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10 Best Canadian Stocks to Buy This Year

Then again, who doesn’t? Making money in the stock market is difficult, but it is not impossible. Anyone, whether a novice or an experienced investor, can profit from it if they play their cards correctly.

Did you know that the global stock exchange is expected to be worth approximately US$95 trillion in 2021?

This is why we’ll be taking a closer look at the best Canadian stocks to buy right now in Canada and providing you with all of the pertinent information. So, without further ado, let us begin.

Here’s a list of the Best Canadian Stocks to buy:

The good news is that the Toronto Stock Exchange (TSX) is one of the world’s best Canadian stocks -performing in the stock exchanges. This is especially useful for potential investors looking to profit from certain stocks.

Naturally, there are a few race leaders who have managed to separate themselves from the pack. So, here’s a quick rundown of the best Canadian stocks right now.

  • SHOPify 

  • Established in 2006
  • Gross revenue in 2021: $4.6 billion

Look no further than Shopify if you want to start and grow your business. This subscription-based service allows you to create an online store and sell any type of product. Depending on the price, each subscription plan provides different benefits and extra perks.

People have started buying most of their goods online since on-again, off-again lockdowns have put a halt to regular shopping sprees. And, given that Shopify is essentially one big store where you can find almost anything you need, it’s no surprise that this is one of the best Canadian stocks to buy right now.

Since November 2018, the total value of Shopify stocks has increased slowly but steadily. It hit an all-time high of $1.762 in November 2021. One of the best Canadian stocks to buy is Shopify’s stock recently fell slightly, reaching $1.217 in January 2022.

  • A.T. Transat Inc.

  • Established in 1987
  • Gross revenue in 2021: $124.8 million

Given that this is Canada’s leading leisure airline, investors should look into it as it is definitely one of the best Canadian stocks to buy. Despite suffering a significant drop in stock value as a result of the pandemic’s numerous international travel restrictions and guidelines, Transat has managed to hold its own against its competitors.

Since the global lockdown in mid-March of 2020, the average stock value has plummeted from $16.18 to $4.58 in February 2022. While these figures aren’t exactly encouraging, they do have a lot of potentials. Indeed, they are among the most promising Canadian growth stocks, as people gradually but steadily resume their regular travel habits.

With the upcoming summer season and the consistent growth of consumer demand, investors have high hopes for their transnational stocks. Furthermore, why not get started right away?

  • Canadian Royal Bank

  • Established in 1864
  • Gross revenue in 2021: $49.7 billion

The Royal Bank of Canada is a multinational corporation with operations in over 40 countries. It is a financial planning firm that specializes in personal and commercial financial planning, wealth management, insurance, and market capitalization. The stocks of this bank is definitely one the best Canadian stock to buy at the moment.

When all of this is considered, RBC certainly deserves a place among the best Canadian stocks to buy in the current market. Despite the economic downturn in March 2020, the bank’s overall revenue and earnings have increased steadily. Stock value has also increased significantly, rising from $54.4 at the time to an impressive $108.2 in February 2022.

These statistics provide useful information about how the bank performs during times of crisis. RBC has been able to keep its stock relatively stable due to strict regulations that mitigate the risks associated with lower interest rates and financial downturns. Given the long-term prospects of such arrangements, it is without a doubt one of the best Canadian stocks to buy and the companies to invest in.

  1.  Bell Canada Enterprises.

  • Founded: 1880
  • Gross revenue in 2021: $625 million

This is Canada’s largest telecommunications company and its stock is one of the best Canadian stocks to buy right now, offering television, phone, and internet services to every home in the country. In general, it is best for Canadian stocks to invest in companies that provide essential services because they will always be in demand, regardless of the circumstances.

Given the hybrid or work-from-home arrangements that most people have recently adopted, it’s unlikely that these stocks will fall any time soon. If you want to get specific, the intrinsic market value of BCE’s stocks has increased significantly as of 2021, only to reach $71.15 in February 2022.

  • System Descartes Group

  • Born in 1981
  • Gross sales for 2021: $349 million

This multinational company serves over 20.000 clients globally with supply chain productivity and cloud-based logistics software. In plain English, it’s a tech company that helps businesses expand their network reach by assisting manufacturers in delivering their products to store shelves or your front door.

It’s no secret that modern supply chains and commerce are accelerating at an unprecedented rate to meet consumer demand. Descartes provides a practical means of appeasing customers as well as adapting to rapidly shifting regulatory and market conditions.

