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Best stocks to buy right now in Canada

These are the 20 best Canadian stocks to buy right now.

best stocks to buy right now in Canada

Finder’s list of the best stocks to buy right now in Canada is updated monthly based on the results of our proprietary ranking system. These 20 best Canadian stocks (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.

The best stocks to buy right now in Canada (June 2024)

Over the past month, the materials, consumer staples and utilities sectors have grown in Canada, while the healthcare and energy sectors have dipped. The S&P/TSX Composite Index has yielded negative month-to-date returns of -0.56% and positive year-to-date returns of 5.66%.

In a March report, Canadian Securities Exchange CEO Richard Carleton said that, despite challenging market conditions, there was strong investor interest in small-cap securities.

Here’s a quick view of the best Canadian stocks to buy right now. Get more details below.

YTDIndustry
Agnico Eagle Mines Limited (AEM)-3.1%GoldBuy on Interactive Brokers
Denison Mines (DML)+230.01%UraniumBuy on Interactive Brokers
ARC Resources (ARX)+311.21%Oil & Gas E&PBuy on Interactive Brokers
CES Energy Solutions (CEU)+431.79%Oil & Gas Equipment & ServicesBuy on Interactive Brokers
Computer Modelling Group (CMG)+186.02%Software – ApplicationBuy on Interactive Brokers

YTD performance was updated on May 3, 2024

Our top picks for where to buy the best Canadian stocks

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More info on the best stocks to buy in Canada right now

Agnico Eagle Mines Limited (AEM.TO)

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold.
  • Market cap: C$43.722 billion
  • YTD performance: -4.51%
  • 1 Year performance: 48.81%
  • 5 Year performance: 97.03%
  • P/E Ratio: 81.2593
  • Headquarters: Canada

Buy on Interactive Brokers

Denison Mines Corp (DML.TO)

Denison Mines Corp. engages in the acquisition, exploration, and development of uranium bearing properties in Canada.
  • Market cap: C$2.543 billion
  • YTD performance: 223.34%
  • 1 Year performance: 87.75%
  • 5 Year performance: 939.29%
  • P/E Ratio: 35.625
  • Headquarters: Canada

Buy on Interactive Brokers

ARC Resources Ltd. (ARX.TO)

ARC Resources Ltd. engages in the acquiring and developing crude oil, natural gas, condensate, and natural gas liquids in Canada.
  • Market cap: C$14.967 billion
  • YTD performance: 289.3%
  • 1 Year performance: 36.75%
  • 5 Year performance: 791.7%
  • P/E Ratio: 12.5829
  • Headquarters: Canada

Buy on Interactive Brokers

STEP Energy Services Ltd (STEP.TO)

STEP Energy Services Ltd., an energy services company, provides integrated coiled tubing, fluid and nitrogen pumping, and hydraulic fracturing to service oil and natural gas industry in Canada and the United States. It also provides fluid pumping services for coiled tubing operations and involved in standalone projects; pipeline commissioning and maintenance services; fracturing logistics services; and laboratory services.
  • Market cap: C$296.477 million
  • YTD performance: 436.85%
  • 1 Year performance: 41.67%
  • 5 Year performance: 1260.01%
  • P/E Ratio: 4.4731
  • Headquarters: Canada

Buy on Interactive Brokers

CES Energy Solutions Corp (CEU.TO)

CES Energy Solutions Corp., together with its subsidiaries, engages in design, implement, and manufacture of advanced consumable fluids and specialty chemicals in the United States and Canada. The company provides solutions for drill-bit, point of completion and stimulation, wellhead and pump-jack, and pipeline and midstream markets.
  • Market cap: C$1.102 billion
  • YTD performance: 449.62%
  • 1 Year performance: 192.98%
  • 5 Year performance: 1062.3%
  • P/E Ratio: 8.4464
  • Headquarters: Canada

Buy on Interactive Brokers

Computer Modelling Group Ltd. (CMG.TO)

Computer Modelling Group Ltd., a software and consulting technology company, engages in the development and licensing of reservoir simulation and seismic interpretation software and related services. The company offers CMOST-AI, an optimization and analysis tool that offers solution for reservoir by combining advanced statistical analysis, machine learning, and impartial data interpretation; IMEX, a black oil simulator that is used to model primary, secondary, and tertiary oil recovery processes in conventional and unconventional reservoirs; and GEM, an equation-of-state reservoir simulator for compositional, chemical, and unconventional reservoir modelling.
  • Market cap: C$1.052 billion
  • YTD performance: 173.31%
  • 1 Year performance: 107.73%
  • 5 Year performance: 273.92%
  • P/E Ratio: 40.375
  • Headquarters: Canada

Buy on Interactive Brokers

Fairfax Financial Holdings Ltd (FFH.TO)

Fairfax Financial Holdings Limited, through its subsidiaries, provides property and casualty insurance and reinsurance, and investment management services in the United States, Canada, Asia, and internationally. The company operates through Property and Casualty Insurance and Reinsurance, Life insurance and Run-off, and Non-Insurance Companies segments.
  • Market cap: C$35.654 billion
  • YTD performance: 248.85%
  • 1 Year performance: 61.34%
  • 5 Year performance: 370.74%
  • P/E Ratio: 7.1943
  • Headquarters: Canada

