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.
Our top picks for where to buy Canadian stocks
Best for Beginners
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- Easy-to-use platform
- Low fees
- Student and young investor discounts
Best for Lowest Commissions
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- Access to international stock exchanges
- Low margin rates
- Powerful research tools
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- $50 in free trades
- Low commissions
- Easy-to-use app
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.
The best Canadian stocks to buy in February 2024
Finder’s list of the best TSX stocks is updated monthly based on the results of our proprietary ranking system. These 20 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.
1: Shopify Inc
2: ARC Resources Ltd.
3: Bird Construction Inc.
4: EcoSynthetix Inc
5: Equitable Group Inc.
6: Fairfax Financial Holdings Ltd
7: Russel Metals Inc.
8: Secure Energy Services Inc.
9: Trican Well Service Ltd.
10: MCAN Mortgage Corporation
11: Onex Corp
12: Constellation Software Inc.
13: Athabasca Oil Corp
14:
15: Black Diamond Group Limited
16: CES Energy Solutions Corp
17: Canadian General Investments Ltd
18: Condor Gold Plc
19: Denison Mines Corp
20: Economic Investment Trust Ltd
Shopify Inc (SHOP.TO)
Shopify Inc., a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.
- Market cap: C$139.308 billion
- YTD performance: -92.35%
- 1 Year performance: 108.49%
- 5 Year performance: 228.06%
- P/E Ratio: N/A
- 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$12.809 billion
- YTD performance: 265.74%
- 1 Year performance: 54.71%
- 5 Year performance: 737.74%
- P/E Ratio: 8.2222
- Headquarters: Canada
Buy on Interactive Brokers
Bird Construction Inc. (BDT.TO)
Bird Construction Inc. provides construction services in Canada.
- Market cap: C$847.488 million
- YTD performance: 108.56%
- 1 Year performance: 105.2%
- 5 Year performance: 296.66%
- P/E Ratio: 13.4701
- 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 coatings; 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, veneers, and laminates to decrease the amount of highly regulated chemicals, such as formaldehyde in their formulation.
- Market cap: C$324.828 million
- YTD performance: 47.43%
- 1 Year performance: 110.86%
- 5 Year performance: 267.57%
- P/E Ratio: N/A
- Headquarters: Canada
Buy on Interactive Brokers
Equitable Group Inc. (EQB.TO)
EQB Inc., through its subsidiary, Equitable Bank, provides personal and commercial banking services to retail and commercial customers in Canada. The company accepts term deposits and guaranteed investment certificates, high interest savings accounts, institutional deposit notes and covered bonds, as well as specialized financing solutions.
- Market cap: C$3.449 billion
- YTD performance: -12.24%
- 1 Year performance: 66.2%
- 5 Year performance: 95.1%
- P/E Ratio: 9.7218
- 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$32.513 billion
- YTD performance: 223.53%
- 1 Year performance: 61.45%
- 5 Year performance: 336.57%
- P/E Ratio: 7.9178
- Headquarters: Canada
Buy on Interactive Brokers
Russel Metals Inc. (RUS.TO)
Russel Metals Inc. operates as a metal distribution and processing company in Canada and the United States.
- Market cap: C$2.806 billion
- YTD performance: 106.33%
- 1 Year performance: 48.79%
- 5 Year performance: 304.13%
- P/E Ratio: 10.2788
- Headquarters: Canada
Buy on Interactive Brokers
Secure Energy Services Inc. (SES.TO)
Secure Energy Services Inc., an energy services company, provides solutions to upstream oil and natural gas companies operating primarily in Canada and the United States. It operates through two segments, Midstream Infrastructure, and Environmental and Fluid Management.
- Market cap: C$3.013 billion
- YTD performance: 328.05%
- 1 Year performance: 78.48%
- 5 Year performance: 1138.83%
- P/E Ratio: 18.9455
- Headquarters: Canada
Buy on Interactive Brokers
Trican Well Service Ltd. (TCW.TO)
Trican Well Service Ltd., an equipment services company, provides various specialized products, equipment, services, and technology for use in the drilling, completion, stimulation, and reworking of oil and gas wells in Canada. The company offers cementing solutions, including pre-flushes and spacers, cement plugs, lost circulation, cement design, and laboratory solutions, as well as surface, intermediate, production, liner, horizontal, and remedial/squeeze cementing services.
- Market cap: C$838.507 million
- YTD performance: 151.5%
- 1 Year performance: 44.83%
- 5 Year performance: 888.24%
- P/E Ratio: 7.6154
- Headquarters: Canada
Buy on Interactive Brokers
MCAN Mortgage Corporation (MKP.TO)
MCAN Mortgage Corporation operates as a loan and mortgage investment corporation in Canada. The company engages in the real estate lending and investing activities, including residential mortgage, residential construction, non-residential construction, and commercial loans, as well as portfolio of real estate investments trusts and private investment activities.
