Finder makes money from featured partners, but editorial opinions are our own.

Best stocks to buy right now in Canada

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

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 (April 2024)

Over the past month, the energy, healthcare and materials sectors have seen solid growth in Canada, while the communications and technology sectors have dipped. The S&P/TSX Composite Index has yielded positive total returns of 0.25% month to date and 6.89% year to date.

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
Denison Mines (DML)+205.56%UraniumBuy on Interactive Brokers
ARC Resources (ARX)+319.12%Oil & Gas E&PBuy on Interactive Brokers
CES Energy Solutions (CEU)+318.61%Oil & Gas Equipment & ServicesBuy on Interactive Brokers
Computer Modelling Group (CMG)+105.09%Software – ApplicationBuy on Interactive Brokers
Fairfax Financial (FFH)+238.15%Insurance – Property & CasualtyBuy on Interactive Brokers

YTD performance was updated on April 10, 2024

Our top picks for where to buy the best Canadian stocks

Best for Beginners

Go to site
Free trades for young investors
  • Easy-to-use platform
  • Low fees
  • Student and young investor discounts

Best for Lowest Commissions

Go to site
Low margin rates
  • Access to international stock exchanges
  • Low margin rates
  • Powerful research tools

Best for Easy-to-use App

Go to site
Low commissions
  • $50 in free trades
  • Low commissions
  • Easy-to-use app

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

Denison Mines Corp (DML.TO)

Denison Mines Corp. engages in the acquisition, exploration, and development of uranium bearing properties in Canada.
  • Market cap: C$2.575 billion
  • YTD performance: 214.45%
  • 1 Year performance: 108.09%
  • 5 Year performance: 910.72%
  • P/E Ratio: 41.2857
  • 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$15.385 billion
  • YTD performance: 311.87%
  • 1 Year performance: 59.65%
  • 5 Year performance: 843.4%
  • P/E Ratio: 9.8621
  • 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: 344.97%
  • 1 Year performance: 146.36%
  • 5 Year performance: 840.99%
  • P/E Ratio: 8.4464
  • Headquarters: Canada

Buy on Interactive Brokers

Computer Modelling Group Ltd. (CMG.TO)

Computer Modelling Group Ltd., a computer software technology company, engages in the development and licensing of reservoir simulation software and related services in Canada and internationally. The company offers CMOST-AI, an intelligent optimization and analysis tool that offers solution for reservoir by combining advanced statistical analysis, machine learning, and non-biased data interpretation; IMEX, a black oil simulator that is used to model primary and secondary 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$798.541 million
  • YTD performance: 110.39%
  • 1 Year performance: 59.91%
  • 5 Year performance: 187.83%
  • P/E Ratio: 33.8966
  • 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$35.574 billion
  • YTD performance: 235.65%
  • 1 Year performance: 60.41%
  • 5 Year performance: 352.93%
  • P/E Ratio: 6.3857
  • 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$12.646 billion
  • YTD performance: 166.83%
  • 1 Year performance: 42.65%
  • 5 Year performance: 296.12%
  • P/E Ratio: 37.2013
  • 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$659.005 million
  • YTD performance: 120.96%
  • 1 Year performance: 103.51%
  • 5 Year performance: 439.54%
  • 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$3.006 billion
  • YTD performance: 2814.29%
  • 1 Year performance: 97.68%
  • 5 Year performance: 5000%
  • P/E Ratio: N/A
  • 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$76.925 billion
  • YTD performance: 114.9%
  • 1 Year performance: 40.74%
  • 5 Year performance: 5094.61%
  • P/E Ratio: 100.3314
  • 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$2.838 billion
  • YTD performance: 68.2%
  • 1 Year performance: 86.49%
  • 5 Year performance: 590.14%
  • P/E Ratio: 11.7852
  • Headquarters: Canada

Buy on Interactive Brokers

Obsidian Energy Ltd (OBE.TO)

Obsidian Energy Ltd. engages in the exploration, production, and development of oil and natural gas properties in the Western Canada.
  • Market cap: C$920.685 million
  • YTD performance: 1202.28%
  • 1 Year performance: 60.96%
  • 5 Year performance: 4776.6%
  • P/E Ratio: 9.3047
  • 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$553.688 million
  • YTD performance: 955.56%
  • 1 Year performance: 235.3%
  • 5 Year performance: 2614.29%
  • P/E Ratio: 2.2521
  • 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$4.333 billion
  • YTD performance: 16.83%
  • 1 Year performance: 79.48%
  • 5 Year performance: 384.67%
  • P/E Ratio: 29.2192
  • 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$5.787 billion
  • YTD performance: 603%
  • 1 Year performance: 54%
  • 5 Year performance: 1436.62%
  • P/E Ratio: 10.0246
  • Headquarters: Canada