Buy on Interactive Brokers

Stantec Inc (STN.TO)

Stantec Inc. provides professional services in the areas of infrastructure and facilities to the public and private sectors in Canada, the United States, and internationally.
  • Market cap: C$12.955 billion
  • YTD performance: 174.01%
  • 1 Year performance: 36.68%
  • 5 Year performance: 306.77%
  • P/E Ratio: 36.754
  • Headquarters: Canada

Buy on Interactive Brokers

Ur Energy Inc (URE.TO)

Ur-Energy Inc. engages in the acquisition, exploration, development, and operation of uranium mineral properties.
  • Market cap: C$577.334 million
  • YTD performance: 98.1%
  • 1 Year performance: 65.08%
  • 5 Year performance: 383.73%
  • P/E Ratio: N/A
  • Headquarters: Canada

Buy on Interactive Brokers

Athabasca Oil Corp (ATH.TO)

Athabasca Oil Corporation engages in the exploration, development, and production of thermal and light oil resource plays in the Western Canadian Sedimentary Basin in Alberta, Canada. It operates through Thermal Oil and Light Oil segments.
  • Market cap: C$2.728 billion
  • YTD performance: 2677.15%
  • 1 Year performance: 88.38%
  • 5 Year performance: 4760%
  • P/E Ratio: 61
  • Headquarters: Canada

Buy on Interactive Brokers

Constellation Software Inc. (CSU.TO)

Constellation Software Inc., together with its subsidiaries, acquires, builds, and manages vertical market software businesses in Canada, the United States, Europe, and internationally. It provides mission critical software solutions for public and private sector markets.
  • Market cap: C$80.528 billion
  • YTD performance: 127.25%
  • 1 Year performance: 45.07%
  • 5 Year performance: 4909.32%
  • P/E Ratio: 102.0408
  • Headquarters: Canada

Buy on Interactive Brokers

goeasy Ltd (GSY.TO)

goeasy Ltd. provides non-prime leasing and lending services under the easyhome, easyfinancial, and LendCare brands to consumers in Canada.
  • Market cap: C$3.23 billion
  • YTD performance: 89.94%
  • 1 Year performance: 78.16%
  • 5 Year performance: 679.35%
  • P/E Ratio: 12.9886
  • Headquarters: Canada

Buy on Interactive Brokers

North West Company Inc (NWC.TO)

The North West Company Inc., through its subsidiaries, engages in the retail of food and everyday products and services to rural communities and urban neighborhood markets in northern Canada, rural Alaska, the South Pacific, and the Caribbean. The company operates Northern stores, which offers food, financial services, and general merchandise; NorthMart stores that provides fresh food products, apparel, and health products and services; and Quickstop convenience stores that provides ready-to-eat food products, and fuel and related services.
  • Market cap: C$2.058 billion
  • YTD performance: 30.73%
  • 1 Year performance: 43.1%
  • 5 Year performance: 153.71%
  • P/E Ratio: 15.5921
  • Headquarters: Canada

Buy on Interactive Brokers

Valeura Energy Inc (VLE.TO)

Valeura Energy Inc., together with its subsidiaries, engages in the exploration, development, and production of petroleum and natural gas in Thailand and in Turkey. The company was founded in 2010 and is headquartered in Singapore..
  • Market cap: C$558.408 million
  • YTD performance: 848.15%
  • 1 Year performance: 201.18%
  • 5 Year performance: 2338.1%
  • P/E Ratio: 53
  • Headquarters: Canada

Buy on Interactive Brokers

Aya Gold & Silver Inc (AYA.TO)

Aya Gold & Silver Inc., together with its subsidiaries, engages in the exploration, evaluation, and development of precious metals projects in Morocco. The company primarily explores for gold and silver deposits.
  • Market cap: C$1.819 billion
  • YTD performance: 226.66%
  • 1 Year performance: 99.11%
  • 5 Year performance: 1384.45%
  • P/E Ratio: 1398
  • Headquarters: Canada

Buy on Interactive Brokers

Eldorado Gold Corp (ELD.TO)

Eldorado Gold Corporation, together with its subsidiaries, engages in the mining, exploration, development, and sale of mineral products primarily in Turkey, Canada, Greece, and Romania. The company primarily produces gold, as well as silver, lead, and zinc.
  • Market cap: C$4.223 billion
  • YTD performance: 15.87%
  • 1 Year performance: 78%
  • 5 Year performance: 245.43%
  • P/E Ratio: 24.9398
  • Headquarters: Canada

Buy on Interactive Brokers

Enerplus Corporation (ERF.TO)

Enerplus Corporation, together with its subsidiaries, explores and develops crude oil and natural gas in the United States. Its oil and natural gas properties are located primarily in North Dakota, Colorado, and Pennsylvania.
  • Market cap: C$5.66 billion
  • YTD performance: 594%
  • 1 Year performance: 52.03%
  • 5 Year performance: 1416.94%
  • P/E Ratio: 10.9306
  • Headquarters: Canada

