-based firm makes {hardware} and software program utilized in broadband entry, video supply, and fleet monitoring. In brief, it helps cable and telecom corporations transfer extra knowledge, enhance networks, and help streaming and linked companies. During the last 12 months, Vecima stored constructing its next-generation broadband story, together with deeper work with main clients as cable corporations improve networks for sooner speeds.
The newest earnings confirmed indicators of restoration. Within the second quarter of fiscal 2026, income rose 3.5% 12 months over 12 months to $73.7 million. Gross margin improved to 44.9%, up from 36.4% a 12 months earlier. Adjusted earnings earlier than curiosity, taxes, depreciation, and amortization (EBITDA) got here in at $10.6 million. Administration additionally pointed to stronger broadband adoption over the subsequent 12 months. The inventory stays small, with a market cap close to the low a whole lot of tens of millions, so it comes with volatility. Nonetheless, if community spending ramps up, VCM may gain advantage earlier than extra buyers discover.
LUN
Lundin Mining (TSX:LUN) matches a unique type of TSX shift. If buyers rotate towards arduous belongings, copper publicity can look interesting quick. Lundin produces copper, gold, and nickel, with operations throughout the Americas. Copper stays the principle draw as a result of it connects to electrification, grid upgrades, knowledge centres, and industrial development. During the last 12 months, Lundin inventory simplified its portfolio, together with asset gross sales, whereas focusing extra closely on giant copper operations.
Its fourth-quarter 2025 numbers had been robust. Income reached US$1.35 billion, with US$1.30 billion from persevering with operations. Copper manufacturing got here in at 87,032 tons, whereas gold manufacturing reached 34,129 ounces. For the 12 months, income from persevering with operations reached about US$4.1 billion, whereas adjusted EBITDA got here in close to US$1.9 billion. Lundin inventory has already moved, so it’s not a sleepy cut price anymore. However valuation nonetheless appears to be like cheap if copper costs keep agency. The principle dangers are mine prices, commodity swings, and political or operational points.
MRE
Martinrea Worldwide (TSX:MRE) brings the auto and manufacturing angle. The corporate makes light-weight buildings and propulsion programs for automakers around the globe. That features elements utilized in autos as automakers hold pushing for lighter, extra environment friendly platforms. Auto suppliers can battle when manufacturing slows, however they’ll additionally rebound shortly when demand improves. During the last 12 months, Martinrea targeted on margins, money circulate, and debt discount whereas coping with softer manufacturing in elements of the auto market.
The newest quarter gave buyers a cleaner learn. Within the first quarter of 2026, gross sales fell to $1.13 billion from $1.17 billion a 12 months earlier, however web earnings rose to $27.9 million from $17.5 million. Adjusted EBITDA reached $137.7 million, with a 12.2% margin, and adjusted earnings per share climbed to $0.45. Administration reaffirmed 2026 steering for $4.5 billion to $4.9 billion in gross sales and $125 million to $175 million in free money circulate. With the inventory nonetheless buying and selling at modest earnings and gross sales multiples, MRE appears to be like like a price identify with working leverage.
Backside line
So, if the TSX shifts gears, buyers don’t must chase the loudest shares. Vecima provides broadband development, Lundin inventory provides copper leverage, and Martinrea provides a manufacturing rebound story with bettering profitability. Every comes with danger, however every additionally has a transparent motive to maneuver greater if the market begins rewarding earnings momentum once more.
