Stock is a security that represents the ownership of a fraction of a corporation. A share is a unit of stock and stocks of public corporations are traded on the stock exchange. Canadians have built a culture of investing in stocks over the years.
However, recent developments in the stock market, especially due to the effect of Covid-19, have depicted a struggle for material, energy, and financial stocks in the market.
Stocks are expected to struggle further due to reduced disposable income, prevailing low-interest-rate environment, and the high unemployment rate in Canada. We’re already in a recession and it may take some years to recover. However, investors can still make money with Canadian stocks.
We have done some research on Canadian stocks and in this article, we present the 20 best Canadian stocks to buy.
Disclaimer: Stock trading is risky and not suitable for every investor. The valuation of stocks fluctuates constantly, so this article might not reflect the current market situation. This is only for informational purposes. Please contact your financial advisor before making any financial decisions.
1. Restaurants Brands International Stocks
Restaurants Brands International Inc. owns, operates, and franchises service restaurants under the Tim Hortons (TH), Burger King (BK), and Popeyes (PLK) brand names.
It was founded in 1954 and Its headquarter is in Toronto, Canada. It owns or franchised over 4,932 TH restaurants, 18,838 BK restaurants, and 3,316 PLK restaurants, and yet counting.
QSR entered a partnership with UberEats, the organization reported strong overall sales growth led by nearly 4% at Burger King, 3% at Popeyes, and almost 1% at Tim Hortons.
The company announced a master franchise agreement to open 1,500 new Popeyes restaurants in China over the next decade, new units that would represent 50% of the brand’s current store base.
Record on the table as of Feb. 24, 2021.
S.N. | Restaurants Brands International, Inc. (NYSE: QSR) | |
1 | Share Value | US$62.02 |
2 | Market Capitalization | US$18.93 billion |
3 | Dividend Yield | 3.47%. |
4 | Dividend Date | April 6, 2021 |
5 | Consensus Rating | Buy – 2.68 |
6 | Consensus Price Target | US$65.18 |
7 | Price Target Upside | 5.10% Upside |
8 | 2021 Earnings Per Share Consensus Estimate | US$2.81 |
9 | Short Interest Ratio/Days to Cover | 5.0 |
2. Kinross Gold Corporation Stocks
KGC with its subsidiaries engages in the acquisition, exploration, extraction, development, and processing of gold properties principally in Canada, the United States of America, Russia, Brazil, Chile, Ghana, and Mauritania.
The corporation has proven and probable mineral reserves of 24.3 million ounces of gold and 55.7 million ounces of Silver. The company was founded in 1993 and its headquarter is in Toronto, Canada.
Record on the table as of Feb. 24, 2021.
S.N. | Kinross Gold Corporation (NYSE: KGC) | |
1 | Share Value | US$6.81 |
2 | Market Capitalization | US$8.57 billion |
3 | Dividend Yield | 1.79% |
4 | Dividend Date | March 18, 2021 |
5 | Consensus Rating | Buy – 2.92 |
6 | Consensus Price Target | US$11.80 |
7 | Price Target Upside | 73.21% Upside |
8 | 2021 Earnings Per Share Consensus Estimate | US$0.97 |
9 | Short Interest Ratio/Days to Cover | 1.0 |
3. Shopify Stocks
Shopify Inc. provides a cloud-based multichannel commerce platform for small and medium-sized businesses in Canada, the United States of America, Australia, and Internationally. It provides Web and mobile storefronts, physical retail locations, social media storefronts, and market places.
The company was formerly known as Jaded Pixel Technologies Inc. and was founded in 2004. Its name changed to Shopify Inc in November 2011 and its headquarter is in Ottawa, Canada.
Record on the table as of Feb. 24, 2021.
