TORONTO, July 3, 2026, 13:10 EDT
- MDA Space’s TSX shares gained, with the New York listing closed for the Independence Day holiday.
- Shares traded up 1.9% to C$58.82 as of 13:10 EDT. The 30-day historical volatility was 56.91%.
- The C$1.09 rise tacked on roughly C$151 million in equity value, based on Google Finance’s 138.75 million shares.
- MDA landed a C$688 million contract from the Canadian Space Agency, which is about 19% of its Q1 backlog.
MDA Space Ltd. (TSE:MDA) gained on Friday in Toronto, with the dual-listed stock providing its only regular-session trading data as the NYSE-listed shares NYSE:MDA were closed for the U.S. holiday.
The stock traded at C$58.82, up C$1.09 as of 13:10 EDT. Bid came in at C$58.80, ask at C$58.88. On the Montreal Exchange options page, 30-day historical volatility sat at 56.91%. There were 94 calls and 36 puts exchanged at that point.
| Line | Status or latest data | Price read |
|---|---|---|
| MDA Space, TSX | Regular session trading | C$58.82, up 1.9% |
| MDA Space, NYSE | U.S. session ended | No trading in regular session |
| S&P/TSX Composite | Delayed at 12:54 EDT | 35,268.35, up 0.86% |
The TSX was open for its usual hours from 9:30 a.m. to 4:00 p.m. EDT on July 3, which was just a normal Friday session. The NYSE, meanwhile, had July 3 marked as the observance of Independence Day. That’s relevant for MDA, since its U.S. investor base has grown after its NYSE debut in March, but the official closing price Friday still came from its Canadian session. TradingHours
MDA closed at C$58.82, holding 13.4% under its 52-week high of C$67.90. That’s still up 182% against its C$20.85 low for the same period. Market cap sat at C$8.21 billion, Google Finance said, with 138.75 million shares in play.
The one-day bump doesn’t tell the whole story. MDA needs to convert its quick streak of awards into real backlog, margin and cash flow. Shares jumped C$1.09, boosting the company’s value by roughly C$151 million based on shares outstanding. That’s about 22% of the C$688 million contract MDA got from the Canadian Space Agency last week.
| Item | Amount | Investor read |
|---|---|---|
| Friday stock move | +C$1.09 | Market cap higher by around C$151 mln |
| CSA satellite contract | C$688 mln | Makes up nearly 19% of Q1 backlog |
| Q1 backlog | C$3.7 bln | Booked revenue stretches through 2026 and beyond |
| Q1 revenue | C$464 mln | Rose 32% year on year |
| Q1 adjusted EBITDA | C$91 mln | Adjusted EBITDA margin 19.5% |
MDA said the CSA contract includes work on a synthetic aperture radar satellite, plus launch and ground control, security and data systems. The company said the deal will be added to its backlog for the second quarter. CEO Mike Greenley said Canadian investments in MDA CHORUS would bring “world leading technologies.” MDA Space
MDA said its backlog stood at C$3.7 billion at quarter-end. First quarter revenue was C$464 million. Adjusted EBITDA came in at C$91 million. The company kept its 2026 outlook unchanged.
The Blue Canyon deal is the latest move. MDA said June 19 it would buy Blue Canyon Technologies from RTX Corp. NYSE:RTX for US$620 million in cash, or about C$874 million. The company is funding it with senior secured debt. MDA said the purchase would add about C$4.9 billion to its opportunity pipeline and keep 2026 pro-forma leverage between its 1.5-times and 2.5-times target. Greenley called the deal “expected to accelerate our growth strategy.” Newswire
Investors are split on how much of the project cost belongs in today’s price. Bruce Murray, speaking on Stockchase June 30, called the shares “risky” and warned, “This will be volatile.” Larry Berman, writing June 22, put the trend in a C$60-C$65 band and said, “This seems to have legs.” Stockchase
Canada’s main index traded higher, getting a boost from softer U.S. jobs numbers as gold jumped and market bets on near-term U.S. rate hikes eased. “Lower rate expectations weaken the U.S. dollar,” said Matt Manara, executive vice president and portfolio manager at Avenue Investment Management. Reuters
Index demand didn’t clear out the MDA risk. Shares traded near session highs, but options action was light for a stock with 56.91% 30-day historical volatility. Call open interest stood at 9,332 contracts and puts at 3,405.