Buy on Interactive Brokers

Secure Energy Services Inc. (SES.TO)

Secure Energy Services Inc. engages in the waste management and energy infrastructure businesses primarily in Canada and the United States.
  • Market cap: C$3.322 billion
  • YTD performance: 357.32%
  • 1 Year performance: 90.68%
  • 5 Year performance: 1223.53%
  • P/E Ratio: 18.2462
  • Headquarters: Canada

Buy on Interactive Brokers

Terravest Capital Inc (TVK.TO)

TerraVest Industries Inc. manufactures and sells goods and services to energy, agriculture, mining, transportation, and other markets in Canada and the United States.
  • Market cap: C$1.234 billion
  • YTD performance: 359.25%
  • 1 Year performance: 194.87%
  • 5 Year performance: 672.67%
  • P/E Ratio: 26.1923
  • Headquarters: Canada

Buy on Interactive Brokers

Celestica Inc. (CLS.TO)

Celestica Inc. provides supply chain solutions in North America, Europe, and Asia.
  • Market cap: C$7.508 billion
  • YTD performance: 485.51%
  • 1 Year performance: 319.09%
  • 5 Year performance: 1363.77%
  • P/E Ratio: 22.808
  • Headquarters: Canada

Buy on Interactive Brokers

Canadian National Railway Co (CNR.TO)

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.
  • Market cap: C$113.4 billion
  • YTD performance: 26.33%
  • 1 Year performance: 23.8%
  • 5 Year performance: 88.55%
  • P/E Ratio: 20.74
  • Headquarters: Canada

Buy on Interactive Brokers

EcoSynthetix Inc (ECO.TO)

EcoSynthetix Inc., a renewable chemicals company, develops and commercializes bio-based technologies that are used as replacement solutions for synthetic, petrochemical-based adhesives, and other related products worldwide. The company offers EcoMer biomonomer for use in pressure sensitive adhesives, ink, toner resins, and paints; EcoSphere biolatex, a bio-based latex binder used in paper and paperboard industry; EcoStix, a family of sugar-acrylic and pressure-sensitive adhesives, which include customizable resin grades and formulated grades; and DuraBind engineered biopolymers that enable manufacturers of particle board, MDF, and OSB to decrease the amount of highly regulated chemicals, such as formaldehyde in their formulation.
  • Market cap: C$291.87 million
  • YTD performance: 30.63%
  • 1 Year performance: 86.83%
  • 5 Year performance: 225.68%
  • P/E Ratio: N/A
  • Headquarters: Canada

Buy on Interactive Brokers

Fennec Pharmaceuticals Inc (FRX.TO)

Fennec Pharmaceuticals Inc. operates as a biopharmaceutical company.
  • Market cap: C$396.682 million
  • YTD performance: 57.95%
  • 1 Year performance: 54.37%
  • 5 Year performance: 220.86%
  • P/E Ratio: N/A
  • 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 April 10, 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 - 4 of 4
Name Product Finder Rating Available Asset Types Stock Trading Fee Account Fee Signup Offer Table description
Interactive Brokers
Finder Score:
★★★★★
4.3 / 5
Stocks, Bonds, Options, ETFs, Currencies, Futures
min $1.00, max 0.5%
$0
N/A
Winner for Best Overall Broker in the Finder Stock Trading Platform Awards.
CIBC Investor's Edge
Finder Score:
★★★★★
3.8 / 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.
Questrade
Finder Score:
★★★★★
4.3 / 5
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs, International Equities, Precious Metals
$4.95 - $9.95
$0
Get $50 in free trades when you fund your account with a minimum of $1,000.
Opt for self-directed investing and save on fees or get a pre-built portfolio to take out some of the guesswork.
Qtrade Direct Investing
Finder Score:
★★★★★
3.7 / 5
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs
$6.95 - $8.75
$0 if conditions met, otherwise $25/quarter
Get up to a $150 sign-up bonus. Use code OFFER2024. Ends October 31, 2024.
Low trading commissions and an easy-to-use platform with access to powerful tools and a wide selection of investment options.
loading

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.

More on investing

More guides on Finder

Go to site