S.N. | Shopify (NYSE: SHOP) | |
1 | Share Value | US$1,301.15 |
2 | Market Capitalization | US$158.63 billion |
3 | Dividend Yield | % |
4 | Dividend Date | May 5, 2021 |
5 | Consensus Rating | Hold – 2.45 |
6 | Consensus Price Target | US$1,287.62 |
7 | Price Target Upside | 1.04% Downside |
8 | 2021 Earnings Per Share Consensus Estimate | US$1.36 |
9 | Short Interest Ratio/Days to Cover | 1.0 |
4. Barrick Gold Corporation Stocks (NYSE: GOLD)
Barrick Gold engages in the exploration and development of mineral properties. It primarily explores gold and copper deposits. Barrick Gold has a strategic cooperation agreement with Shandong Gold Group Co. Ltd; the company was founded in 1983 and its headquarter is in Toronto, Canada.
The company holds 50% interest in the Varadero Mine in Australia, 95% interest in the Porgera gold mine in New Guinea, 50% interest in Zaldivar copper mine in Chile, and 50% interest in Jabal Sayid copper mine in Saudi Arabia.
Record on the table as of Feb. 24, 2021.
S.N. | Barrick Gold Corporation (NYSE: GOLD) | |
1 | Share Value | US$20.10 |
2 | Market Capitalization | US$35.74 billion |
3 | Dividend Yield | 1.79% |
4 | Dividend Date | May 5, 2021 |
5 | Consensus Rating | Buy – 2.93 |
6 | Consensus Price Target | US$31.66 |
7 | Price Target Upside | 57.51% Upside |
8 | 2021 Earnings Per Share Consensus Estimate | US$1.38 |
9 | Short Interest Ratio/Days to Cover | 0.0 |
5. Franco-Nevada Corp Stocks
Franco-Nevada Corp. operates as a gold-focused royalty and stream company in the USA, Canada, Latin America, Australia, Europe, and Africa. It operates in the mining and energy segment with a focus on precious gold, silver, and platinum; it also engages in oil, gas, and natural gas liquids businesses. The company was incorporated in 2007 and headquartered in Toronto, Canada.
Record on the table as of Feb. 24, 2021.
S.N. | Franco-Nevada Corp. (NYSE: FNV) | |
1 | Share Value | US$113.77 |
2 | Market Capitalization | US$21.73 billion |
3 | Dividend Yield | 0.93% |
4 | Dividend Date | March 10, 2021 |
5 | Consensus Rating | Hold – 2.36 |
6 | Consensus Price Target | US$3165.67 |
7 | Price Target Upside | 45.62% Upside |
8 | 2021 Earnings Per Share Consensus Estimate | US$3.15 |
9 | Short Interest Ratio/Days to Cover | 4.0 |
6. Telus Corporation Stocks
Telus corporation together with its subsidiaries provides a range of telecommunications and information technology products and services in Canada. It operates through the wireless and wireline segments and it has over 16 million subscriber connections.
The company was initially known as Telus Communications Inc, founded in 1993, before it changed its name to Telus Corp. in February 2005. Its headquarter is in Vancouver, Canada.
Record on the table as of Feb. 24, 2021.
S.N. | Telus Corporation (NYSE: TU) | |
1 | Share Value | US$20.33 |
2 | Market Capitalization | US$26.23 billion |
3 | Dividend Yield | 4.69% |
4 | Dividend Date | May 6, 2021 |
5 | Consensus Rating | Buy – 2.90 |
6 | Consensus Price Target | US$28.29 |
7 | Price Target Upside | 39.13% Upside |
8 | 2021 Earnings Per Share Consensus Estimate | US$0.84 |
9 | Short Interest Ratio/Days to Cover | 5.0 |
7. Bausch Health Companies Stocks
Bausch Health Companies Inc. develops, manufactures, and markets a range of pharmaceutical, medical device, and over-the-counter (OTC) products primarily in the therapeutic areas of eye health, gastroenterology, and dermatology. The company operates through four segments: Bausch + Lomb/International, Salix, Ortho Dermatologics, and Diversified Products.
The company was formerly known as Valeant Pharmaceuticals International, Inc. and changed its name to Bausch Health Companies Inc. in July 2018. Bausch Health Companies Inc. is headquartered in Laval, Canada.
Record on the table as of Feb. 24, 2021.
