Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
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
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
Interactive Brokers
- Access to international stock exchanges
- Low margin rates
- Powerful research tools
National Bank Direct Brokerage
- Commission-free trading
- Several account types available
- Access to array of research tools
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
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
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
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
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
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
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
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
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
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
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.
More on investing

How do ETFs work?
Your guide to how ETFs work and whether this type of investment is right for you.
Read more…
Best stock app for beginners
The best stock trading app for beginners is easy to use and offers free trades.
Read more…
How to read stock charts
Learning how to read stock charts and recognize chart patterns can unlock your success as a trader.
Read more…
3 upcoming IPOs to watch in March 2023
An healthcare company, NFT tech developer and baby products retailer are among the IPOs expected to take place this month.
Read more…
What are stocks?
Owning a stock means you own part of a company and can potentially grow your wealth. But there is a risk of loss.
Read more…
Best time to buy stocks
The best time to buy stocks could be right after an IPO, during expansion periods or when other investors are buying or selling.
Read more…More guides on Finder
-
How to buy Neuraxis (NRXS) stock in Canada when it goes public
Everything we know about the Neuraxis IPO plus information on how to buy in.
-
How to buy Brera (BREA) stock in Canada
Everything we know about the Brera IPO plus information on how to buy in.
-
How to buy TXO Energy (TXO) stock in Canada
Everything we know about the TXO Energy IPO plus information on how to buy in.
-
How do ETFs work?
Your guide to how ETFs work and whether this type of investment is right for you.
-
How to buy Torex Gold stock in Canada
Steps to owning and managing TXG stock, with 24-hour and historical pricing before you buy.
-
Best stock app for beginners
The best stock trading app for beginners is easy to use and offers free trades.
-
How to read stock charts
Learning how to read stock charts and recognize chart patterns can unlock your success as a trader.
-
3 upcoming IPOs to watch in March 2023
An healthcare company, NFT tech developer and baby products retailer are among the IPOs expected to take place this month.
-
What are stocks?
Owning a stock means you own part of a company and can potentially grow your wealth. But there is a risk of loss.
-
Best time to buy stocks
The best time to buy stocks could be right after an IPO, during expansion periods or when other investors are buying or selling.