Best Canadian stocks to buy in March 2023

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

		YTD	Industry
	Alamos Gold (AGI)	+3.43%	Gold	Buy on Interactive Brokers
	Lundin Gold (LUG)	+11.26%	Gold	Buy on Interactive Brokers
	Enerplus Corporation (ERF)	-7.09%	Oil & Gas E&P	Buy on Interactive Brokers
	Fairfax Financial Holdings (FFH)	+18.01%	Insurance—Property & Casualty	Buy on Interactive Brokers
	Boyd Group Services (BYD)	+2.21%	Personal Services	Buy 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

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

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

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

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

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

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

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

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

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

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

• 10 more TSX stocks to look at

  

  11. Black Diamond Group Limited (BDI)

  Black Diamond Group Limited rents and sells modular space and workforce housing solutions. It also provides turnkey lodging and travel management services in Canada, the United States and Australia.

  • Market cap: C$403.629 million
  • YTD performance: 40.99%
  • 1 Year performance: 57.64%
  • 5 Year performance: 161%
  • P/E Ratio: 14.80

  Buy Black Diamond Group now

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  12. Canadian General Investments (CGI)

  Canadian General Investments is a closed-end equity mutual fund launched and managed by Morgan Meighen & Associates Limited. It invests in the public equity markets of Canada.

  • Market cap: C$682.576 million
  • YTD performance: -3.7%
  • 1 Year performance: 22.51%
  • 5 Year performance: 103.3%
  • P/E Ratio: 2.65

  Buy Canadian General Investments now

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  13. Franco-Nevada Corporation (FNV)

  Franco-Nevada Corporation is a mining and energy company that operates in the US, Latin America, Canada, Australia, Europe, Africa and other markets. The company mines gold, silver and platinum group metals. It also develops oil, gas and natural gas liquid products.

  • Market cap: C$34.872 billion
  • YTD performance: -1.42%
  • 1 Year performance: -4.73%
  • 5 Year performance: 61%
  • P/E Ratio: 33.38

  Buy Franco-Nevada Corporation now

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  14. Labrador Iron Ore Royalty (LIF)

  Labrador Iron Ore Royalty Corporation, through its subsidiary, Hollinger-Hanna Limited, holds an equity interest in Iron Ore Company of Canada (IOC), which produces and processes iron ores in Newfoundland and Labrador.

  • Market cap: C$2.376 billion
  • YTD performance: 10.54%
  • 1 Year performance: -22.55%
  • 5 Year performance: 130%
  • P/E Ratio: 7.95

  Buy Labrador Iron Ore Royalty now

  ---

  

  15. Profound Medical (PRN)

  Profound Medical is a commercial-stage medical device company that develops magnetic resonance guided ablation procedures for treatment of prostate disease, uterine fibroids and palliative pain treatment in Canada, Germany, the US and Finland.

  • Market cap: C$347.585 million
  • YTD performance: 14.99%
  • 1 Year performance: 31.72%
  • 5 Year performance: 127%
  • P/E Ratio: N/A

  Buy Profound Medical now

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  16. BRP Inc. (DOO)

  BRP Inc. designs, develops, manufactures, distributes and markets powersports vehicles and marine products worldwide. It operates in 2 segments: Powersports and Marine.

  • Market cap: C$9.285 billion
  • YTD performance: 14.22%
  • 1 Year performance: 27.50%
  • 5 Year performance: 257%
  • P/E Ratio: 13.63

  Buy BRP Inc. now

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  17. Economic Investment Trust Limited (EVT)

  Created in 1927, Economic Investment Trust Limited was the first closed-end investment trust formed in Canada. The investment portfolio is geared towards long-term growth and is comprised a mix of Canadian and foreign investments.

  • Market cap: C$769.329 million
  • YTD performance: 21.49%
  • 1 Year performance: 16.08%
  • 5 Year performance: 58.54%
  • P/E Ratio: 2.66

  Buy Economic Investment Trust now

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  18. GoGold Resources (GGD)

  GoGold Resources explores, develops and produces gold and silver primarily in Mexico.

  • Market cap: C$692.895 million
  • YTD performance: -1.84%
  • 1 Year performance: -31.73%
  • 5 Year performance: 129%
  • P/E Ratio: N/A

  Buy GoGold Resources now

  ---

  

  19. Uni-Select (UNS)

  Canada-based Uni-Select distributes automotive refinish and industrial coatings and related products in North America. It also distributes automotive aftermarket and original equipment manufacturer parts in Canada and the UK.

  • Market cap: C$2.052 billion
  • YTD performance: 9.17%
  • 1 Year performance: 68.60%
  • 5 Year performance: 171%
  • P/E Ratio: 22.38

  Buy Uni-Select now

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  20. Birchcliff Energy (BIR)

  Birchcliff Energy is an intermediate oil and natural gas company that acquires, explores for, develops and produces natural gas, light oil, condensate and natural gas liquids in Western Canada.

  • Market cap: C$2.275 billion
  • YTD performance: -9.33%
  • 1 Year performance: 22.84%
  • 5 Year performance: 227%
  • P/E Ratio: 3.41

  Buy Birchcliff Energy now

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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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CIBC Investor's Edge CIBC Investor's Edge		Stocks, Bonds, Options, Mutual Funds, ETFs	$4.95–$6.95	$0 if conditions met, or $100	An easy-to-use platform with access to a variety of tools to help you trade with confidence.	Get 100 free online stock or ETo 24F trades and up to $3,000 cash back. Conditions apply.	Get 100 free online stock or ETF trades and up to $3,000 cash back. Conditions apply.	Go to site View details	Compare	loading Fetching your data...
Interactive Brokers Interactive Brokers Finder Award		Stocks, Bonds, Options, ETFs, Currencies, Futures	min $1.00, max 0.5%	$0	Winner for Best Overall Broker in the Finder Stock Trading Platform Awards.	N/a		Go to site View details	Compare	loading Fetching your data...
FREE TRADES National Bank Direct Brokerage National Bank Direct Brokerage	FREE TRADES	Stocks, Bonds, Options, Mutual Funds, GICs	$0	$0 if conditions met, or $100		Get $0 commission on all transactions with promo code: finder	Get $0 commission on all transactions with promo code: finder	Go to site View details	Compare	loading Fetching your data...
Questrade Questrade		Stocks, Bonds, Options, Mutual Funds, ETFs, GICs, International Equities, Precious Metals	$4.95 - $9.95	$0	Opt for self-directed investing and save on fees or get a pre-built portfolio to take out some of the guesswork.	Get $50 in free trades when you fund your account with a minimum of $1,000.	Get $50 in free trades when you fund your account with a minimum of $1,000.	Go to site View details	Compare	loading Fetching your data...
Qtrade Direct Investing Qtrade Direct Investing		Stocks, Bonds, Options, Mutual Funds, ETFs, GICs	$6.95 - $8.75	$0 if conditions met, otherwise $25/quarter	Low trading commissions and an easy-to-use platform with access to powerful tools and a wide selection of investment options.	Get up to $150 sign-up bonus. Use promo code BONUS150. Conditions apply. Ends June 30, 2023.	Get up to $150 sign-up bonus. Use promo code BONUS150. Conditions apply. Ends June 30, 2023.	Go to site View details	Compare	loading Fetching your data...

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