S.N. | Bausch Health Companies (NYSE: BHC) | |
1 | Share Value | US$31.05 |
2 | Market Capitalization | US$11.03 billion |
3 | Dividend Yield | % |
4 | Dividend Date | Feb. 24, 2021 |
5 | Consensus Rating | Buy – 2.58 |
6 | Consensus Price Target | US$29.64 |
7 | Price Target Upside | 4.55% Downside |
8 | 2021 Earnings Per Share Consensus Estimate | US$4.48 |
9 | Short Interest Ratio/Days to Cover | 4.0 |
8. Brookfield Asset Management Stocks
Brookfield Asset Management is a leading global alternative asset manager and one of the largest investors in real assets. Their investment focus is on real estate, renewable power, infrastructure, and private equity assets. The organization’s objective is to generate attractive long-term risk-adjusted returns for the benefit of its clients and shareholders.
They manage a range of public and private investment products and services for institutional and retail clients. They earn asset management income for their services.
The balance sheet of the organization indicates over $30 billion of capital invested, primarily in their four listed partnerships: Brookfield Property Partners, Brookfield Infrastructure Partners, Brookfield Renewable Partners, and Brookfield Business Partners.
Record on the table as of Feb. 24, 2021.
S.N. | Brookfield Asset Management (NYSE: BAM) | |
1 | Share Value | US$44.21 |
2 | Market Capitalization | US$66.74 billion |
3 | Dividend Yield | 1.11% |
4 | Dividend Date | May 13, 2021 |
5 | Consensus Rating | Buy – 3.10 |
6 | Consensus Price Target | US$45.32 |
7 | Price Target Upside | 2.51% Downside |
8 | 2021 Earnings Per Share Consensus Estimate | US$1.87 |
9 | Short Interest Ratio/Days to Cover | 6.0 |
9. Canadian Natural Resources Stocks
Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil.
Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose. The company has crude oil, bitumen, SCO, and NGLs reserves totaled 9,917 million barrels; gross proved plus probable crude oil, bitumen, SCO, and NGLs reserves totaled 12,651 million barrels; proved natural gas reserves totaled 6,460 billion cubic feet, and gross proved plus probable natural gas reserves totaled 9,607 billion cubic feet.
It operates primarily in Western Canada; the United Kingdom portion of the North Sea; and Offshore Africa. The company was formerly known as AEX Minerals Corporation and changed its name to Canadian Natural Resources Limited in December 1975. Canadian Natural Resources Limited was incorporated in 1973 and its headquarter is in Calgary, Canada.
Record on the table as of Feb. 24, 2021.
S.N. | Canadian Natural Resources, LTD. (NYSE: CNQ) | |
1 | Share Value | US$29.14 |
2 | Market Capitalization | US$34.54 billion |
3 | Dividend Yield | 4.53% |
4 | Dividend Date | March 4, 2021 |
5 | Consensus Rating | Buy – 2.83 |
6 | Consensus Price Target | US$36.72 |
7 | Price Target Upside | 26.02% Downside |
8 | 2021 Earnings Per Share Consensus Estimate | US$0.55 |
9 | Short Interest Ratio/Days to Cover | 2.0 |
10. Cameco Corp Stocks
Cameco Corporation produces and sells uranium. The company operates in the Uranium and Fuel Services segments. The Uranium segment is involved in the exploration, mining, and milling, as well as the purchase and sale of uranium concentrate. Its operating uranium property is the Cigar Lake property located in Saskatchewan, Canada.
The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services. This segment also produces fuel bundles and reactor components for CANDU reactors.
The company sells its uranium and fuel services to nuclear utilities in the Americas, Europe, and Asia. Cameco Corporation was incorporated in 1987 and is headquartered in Saskatoon, Canada.
Record on the table as of Feb. 24, 2021.
S.N. | Cameco Corp. (NYSE: CCJ) | |
1 | Share Value | US$16.16 |
2 | Market Capitalization | US$6.41 billion |
3 | Dividend Yield | 0.37% |
4 | Dividend Date | May 7, 2021 |
5 | Consensus Rating | Hold – 2.38 |
6 | Consensus Price Target | US$20.40 |
7 | Price Target Upside | 26.24% Upside |
8 | 2021 Earnings Per Share Consensus Estimate | US$0.05 |
9 | Short Interest Ratio/Days to Cover | 2.0 |
11. Parkland Corporation Stocks
Parkland corporation operates as a marketer, distributor, and refiner of petroleum products. It is one of Canada’s largest and one of North America’s fastest independent marketers of fuel and petroleum products. Parkland serves customers across Canada, the United States, and international markets.
