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 (September 2024)
Over the past month, the technology and financials sectors have grown in Canada, while the healthcare sector has slowed. The S&P/TSX Composite Index has yielded positive month-to-date returns of 1.02% and positive year-to-date returns of 11.39%.
Here’s a quick view of the best Canadian stocks to buy right now. Get more details below.
| YTD | Industry | ||
|---|---|---|---|
| North West Company Inc (NWC) | +40.48% | Grocery Stores | Buy on Interactive Brokers |
| Agnico Eagle Mines Limited (AEM) | +18.16% | Gold | Buy on Interactive Brokers |
| Stelco Holdings (STLC) | +182.41% | Steel | Buy on Interactive Brokers |
| CES Energy Solutions (CEU) | +522.49% | Oil & Gas Equipment & Services | Buy on Interactive Brokers |
| Computer Modelling Group (CMG) | +166.32% | Software—Application | Buy on Interactive Brokers |
YTD performance was updated on Sep. 2, 2024
Our top picks for where to buy the best Canadian stocks
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CA & US trading
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Our selection of top picks is based on the same criteria as our annual Stock Trading Platform Awards. This is updated yearly to reflect changes in the market.
"Best for" picks are those we've evaluated to be best for specific product features or categories – you can read our full methodology here. If we show a "Promoted" pick, it's been chosen from among our commercial partners and is based on factors that include special features or offers, and the commission we receive.
This isn't an exhaustive list of all the trading platforms out there. What's best for you depends on your own investing strategy, budget and financial goals.
More info on the best stocks to buy in Canada right now
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$2.441 billion
- YTD performance: 57.49%
- 1 Year performance: 51.03%
- 5 Year performance: 205.64%
- P/E Ratio: 18.6679
- Headquarters: Canada
Buy on Interactive Brokers
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$52.839 billion
- YTD performance: 17.17%
- 1 Year performance: 82.6%
- 5 Year performance: 141.78%
- P/E Ratio: 67.6026
- Headquarters: Canada
Buy on Interactive Brokers
Stelco Holdings Inc (STLC.TO)
Stelco Holdings Inc. engages in the production and sale of steel products in Canada, the United States, and internationally.
- Market cap: C$3.514 billion
- YTD performance: 178.71%
- 1 Year performance: 95.21%
- 5 Year performance: 1645.83%
- P/E Ratio: 20.4825
- 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: 461.25%
- 1 Year performance: 119.4%
- 5 Year performance: 1086.89%
- 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$952.723 million
- YTD performance: 149.58%
- 1 Year performance: 46.16%
- 5 Year performance: 241.45%
- P/E Ratio: 41.5714
- 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$37.775 billion
- YTD performance: 280.81%
- 1 Year performance: 53.14%
- 5 Year performance: 413.86%
- P/E Ratio: 7.2782
- 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$2.671 billion
- YTD performance: 2751.43%
- 1 Year performance: 47.2%
- 5 Year performance: 4890.01%
- P/E Ratio: 32.7333
- 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$88.719 billion
- YTD performance: 156.72%
- 1 Year performance: 60.87%
- 5 Year performance: 5559%
- P/E Ratio: 101.001
- 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$2.999 billion
- YTD performance: 83.57%
- 1 Year performance: 72.19%
- 5 Year performance: 653.24%
- P/E Ratio: 11.5978
- Headquarters: Canada
Buy on Interactive Brokers
Royal Bank of Canada (RY.TO)
Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.
- Market cap: C$236.046 billion
- YTD performance: 59.28%
- 1 Year performance: 53.93%
- 5 Year performance: 118.82%
- P/E Ratio: 14.7681
- 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$492.944 million
- YTD performance: 674.08%
- 1 Year performance: 60.77%
- 5 Year performance: 1890.48%
- P/E Ratio: 9.375
- 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$1.696 billion
- YTD performance: 248.9%
- 1 Year performance: 112.67%
- 5 Year performance: 1485.56%
- P/E Ratio: 144.4444
- Headquarters: Canada
Buy on Interactive Brokers
Descartes Systems Group Inc (DSG.TO)
The Descartes Systems Group Inc. provides cloud-based logistics and supply chain management solutions worldwide.