- Market cap: C$587.816 million
- YTD performance: 5.72%
- 1 Year performance: 12.81%
- 5 Year performance: 55.35%
- P/E Ratio: 6.8554
- Headquarters: Canada
Buy on Interactive Brokers
Onex Corp (ONEX.TO)
Onex Corporation is a private equity firm specializing in acquisitions and platform acquisitions. The firm makes investments in buyouts, large- middle market, large-cap, mid-cap, and small-cap market and distressed companies.
- Market cap: C$7.98 billion
- YTD performance: 39.97%
- 1 Year performance: 71.78%
- 5 Year performance: 156.03%
- P/E Ratio: 10.7832
- 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, the United Kingdom, and rest of Europe. The company's industry specific software businesses provide specialized and mission-critical software solutions.
- Market cap: C$76.348 billion
- YTD performance: 120.58%
- 1 Year performance: 64.25%
- 5 Year performance: 5423.84%
- P/E Ratio: 107.5127
- Headquarters: Canada
Buy on Interactive Brokers
Athabasca Oil Corp (ATH.TO)
Athabasca Oil Corporation engages in the exploration, development, and production of 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$2.486 billion
- YTD performance: 2477.15%
- 1 Year performance: 74.81%
- 5 Year performance: 4410%
- P/E Ratio: 6.1268
- Headquarters: Canada
Buy on Interactive Brokers
Aya Gold & Silver Inc (AYA.TO)
Aya Gold & Silver Inc., together with its subsidiaries, engages in the acquisition, exploration, evaluation, and development of precious metal properties in Morocco. The company primarily explores for gold, silver, zinc, lead, tungsten, molybdenum, uranium, and copper deposits.
- Market cap: C$1.194 billion
- YTD performance: 146.7%
- 1 Year performance: 50.38%
- 5 Year performance: 1021.12%
- P/E Ratio: 325
- Headquarters: Canada
Buy on Interactive Brokers
Black Diamond Group Limited (BDI.TO)
Black Diamond Group Limited rents and sells modular space and workforce accommodation solutions. It operates through two segments, Modular Space Solutions and Workforce Solutions.
- Market cap: C$550.617 million
- YTD performance: 249.26%
- 1 Year performance: 76.27%
- 5 Year performance: 843%
- P/E Ratio: 17.283
- 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. It provides solutions for drill-bit, point of completion and stimulation, wellhead and pump-jack, and pipeline and midstream markets.
- Market cap: C$963.064 million
- YTD performance: 221.71%
- 1 Year performance: 78.12%
- 5 Year performance: 580.33%
- P/E Ratio: 7.2143
- Headquarters: Canada
Buy on Interactive Brokers
Canadian General Investments Ltd (CGI.TO)
Canadian General Investments, Limited is a close ended equity mutual fund launched and managed by Morgan Meighen & Associates Limited. It invests in the public equity markets of Canada.
- Market cap: C$752.043 million
- YTD performance: -0.3%
- 1 Year performance: 10.33%
- 5 Year performance: 110.48%
- P/E Ratio: N/A
- Headquarters: Canada
Buy on Interactive Brokers
Condor Gold Plc (COG.TO)
Condor Gold Plc, together with its subsidiaries, operates as a gold exploration and development company in the United Kingdom and Nicaragua. It also explores for silver mines.
- Market cap: C$92.942 million
- YTD performance: -54.8%
- 1 Year performance: 104.88%
- 5 Year performance: 104.88%
- P/E Ratio: N/A
- Headquarters: Canada
Buy on Interactive Brokers
Denison Mines Corp (DML.TO)
Denison Mines Corp. operates as a uranium exploration and development company in Canada.
- Market cap: C$2.331 billion
- YTD performance: 190%
- 1 Year performance: 94.78%
- 5 Year performance: 832.15%
- P/E Ratio: 38.1429
- Headquarters: Canada
Buy on Interactive Brokers
Economic Investment Trust Ltd (EVT.TO)
Economic Investment Trust Limited is a closed-ended equity mutual fund launched and managed by Burgundy Asset Management Ltd. The fund invests in public equity markets across the globe.
- Market cap: C$781.796 million
- YTD performance: 30.1%
- 1 Year performance: 14.12%
- 5 Year performance: 69.79%
- P/E Ratio: 2.7056
- Headquarters: Canada
Buy on Interactive Brokers
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 circ*mstances. 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.
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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 February 1, 2024. The algorithm was last updated January 27, 2021.
Canadians consider stocks a smart investment option in 2023
According to results from the Finder: Consumer Sentiment Tracker 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 Tracker Q2 (CSTQ2).
Men preferred stocks as an investment option, with 41% considered 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) and 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)
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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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.
Finder: Consumer Sentiment Tracker Q1 (CSTQ1)
- Finder: Consumer Sentiment Tracker Q2 (CSTQ2)
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