The company operates five (5) segments: Canada Retails (supplies and supports gas stations under the Ultramar, Esso, Fas Gas Plus, Chevron, and Pioneer), Canada Commercial (offers bulk fuel, heating oil, lubricants, and other petroleum products), USA (operates gas stations and delivers other petroleum products under Farstad Oil, Rhinehart Oil, Tropic Oil, Superpumper, and Harts Brands), Supply, and International (operates retail outlets under Esso, Shell, and SOL brands It engages wholesale, supply, and distribution business).
Parkland was formerly known as Parkland Fuel Corporation in May 2020. The company was founded in 1977and it is headquartered in Calgary, Canada.
Record on the table as of Feb. 28, 2021.
S.N. | Parkland (TSE: PKI) | |
1 | Share Value | CA$40.44 |
2 | Market Capitalization | CA$6.05 billion |
3 | Dividend Yield | 3.0% |
4 | Dividend Date | Monthly Dividend Payment |
5 | Consensus Rating | Buy – 3.33 |
6 | Consensus Price Target | CA$47.82 |
7 | Price Target Upside | 18.24% Upside |
8 | 2021 Earnings Per Share Consensus Estimate | CA$2.17 |
12. Goeasy Stocks
Goeasy Ltd is a small-cap Canadian stock that provides non-prime leasing and lending services through its easyhome and easyfinancial divisions. Easyhome segment leases furniture, appliances, electronics, and computers to Canadians.
Easyfinancial segment provides unsecured and real estate secured installment loans, and secured saving loans; loan protection plan; optional home and auto benefit products.
The company was formerly known as easyhome Limited, founded in 1990, but the company changed its name to Goeasy Ltd in September 2015. The headquarter is in Mississauga, Canada.
Record on the table as of Feb. 28, 2021.
S.N. | Goeasy Ltd (TSE: GSY) | |
1 | Share Value | CA$124.09 |
2 | Market Capitalization | CA$1.84 billion |
3 | Dividend Yield | 2.13% |
4 | Dividend Date | Monthly Dividend Payment |
5 | Consensus Rating | Buy – 3.00 |
6 | Consensus Price Target | CA$140.25 |
7 | Price Target Upside | 13.02% Upside |
8 | 2021 Earnings Per Share Consensus Estimate | CA$8.72 |
13. Agnico Eagle Mines Stocks
Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Nothern Business and Southern Business segments.
It primarily produces and sells gold deposits, as well as explores silver, zinc, and copper deposits. The company’s flagship property is the LaRonde mine located in the Abitibi region of northwestern Quebec, Canada.
The company is also involved in exploration activities in Europe, Latin America, and the United States. Agnico Eagle Mines Ltd was founded in 1953 and the headquarter is located in Toronto, Canada.
Record on the table as of Feb. 28, 2021.
S.N. | Agnico Eagle Mines (TSE: AEM) | |
1 | Share Value | CA$71.04 |
2 | Market Capitalization | CA$17.28 billion |
3 | Dividend Yield | 2.40% |
4 | Dividend Date | Quarterly Dividend Payment |
5 | Consensus Rating | Buy – 2.71 |
6 | Consensus Price Target | CA$114.14 |
7 | Price Target Upside | 60.67% Upside |
8 | 2021 Earnings Per Share Consensus Estimate | CA$4.36 |
14. TFI International Stocks
TFI International provides transportation and logistics services in the United States, Canada, and Mexico. The company operates through packages and Courier, Less-Than-Truckload (LTL), Truckload (TL), and Logistics segments.
The company is also involved in medical logistics, warehousing, transportation and storage of food-grade liquids, industrial chemicals, specialty oils and waxes, transportation services for explosives, mining and steel products, and other items.
The company was formerly known as Transforce Inc. and the name was changed to TFI International Inc. in December 2016. TFI International is headquartered in Montreal, Canada.
