Future Winners: 3 TSX Stocks That Could Make You Rich

Looking for future winners? Consider investing in these three TSX stocks.

| More on:
Hands holding trophy cup on sky background

Image source: Getty Images

Investors don’t need to invest in a lot of stocks to get rich. Instead, concentrating on a few fundamentally strong future winners should do pretty well for you. Here are such three TSX stocks that have the potential to generate stellar returns in the long run. 

Maple Leaf Foods 

Maple Leaf Foods (TSX:MFI) stock is set to soar high in the long term, thanks to its ability to capitalize on the high-growth avenues. The company’s investments in the fast-growing and in-demand plant-protein business present massive growth opportunities. Maple Leaf Foods has positioned itself as a leading player in the plant-protein category, and it expects to generate $3 billion in sales by 2029 from its plant-protein business.

Investors should note that Maple Leaf Foods’s plant-protein business is growing at a breakneck pace. Moreover, its pace of growth could accelerate further due to the favourable industry trend led by rising demand. Also, product innovation and distribution gains should continue to drive strong double-digit growth in its plant-protein segment.

Besides, Maple Leaf Foods also benefits from continued momentum in its meat protein business. The segment’s growing exports to the high-margin geographies should continue to support sales and margins.

Maple Leaf Foods’s strong fundamentals and enormous growth opportunities should continue to push its stock higher.


AltaGas (TSX:ALA) is another stock that has high growth potential. I am highly optimistic about its midstream business. The company’s Ridley Island Propane Export Terminal (RIPET) came into service last year and is already contributing significantly to its growth.

RIPET adds significant value and has opened up enormous growth opportunities for AltaGas. RIPET’s volumes are expected to surge by a considerable amount in the coming years. Besides, the utilization rate should remain high, given its access to high-growth markets. While its midstream could accelerate its growth, AltaGas’s utility business provides stability with predictable cash flows and consistent rate base growth. 

AltaGas stock also looks attractive from the valuation perspective. AltaGas trades at the next 12-month price-to-cash flow ratio of 4.9, which is significantly lower than the industry average of 7.3. The stock is down about 20% so far this year, which presents an excellent opportunity to go long.

Jamieson Wellness

Jamieson Wellness (TSX:JWEL) is one of my favourite long-term stock picks, as the company continues to deliver consistent growth and has ample room for growth. The company manufactures vitamins, minerals, and health supplements that are witnessing increased consumer demand.

Jamieson’s product innovation and strong brand affinity continue to drive its sales. Besides, favourable industry trends, like a focus on healthy living and an ageing population, further act as a catalyst. 

The consistent demand for Jamieson’s products should continue to support its top and bottom line. Meanwhile, its expansion into China and the U.S. provides substantial growth opportunities. Jamieson’s international business has been performing exceptionally well with strong double-digit growth. The rapid growth of its distribution network and product demand continues to support its international sales. 

With the expansion of its distribution to newer geographies, launch on Amazon, and approval for its 21 products in mainland China, Jamieson remains well positioned to boost investors’ returns further.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Fool contributor Sneha Nahata has no position in any of the stocks mentioned. David Gardner owns shares of Amazon. The Motley Fool owns shares of and recommends Amazon. The Motley Fool recommends ALTAGAS LTD and recommends the following options: short January 2022 $1940 calls on Amazon and long January 2022 $1920 calls on Amazon.

More on Investing

Target. Stand out from the crowd

2 Canadian Stocks I’m Buying Lots of This Year

I’m looking to snatch up exciting Canadian stocks like VieMed Healthcare Inc. (TSX:VMD) throughout 2023.

Read more »

grow money, wealth build
Dividend Stocks

Got $3,000? 3 TSX Growth Stocks to Buy in January 2023

Top TSX growth stocks that look appealing for 2023.

Read more »

woman data analyze
Dividend Stocks

Need Passive Income? Turn $15,000 Into $851 Annually

This passive-income stock is already climbing higher, up 16% in the last three months! Yet it's still valuable, so you…

Read more »

Senior Man Sitting On Sofa At Home With Pet Labrador Dog
Dividend Stocks

Retirees: 3 Reliable Canadian Dividend Stocks to Buy Now for Passive Income

Top TSX dividend stocks now appear oversold.

Read more »

A red umbrella stands higher than a crowd of black umbrellas.

2 TSX Stocks Safer for Investing in a Recession

These consumer companies will likely beat the broader market averages amid a recession. These stocks offer stability, income, and consistent…

Read more »

Dividend Stocks

For $100 in Passive Income Each Month, Buy 1,500 Shares of This REIT

REITs such as Northwest Healthcare can enable investors create a passive-income stream as well as benefit from capital gains.

Read more »

A colourful firework display
Dividend Stocks

2 Canadian Growth Stocks (With Dividends) to Start 2023 With a Bang

Here are two of the best dividend-paying Canadian growth stocks you can invest in at the start of 2023 and…

Read more »

sale discount best price
Dividend Stocks

4 Insanely Cheap Canadian Stocks to Buy for Passive Income

The recent bear market has created some incredible bargains, especially for those looking for passive income. Here are four cheap…

Read more »