Toronto, May 25, 2026, 11:12 EDT
MDA Space Ltd. shares in Toronto moved up 0.2% to C$59.64 at 10:54 a.m. EDT on Monday, close to their all-time high after hitting C$60.96 earlier in the session. The Canadian space contractor is coming off a strong run last week. Volume reached 241,428 shares. Previous close was C$59.51.
MDA’s move is in focus now as it stands out as one of the clearer public plays on satellite manufacturing and space infrastructure while investors shift how they value the sector. Shares climbed about 14% last week, with the price moving from C$52.16 at the May 15 close to C$59.51 at the May 22 close.
Canada’s S&P/TSX composite hit a new high Monday, adding 0.7% to reach 34,778.98 at 10:21 a.m. ET, according to Reuters. Investors were buying on signs of U.S.-Iran peace and falling oil prices.
MDA’s U.S. shares won’t be trading Monday with the New York Stock Exchange shut for Memorial Day. NYSE has the holiday marked for Monday, May 25, 2026. The last trade for the U.S.-listed shares was Friday, closing at $43.11.
MDA has a spot at the Jefferies Virtual Space Summit on Tuesday, set for 9:20 to 9:50 a.m. EDT, per its investor calendar. Investors face another test in the week ahead.
MDA gave investors new numbers to parse. In first-quarter results out May 7, the company posted a 32.2% year-over-year revenue jump to C$464.1 million and said adjusted EBITDA rose 32.1% to C$90.6 million. It kept its 2026 outlook unchanged.
MDA Space CEO Mike Greenley said in the release, “defence spending and demand for new space capability” are shaping the market. He also called out a C$40 billion pipeline of commercial and government opportunities. For bulls, it boils down to this: demand is rising, programs are in sight, and the company is already making money. MDA Space
MDA wants to prove it can manufacture at scale. It opened a new 185,000-square-foot satellite facility in Montreal on May 8, saying this expansion doubles its floor space for manufacturing and is built for large constellation projects. CEO Greenley called the Montreal facility a “key part” of the plan to make MDA a top satellite-constellation prime. MDA Space
Competition in the sector is picking up. SpaceX’s IPO filing boosted European space names last week, Reuters said, with Eutelsat up 20% and OHB up 15%. “Big IPOs are good for the market,” OHB CEO Marco Fuchs told Reuters. ODDO BHF’s Stéphane Beyazian said some see a “possible re-rating” for European satellite stocks, while ING analyst Jan Frederik Slijkerman said the story for the sector has changed. Reuters
Rocket Lab got a boost Friday, climbing 8.2% after news of a U.S. Space Force satellite deal, Barron’s said. The stock had dropped the day before amid SpaceX IPO nerves. The move highlights the tension for investors in U.S.-listed space stocks, who want exposure but are still sorting which companies have profits and which are still more speculative.
MDA faces execution risk. Backlog was C$3.7 billion at quarter-end, down from C$4.8 billion the year before as orders turned into revenue. Free cash flow came in at negative C$27.6 million for the quarter. The company is guiding for 2026 capital spending of C$225 million to C$275 million, and expects free cash flow to be neutral to negative. That forecast leaves little cushion for delays with satellite awards, customer budgets or factory ramp-up.