Record on the table as of Feb. 28, 2021.
S.N. | TFI International (TSE: TFII) | |
1 | Share Value | CA$88.89 |
2 | Market Capitalization | CA$8.30 billion |
3 | Dividend Yield | 1.27% |
4 | Dividend Date | Quarterly Dividend Payment |
5 | Consensus Rating | Buy – 3.00 |
6 | Consensus Price Target | CA$100.23 |
7 | Price Target Upside | 12.76% Upside |
8 | 2021 Earnings Per Share Consensus Estimate | CA$5.56 |
15. Brookfield Renewable Partners
Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities in North America, Colombia, Brazil, Europe, and Internationally. The company operates through Hydroelectric, Wind and Solar, Storage, and Other segments.
The company was formerly known as Brookfield Renewable Energy Partners L.P. and changed its name to Brookfield Renewable Partners L.P. in May 2016. The company was founded in 1999 and is based in Hamilton, Bermuda. Brookfield Renewable Partners L.P. is a subsidiary of Brookfield Renewable Partners Limited.
Record on the table as of Feb. 28, 2021.
S.N. | Brookfield Renewable Partners (TSE: BEP.UN) | |
1 | Share Value | CA$55.95 |
2 | Market Capitalization | CA$14.83 billion |
3 | Dividend Yield | 3.14% |
4 | Dividend Date | Quarterly Dividend Payment |
5 | Consensus Rating | Buy – 2.50 |
6 | Consensus Price Target | CA$56.25 |
7 | Price Target Upside | 4.26% Upside |
8 | 2021 Earnings Per Share Consensus Estimate | Nil |
16. Royal Bank of Canada Stocks
Royal Bank of Canada operates as a diversified financial service company worldwide. The company’s Personal & Commercial Banking segment offers checking and savings account, home equity financing, personal lending, private banking, indirect lending, mutual funds, and other banking trade products and services.
The company also has an insurance segment that offers insurance services to individuals, businesses, and group clients. Royal Bank of Canada has a strategic partnership with the Royal College of Physicians & Surgeons of Canada’s medical specialists. The company was founded in 1864 and is headquartered in Toronto, Canada.
Record on the table as of Feb. 28, 2021.
S.N. | Royal Bank of Canada (TSE: RY) | |
1 | Share Value | CA$108.36 |
2 | Market Capitalization | CA$154.40 billion |
3 | Dividend Yield | 3.91% |
4 | Dividend Date | Quarterly Dividend Payment |
5 | Consensus Rating | Buy – 2.71 |
6 | Consensus Price Target | CA$116.36 |
7 | Price Target Upside | 7.38% Upside |
8 | 2021 Earnings Per Share Consensus Estimate | CA$9.29 |
17. Hexo Corporation Stocks
Hexo Corp. through its subsidiaries produces, markets, and sells Cannabis in Canada. It offers dried cannabis under the Time of Day and H2 lines; Elixir, a cannabis oil sublingual mist product line; and Decarb, an activated fine-milled cannabis powder product.
The company offers adult-use and medical products under the Hexo brand name. It offers cannabis beverages under the Little Victory, House of Terpenes, Mollo, Veryvell, and XMG brand.
Hexo Corp. signed an agreement to acquire Zenabis Global for $235 million in an all-share transaction. The transaction would position HEXO as one of the top three licensed producers in the Canadian recreational market. It also provides HEXO access to the European markets.
The company was formerly known as The Hydropothecary Corporation and it was founded in 2013, the name of the company was changed to Hexo Corp. in August 2018. It is headquartered in Kanata, Canada.
Record on the table as of Feb. 28, 2021.
S.N. | Hexo Corp. (TSE: HEXO)) | |
1 | Share Value | CA$8.85 |
2 | Market Capitalization | CA$1.08 billion |
3 | Dividend Yield | N.A. |
4 | Dividend Date | N.A. |
5 | Consensus Rating | Hold – 2.00 |
6 | Consensus Price Target | CA$1.09 |
7 | Price Target Upside | 87.68% Downside |
8 | 2021 Earnings Per Share Consensus Estimate | N.A. |
18. WELL Health Technologies Stocks
WELL Health Technologies Corp. owns and operates a portfolio of primary healthcare facilities. The company also provides digital electronic medical records (EMR) software services, and telehealth services.
