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Best Canadian stocks to buy in March 2023

These are the 10 best TSX stocks to buy right now in Canada.

Canada is home to companies that span sectors like energy, finance, precious metals and technology. Given today’s market instability and talks of an impending downturn, Canadian evergreen stocks are increasingly attractive. Whether you’re looking for stable, long-term stocks or the next big boom, our list of the best Canadian stocks is a good place to start.

The best Canadian stocks to buy in March 2023

YTDIndustry
Alamos Gold logoAlamos Gold (AGI)+3.43%GoldBuy on Interactive Brokers
Lundin Gold logoLundin Gold (LUG)+11.26%GoldBuy on Interactive Brokers
Enerplus Corporation logoEnerplus Corporation (ERF)-7.09%Oil & Gas E&PBuy on Interactive Brokers
Fairfax Financial Holdings Limited logoFairfax Financial Holdings (FFH)+18.01%Insurance—Property & CasualtyBuy on Interactive Brokers
The Boyd Group logoBoyd Group Services (BYD)+2.21%Personal ServicesBuy on Interactive Brokers

(YTD performance is updated at the beginning of every month)

Finder’s list of the best TSX stocks is updated monthly based on the results of our proprietary ranking system. These 10 best Canadian stocks to buy right now (also known as the best TSX stocks) are starting points for your own research and should not be taken as advice to buy any particular stock.

Our top picks for where to buy Canadian stocks

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More info about the best Canadian stocks to buy in March 2023

Alamos Gold logo

1. Alamos Gold (AGI)

Formed in 2003 from the merger of Alamos Minerals and National Gold, Alamos Gold operates 2 gold mines in Canada and 1 gold mine in Mexico.

  • Market cap: C$5.588 billion
  • YTD performance: 3.43%
  • 1 Year performance: 47.19%
  • 5 Year performance: 106%
  • P/E Ratio: 118.21

Buy Alamos Gold now


Lundin Gold logo

2. Lundin Gold (LUG)

Formerly known as Fortress Minerals, Lundin Gold is a Vancouver-based mining company that holds interests in metallic mineral concessions and construction material concessions in Southeast Ecuador.

  • Market cap: C$3.479 billion
  • YTD performance: 11.26%
  • 1 Year performance: 41.81%
  • 5 Year performance: 109%
  • P/E Ratio: 35.10

Buy Lundin Gold now


Enerplus Corporation logo

3. Enerplus Corporation (ERF)

Enerplus Corporation explores and develops crude oil and natural gas in the US and Canada. The company’s oil and natural gas properties are located primarily in North Dakota, Montana, Colorado, Pennsylvania, Alberta, British Columbia and Saskatchewan.

  • Market cap: C$4.812 billion
  • YTD performance: -7.09%
  • 1 Year performance: 33.44%
  • 5 Year performance: 282%
  • P/E Ratio: 4.33

Buy Enerplus Corporation now


Fairfax Financial Holdings Limited logo

4. Fairfax Financial Holdings (FFH)

Toronto-based Fairfax Financial Holdings provides property and casualty insurance & reinsurance and investment management services in the US, Canada, Asia and other international markets.

  • Market cap: C$23.629 billion
  • YTD performance: 18.01%
  • 1 Year performance: 57.75%
  • 5 Year performance: 96%
  • P/E Ratio: 16.09

Buy Fairfax Financial Holdings now


The Boyd Group logo

5. Boyd Group Services (BYD)

Winnipeg-based Boyd Group Services owns non-franchised collision repair centers and retail auto glass operators in Canada and the US.

  • Market cap: C$4.591 billion
  • YTD performance: 2.21%
  • 1 Year performance: 31.51%
  • 5 Year performance: 112%
  • P/E Ratio: 106.36

Buy Boyd Group Services now


Element Fleet Management logo

6. Element Fleet Management (EFN)

Element Fleet Management Corp. is a fleet management company that offers vehicle acquisition, financing, program management and remarketing services primarily in Canada, the United States, Mexico, Australia and New Zealand.

  • Market cap: C$7.638 billion
  • YTD performance: 5.42%
  • 1 Year performance: 53.51%
  • 5 Year performance: 89%
  • P/E Ratio: 21.37

Buy Element Fleet Management now


NuVista Energy Ltd. logo

7. NuVista Energy (NVA)

NuVista is an oil and natural gas company that explores for, develops and produces oil and natural gas reserves in Western Canadian Sedimentary Basin. NuVista’s primary focus is on the scalable and repeatable condensate-rich Montney formation in the Wapiti area of the Alberta Deep Basin.

  • Market cap: C$2.752 billion
  • YTD performance: -1.68%
  • 1 Year performance: 23.56%
  • 5 Year performance: 305%
  • P/E Ratio: 4.95

Buy NuVista Energy now


Resolute Forest Products logo

8. Resolute Forest Products (RFP)

Resolute Forest Products operates in the forest products industry in the United States, Canada, Mexico and other international markets. The company operates through 4 segments: Market Pulp, Tissue, Wood Products and Paper.

  • Market cap: C$2.399 billion
  • YTD performance: 6.92%
  • 1 Year performance: 92.42%
  • 5 Year performance: 265%
  • P/E Ratio: 4.22

Buy Resolute Forest Products now


Tourmaline Oil Corp logo

9. Tourmaline Oil (TOU)

Tourmaline Oil Corp. acquires, explores for, develops and produces oil and natural gas properties in the Western Canadian Sedimentary Basin.

  • Market cap: C$21.069 billion
  • YTD performance: -8.77%
  • 1 Year performance: 21.81%
  • 5 Year performance: 159%
  • P/E Ratio: 3.85

Buy Tourmaline Oil now


Athabasca Oil Corporation logo

10. Athabasca Oil Corporation (ATH)

Athabasca Oil Corporation explores for, develops and produces light and thermal oil resource plays in the Western Canadian Sedimentary Basin in Alberta, Canada. The company operates through Thermal Oil and Light Oil segments.

  • Market cap: C$1.759 billion
  • YTD performance: 24.48%
  • 1 Year performance: 43.54%
  • 5 Year performance: 228%
  • P/E Ratio: 3.57

Buy Athabasca Oil Corporation now


RRSP Deadline

For the 2022 tax year, the contribution deadline is March 1, 2023. The maximum amount you can contribute is 18% of your earned income in the previous year, up to an annual limit of $29,210 for the 2022 year. Contributions are tax deductible – you claim your RRSP contribution as a deduction on your tax return. Savings grow tax-free within your RRSP, as you won’t pay tax on investment earnings as long as they stay in your RRSP.

What you should know before buying the best TSX stocks

There’s no single winning strategy to finding what experts might call the best Canadian stocks on the TSX by performance, because the most important considerations are your own goals and circumstances. It’s not personal financial advice, and your personal objectives and financial situation have not been taken into consideration. Do your own research, and speak with an investment professional if in doubt.

Whether you care more about short-term capital gains or long-term dividend growth, it’s important to know whether a stock is performing well, making a profit, paying dividends or going backwards. Always remember that past performance does not guarantee future results. Investments can increase and decrease in value.

This list and data was compiled March 1, 2023. The algorithm was last updated January 27, 2021.

Buy the best Canadian stocks through an online broker

To invest in any of these stocks, you’ll need a brokerage account. Compare online stock trading platforms below and click “Go to site” to get started.

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Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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