Investing in the Canadian stock market is a great way to build wealth over the long term. With so many options to choose from, it can be overwhelming to decide which stocks to buy. In this article, we’ll take a look at some of the best stocks to buy in Canada.
- Shopify (SHOP.TO) Shopify is a Canadian e-commerce company that provides a platform for businesses to create online stores. Its stock has been on a steady rise, making it a popular choice among investors. With the rise of e-commerce, Shopify is well-positioned to continue to grow in the coming years.
- Brookfield Renewable Partners (BEP.UN.TO) Brookfield Renewable Partners is a renewable energy company that owns and operates a portfolio of hydroelectric, wind, and solar power facilities. As the world moves towards cleaner energy sources, Brookfield is well-positioned to benefit from this trend.
- Enbridge (ENB.TO) Enbridge is a leading North American energy infrastructure company, with a focus on transporting and distributing oil and natural gas. The company has a strong track record of dividend growth and has a diversified portfolio of assets that provide a stable source of cash flow.
- Canadian National Railway (CNR.TO) Canadian National Railway is the largest railway in Canada, with a network that spans across North America. The company has a strong competitive advantage, as it is the only railroad that has access to three coasts: the Pacific, the Atlantic, and the Gulf of Mexico.
- Royal Bank of Canada (RY.TO) Royal Bank of Canada is one of the largest banks in Canada, with a diverse range of businesses including personal and commercial banking, wealth management, and capital markets. The bank has a strong track record of financial performance, and its stock is a popular choice among income investors due to its consistent dividend payments.
In conclusion, these five stocks are among the best options for investors looking to build a long-term portfolio. It’s important to do your own research and consider your personal investment goals before making any investment decisions.