TORONTO, July 3, 2026, 13:10 EDT
- MDA Space’s TSX shares traded higher, with the New York listing closed for Independence Day.
- The stock traded 1.9% higher at C$58.82 as of 13:10 EDT. 30-day historical volatility is at 56.91%.
- The C$1.09 rise tacked on around C$151 million in equity value, based on Google Finance’s 138.75 million shares.
- The C$688 million contract from the Canadian Space Agency is about 19% of MDA’s first-quarter backlog.
MDA Space Ltd. (TSE:MDA) climbed on the Toronto Stock Exchange Friday. The move gave the only regular trading price for the dual-listed name, with MDA Space’s New York shares NYSE:MDA paused for the U.S. market holiday.
The shares traded at C$58.82 as of 13:10 EDT, up C$1.09. Bid stood at C$58.80, ask at C$58.88. Options data from the Montreal Exchange showed 30-day historical volatility at 56.91%. At that point, 94 calls and 36 puts had traded.
| Line | Status or latest data | Price read |
|---|---|---|
| MDA Space, TSX | Trading in regular session | C$58.82, up 1.9% |
| MDA Space, NYSE | U.S. session closed | No trade during regular session |
| S&P/TSX Composite | 12:54 EDT, quote delayed | 35,268.35, up 0.86% |
The TSX traded regular hours from 9:30 a.m. to 4:00 p.m. EDT on July 3, which the exchange listed as a normal Friday session. But the NYSE marked July 3 as Independence Day observed. This is relevant for MDA, since its U.S. listing was added in March and now brings in American investors. Still, Friday’s official price came from Canada. TradingHours
MDA closed at C$58.82, still 13.4% under its 52-week high of C$67.90 and up 182% from the C$20.85 low for the year. Google Finance lists a market cap of C$8.21 billion and 138.75 million shares out.
The single-day jump only tells part of the story. The real question for MDA is if it can convert recent contract wins into actual backlog, margin, and cash flow. MDA shares gained C$1.09, putting around C$151 million onto the company’s market cap. That’s about 22% of the C$688 million Canadian Space Agency award from last week.
| Item | Amount | Investor read |
|---|---|---|
| Friday stock move | Up C$1.09 | About C$151 million in equity value gained |
| CSA satellite contract | C$688 million | Accounts for about 19% of Q1 backlog |
| Q1 backlog | C$3.7 billion | Revenue booked into 2026 and later |
| Q1 revenue | C$464 million | 32% higher than a year ago |
| Q1 adjusted EBITDA | C$91 million | 19.5% margin on adjusted EBITDA |
MDA said the CSA deal is for a synthetic aperture radar satellite along with launch services, ground control, security, and data infrastructure. The company will book the order in its Q2 backlog. CEO Mike Greenley said investments in MDA CHORUS will bring “world leading technologies” to Canada. MDA Space
MDA ended the first quarter with a C$3.7 billion backlog. The company posted Q1 revenue of C$464 million and adjusted EBITDA of C$91 million, and kept its 2026 outlook unchanged.
The Blue Canyon deal adds a fresh element. MDA said on June 19 it will buy Blue Canyon Technologies from RTX Corp. NYSE:RTX for US$620 million in cash, or about C$874 million, using senior secured debt for funding. The company said this would put about C$4.9 billion more into its opportunity pipeline and keep 2026 pro-forma leverage within its 1.5 to 2.5 times target. Greenley called the deal “expected to accelerate our growth strategy.” Newswire
Traders are still debating how much of that pipeline to price in now. Bruce Murray called the stock “risky” on Stockchase on June 30, warning “This will be volatile.” On June 22, Larry Berman put the trend in a C$60 to C$65 range and said, “This seems to have legs.” Stockchase
Canada’s main index got a boost from the wider market. Softer U.S. jobs numbers sent gold higher and trimmed odds of a quick U.S. rate hike. “Lower rate expectations weaken the U.S. dollar,” said Matt Manara, executive vice president and portfolio manager at Avenue Investment Management. Reuters
The index bid wasn’t enough to get rid of the MDA-specific risk. Shares mostly traded near session highs. Still, the options market looked quiet for a stock running at 56.91% 30-day historical volatility. Call open interest came in at 9,332 contracts. Puts, 3,405.