Buy on Interactive Brokers

Fortuna Silver Mines Inc (FVI.TO)

Fortuna Silver Mines Inc. engages in the precious and base metal mining in Argentina, Burkina Faso, Mexico, Peru, and Côte d'Ivoire.
  • Market cap: C$2.11 billion
  • YTD performance: -38.79%
  • 1 Year performance: 90.48%
  • 5 Year performance: 204.94%
  • P/E Ratio: N/A
  • Headquarters: Canada

Buy on Interactive Brokers

Heroux-Devtek Inc. (HRX.TO)

Héroux-Devtek Inc. engages in the design, development, manufacture, and repair and overhaul of aircraft landing gears, hydraulic and electromechanical flight control actuators, custom ball screws, and fracture-critical components.
  • Market cap: C$838.648 million
  • YTD performance: 70.23%
  • 1 Year performance: 74.83%
  • 5 Year performance: 172.81%
  • P/E Ratio: 22.0531
  • Headquarters: Canada

Buy on Interactive Brokers

Olympia Financial Group Inc (OLY.TO)

Olympia Financial Group Inc., through its subsidiary, Olympia Trust Company, operates as a non-deposit taking trust company in Canada. The company operates through Investment Account Services, Currency and Global Payments, Private Health Services Plan, Exempt Edge, and Corporate and Shareholder Services divisions.
  • Market cap: C$236.351 million
  • YTD performance: 153.83%
  • 1 Year performance: 47.27%
  • 5 Year performance: 223.63%
  • P/E Ratio: 10.3608
  • Headquarters: Canada

Buy on Interactive Brokers

What you should know before buying the best Canadian stocks

There’s no single winning strategy to finding what experts might call the best stocks to buy right now in Canada, because the most important considerations are your own goals and circumstances.

Our list of the best Canadian stocks is not personal financial advice; we have not considered your personal objectives and financial situation. 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 what risk you’re comfortable with and whether a stock is performing well, making a profit, paying dividends or losing value. Past performance does not guarantee future results. Investments can increase and decrease in value.

This list and data was compiled June 6, 2024. The algorithm was last updated January 27, 2021.

Compare online brokers to buy the best stocks in Canada

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.

1 - 6 of 6
Name Product Finder Rating Available Asset Types Stock Trading Fee Account Fee Signup Offer Table description
Interactive Brokers
Finder Score:
★★★★★
4.2 / 5
Stocks, Bonds, Options, Index Funds, ETFs, Currencies, Futures
min $1.00, max 0.5%
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Moomoo Financial Canada
Finder Score:
★★★★★
3.9 / 5
Stocks, Options, ETFs
$0.014/stock
$0
Get up to $1,200 or a $1,200 Apple gift card
Trade US stocks for up to 90% less and access free real time stock quotes and level 2 market data. T&C's Apply.
CIBC Investor's Edge
Finder Score:
★★★★★
3.7 / 5
Stocks, Bonds, Options, Mutual Funds, ETFs
$6.95
$0 if conditions met, or $100
100 free trades + up to $4,500 cash back
An easy-to-use platform with access to a variety of tools to help you trade with confidence.
RBC Direct Investing
Finder Score:
★★★★★
3.8 / 5
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs
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$0 if conditions met, otherwise $25/quarter
N/A
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Questrade
Finder Score:
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3.9 / 5
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs, International Equities, Precious Metals
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Qtrade Direct Investing
Finder Score:
★★★★★
3.6 / 5
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs
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Canadians consider stocks a smart investment option: 2023 survey

According to results from the Finder: Consumer Sentiment Survey Q1 (CSTQ1), more than a third (36.18%) of Canadians considered equities to be a smart investment in the first quarter of 2023. This dropped only slightly in the second quarter of 2023 to 27%, according to the Finder: Consumer Sentiment Survey Q2 (CSTQ2).

Men preferred stocks as an investment option, with 41% considering Q1 2023 a “good time to invest in stocks,” compared to 32% of female investors.(1)

Age also had an impact on an investor’s confidence in stocks as an investment opportunity. The youngest generation, Gen Z (investors up to the age of 24) had the most confidence in stocks as a good investment opportunity in the first quarter of 2023 with 53% believing “now is a good time to invest in stocks,” compared to 42% of millennials, 31% of Gen X and 19% of baby boomers.

In general, almost a third of Canadians investors (31%) held stocks outside of their registered accounts, such a retirement savings fund (RRSP) or Tax-Free Savings Fund Account (TFSA). Almost three quarters (72%) bought or sold stock through an online stock platform or app. This seems logical, given that 29% of respondents in the CSTQ2 stated they had never worked with, and had no plans to use, the services of a financial advisor.(2)

FAQs about the best TSX stocks to buy right now

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. Read the Product Disclosure Statement (PDS) and Target Market Determination (TMD) for the product on the provider's website.

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