- Market cap: C$11.174 billion
- YTD performance: 77.07%
- 1 Year performance: 37.93%
- 5 Year performance: 215.32%
- P/E Ratio: 65.0299
- 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$4.462 billion
- YTD performance: 32.86%
- 1 Year performance: 104.11%
- 5 Year performance: 261.21%
- P/E Ratio: 18.1583
- 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$1.063 billion
- YTD performance: 119.46%
- 1 Year performance: 125.4%
- 5 Year performance: 251.73%
- P/E Ratio: 22.8623
- 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$2.751 billion
- YTD performance: 369.92%
- 1 Year performance: 63.98%
- 5 Year performance: 1260.01%
- P/E Ratio: 5.715
- Headquarters: Canada
Buy on Interactive Brokers
SilverCrest Metals Inc (SIL.TO)
SilverCrest Metals Inc. engages in the acquiring, exploration, and development of precious metal properties in Mexico.
- Market cap: C$1.571 billion
- YTD performance: -26.53%
- 1 Year performance: 91.81%
- 5 Year performance: 129.39%
- P/E Ratio: 11.0104
- Headquarters: Canada
Buy on Interactive Brokers
Taiga Building Products Ltd. (TBL.TO)
Taiga Building Products Ltd. operates as a wholesale distributor of building products in Canada and the United States.
- Market cap: C$418.827 million
- YTD performance: 60.42%
- 1 Year performance: 43.66%
- 5 Year performance: 654.91%
- P/E Ratio: 7.1852
- 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$1.833 billion
- YTD performance: 510.94%
- 1 Year performance: 214.31%
- 5 Year performance: 927.87%
- P/E Ratio: 27.2406
- 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$6.852 billion
- YTD performance: 494.3%
- 1 Year performance: 105.24%
- 5 Year performance: 1385.75%
- P/E Ratio: 13.9205
- 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 circ*mstances.
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.
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We used Finder’s proprietary algorithm to rate stocks listed on the TSX based on price, performance, profit, revenue and dividends. Our fundamental analysis filters stocks by taking into account historical prices, dividends, revenue growth, (low) price volatility and profit margins. This might indicate a quality stock, but we do not guarantee the performance or returns of any investment.
To avoid smaller, more speculative stocks, we only include companies with a market cap of more than CAD $200 million. In order to better compare historical data, we filtered out stocks that have been listed for less than five years. This methodology no doubt filters out some good stocks, so our decision to include or exclude a stock from our list does not indicate whether it’s a good or bad investment.
For more information about our algorithm, check out our stock ranking page.
This list and data was compiled September 2, 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.
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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
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Using Finder's proprietary algorithm, we found the best Canadian stocks to buy right now in September 2024. Out of these, the 5 best Canadian dividend-paying stocks are The North West Company (NWC), Agnico Eagle Mines (AEM), Stelco Holdings (STLC), CES Energy Solutions (CEU) and Computer Modelling Group (CMG).
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The S&P/TSX Composite Index is the benchmark index for the Canadian market. It tracks over 200 companies that represent around 70% of the total market capitalization on the TSX. The S&P/TSX 60 tracks 60 of the largest companies listed on the TSX.
If you want to invest in either of these indices, buy shares of exchange traded funds (ETFs) that hold similar stocks. Examples include the iShares Core S&P/TSX Capped Composite Index ETF (XIC), BMO S&P/TSX Capped Composite Index (ZCN) and Horizons S&P/TSX 60 Index ETF (HXT).
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To buy the best stocks in Canada, you'll need to open an investment account with a broker. Canada's Big Banks offer online investment platforms, but you can also open an account with popular brokers like Wealthsimple, Qtrade and Interactive Brokers.
Related: Best online stock trading platforms in Canada
Disclaimer: This information should not be interpreted as an endorsem*nt 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 circ*mstances, 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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Written by
Mackenzie Domazet
Publisher
Mackenzie Domazet is a Senior SEO Strategist at Forbes Advisor and former investments publisher at Finder. She has worked at one of Canada’s largest financial institutions, as well as one of the country's fastest growing fintech companies. She also films videos for the Investment Finder YouTube channel, where she explains financial concepts, reviews trading platforms and more. An active growth investor, Mackenzie has been investing on her own since she was 18. She has a bachelor’s degree in business and is an avid runner and reader. See full bio
Stacie Hurst is an editor at Finder, specializing in a wide range of topics including loans, banking products, investing and money transfers. She has a Bachelor of Arts in Psychology and Writing, and she completed one year of law school in the United States before deciding to pursue a career in the publishing industry. When not working, Stacie can usually be found watching K-dramas or playing games with her friends and family. See full bio