It operates about 20 medical clinics and provides digital EMR software and services to approximately 2,000 medical clinics across Canada. It also develops digital health applications.
The company was incorporated in 2010 as Wellness Lifestyles Inc. but it changed its name to WELL Health Technologies Corp. in July 2018. The headquarter is in Vancouver, Canada.
Record on the table as of Feb. 28, 2021.
S.N. | WELL Health Technologies (TSE: WELL) | |
1 | Share Value | CA$8.88 |
2 | Market Capitalization | CA$1.44 billion |
3 | Dividend Yield | N.A. |
4 | Dividend Date | N.A. |
5 | Consensus Rating | Buy – 2.75 |
6 | Consensus Price Target | CA$11.87 |
7 | Price Target Upside | 33.67% Upside |
8 | 2021 Earnings Per Share Consensus Estimate | CA$0.01 |
19. Real Matters Stocks
Real Matters Inc. provides technology and network management solutions to mortgage lending and insurance industries in Canada and the United States. It offers residential mortgage appraisals for purchase, refinance, and home equity transactions under the Solidifi brand to the mortgage lending industry; and insurance inspection services to property and casualty insurers under the iv3 brand.
The company also provides residential and commercial real estate title and closing services for refinancing, purchase, commercial, short sale, and real estate owned transactions to financial institutions under the Solidifi brand; and offers services required to close a mortgage transaction.
It provides access to its software platforms to other title insurance agencies and mortgage lenders for a subscription fee. The company was formerly known as Solidifi Inc. and changed its name to Real Matters Inc. in July 2010. Real Matters Inc. was founded in 2004 and is headquartered in Markham, Canada.
Record on the table as of Feb. 28, 2021.
S.N. | Real Matters (TSE: REAL) | |
1 | Share Value | CA$16.00 |
2 | Market Capitalization | CA$1.37 billion |
3 | Dividend Yield | N.A. |
4 | Dividend Date | N.A. |
5 | Consensus Rating | Buy – 3.00 |
6 | Consensus Price Target | CA$29.63 |
7 | Price Target Upside | 85.16% Upside |
8 | 2021 Earnings Per Share Consensus Estimate | N.A. |
20. Cineplex Stocks
Cineplex Inc., through its subsidiaries, operates as an entertainment and media company in Canada and internationally. It operates through three segments: Film Entertainment and Content, Media, and Amusement and Leisure.
The Film Entertainment and Content segment operates film theatres; and provides food and in-theatre amusement services, as well as rents theatres and digital commerce. The Media segment provides in-theatre advertising services; and designs installs, and operates digital signage networks, as well as offers advertising on networks.
The Amusement and Leisure segment operates and distributes amusement, gaming, and vending equipment; and operates social entertainment destinations comprising gaming, entertainment, and dining facilities, as well as facilitates tournaments, leagues, and gaming ladders for the competitive gaming community.
The company operates theatres under the Cineplex Odeon, SilverCity, Galaxy Cinemas, Scotiabank Theatres, Cineplex Cinemas, Cineplex VIP Cinemas, Famous Players, and Cinema City brands. It operates about 165 theatres in Canada. Cineplex Inc. was founded in 2003 and is headquartered in Toronto, Canada.
Record on the table as of Feb. 28, 2021.
S.N. | Cineplex (TSE: CGX) | |
1 | Share Value | CA$13.82 |
2 | Market Capitalization | CA$875.26 million |
3 | Dividend Yield | 5.32% |
4 | Dividend Date | N.A. |
5 | Consensus Rating | Hold – 2.00 |
6 | Consensus Price Target | CA$11.93 |
7 | Price Target Upside | 13.69% Downside |
8 | 2021 Earnings Per Share Consensus Estimate | CA$0.06 |
Conclusion
These stocks are not selected or ranked in any particular order or preference, the selection does not assess the viability of the business hence it’s important to have a systematic approach to understanding and buying Canadian stocks which offer the best opportunities. A viable opportunity can be to hold, buy or short these stocks.