Descartes stocks haven’t seen any notable gains or losses in terms of numbers, just a small shift in their overall value. At $71.4, the current price puts it on the list of Canadian stocks to keep an eye on in the upcoming years.

  • American Lithium Corp.

  • Created in 2007
  • Gross sales for 2021: $349 million

Lithium One of the leading low-cost suppliers of lithium batteries for electric vehicles is Americas Corp. The majority of its products are produced by two of its large ongoing projects, which are both located in Argentina and the United States. The business recently announced plans to grow by adding three more production sites, though the precise location is still unknown.

Since October 2020, the average stock value has been rising steadily, reaching a high of $52.2 in November 2021. The median price did experience a slight decline in the months that followed, reaching a low of $32.7 in February 2022.

In any case, Lithium Americas Corp is still relevant and continues to offer some of the best Canadian stocks to buy at the moment. Investors shouldn’t be concerned about its stock value declining significantly in the near future if you take into account its upcoming expansion and future development plans.

  • Shaw Communications: SJR.B

  • Built: 1966
  • Gross sales of $5.5 billion in 2021

Another market-leading provider of TV, phone, and internet connectivity is Shaw Communications. In a time when staying in touch with others is more crucial than ever, Shaw Communications offers dependable and secure connections to meet the needs of both small and large businesses.

Without a doubt, technology is a vital part of our daily lives, both for leisure and work-related activities. Shaw Communications is one of the best Canadian stocks to buy right now because of the demand for such services, which is unlikely to decline in the future.

This is supported by official data, which shows that the inherent stock price has fluctuated at a low level ever since skyrocketing in March 2021. The median stock price was $30.2 in February 2022. In the upcoming years, investors can anticipate that these stable rates will persist.

  • Bank of Montreal: BMO

  • Built: 1817
  • Gross sales of $5.5 billion in 2021

The Bank of Montreal is undoubtedly one of the best Canadian stocks to buy and the banks to invest in right now, thanks to its long history and steady clientele. Over the years, it has consistently maintained its momentum and cemented its position in line with that of its rivals. Private and business insurance, credit cards, mortgages, and loans are its main areas of emphasis.

According to statistics, the average stock price has steadily increased since May 2020, reaching an astounding $118.2 in February 2022, despite the economic downturn brought on by the COVID-19 pandemic. It appears unlikely that there will be unpleasant surprises at this point because there haven’t been any significant value declines during what is arguably the worst financial crisis in history.

BMO has also put in place a strategic contingency plan to reduce risks. Because of this, they are ultimately in a very advantageous position to handle potential future losses and disputes, leading to some of the best Canadian stocks to buy.

  • Canadian Power Corporation

  • Built: 1925
  • Gross sales forecast for 2021: $54.3 billion

This esteemed management and the holding company operates in North America, Europe, and Asia and offers financial services. One of the biggest independent businesses, it focuses on platforms for alternative investments as well as businesses related to insurance, retirement, wealth management, and investments.

An in-depth analysis reveals that the median stock value has been increasing since October 2020. These figures come to a respectable $33.3 as of February 2022.

This company stands out for a number of reasons, including both its overall performance and its capacity to produce asset growth in the midst of a global financial crisis. The current situation places it among the best Canadian stocks to buy and businesses to invest in.

  • Parkland Fuels: PKI

  • Created in 1977
  • Gross sales for 2021: $23.1 billion

One of the quickest suppliers of petroleum products in both Canada and the US is this independent fuel retailer and operator of convenience stores. The majority of its expansion has come through acquisitions, including the most recent purchase of Chevron’s downstream fuel subsidiary in Canada, making it the country’s sole distributor of these fuels.

One of Parkland Fuels’ biggest advantages is its extensive distribution network, which supplies a variety of markets across North America. Sure, the pandemic caused a few setbacks, but the business has shown its resilience and capacity to recover, placing it among the best Canadian stocks to buy right now.

Since January 2021, the overall stock price has fluctuated only slightly, hovering around $32.2. In the upcoming years, this trend is probably going to persist.

 

Conclusion

So there you have it: ten of the best Canadian stocks to buy at the moment. Each one carries a certain amount of risk it, but it also has great potential for growth and profit. In any case, it’s wise to conduct your own research before investing  and speak with a financial advisor to ensure that you’re making the best decisions for your specific circumstances and also choosing the best Canadian stocks to buy 

David Scott
David Scott
Digital Marketing Specialist .
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