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The 3 Best Canadian Stocks I’d Buy With $300 Right Now

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Investors seeking long-term wealth need to stop thinking short-term. To look at the market today, you may miss out on the best Canadian stocks. That’s because the market continues to trade at all-time highs. But guess what: that’s a good thing! As the market continues to trade upwards, shares in these stocks should too. And it’s not like you need to invest thousands to make returns. With just $300 you can build a solid nest egg by investing in the best Canadian stocks on the market today.

WELL Health

Motley Fool Canada investors have been interested in WELL Health Technologies (TSX:WELL) for a while now, and it’s clear why. The company remains one of the best Canadian stocks to buy because of its long-term potential. That’s even as shares have shrunk amid fears that the end of the pandemic would lead to an end in returns.

Not so.

WELL stock recently reported record-setting revenue of 150% growth year over year. It continues to expand by buying up other virtual telehealth companies. It’s now the country’s largest outpatient medical clinic, with an enormous footprint in the United States.

What’s more, it provides a cheap, fast, and safe alternative to in-office visits. So no wonder it’s doing so well.

Shares are up 195% in the last year alone, and 14.5% in the last month. Yet analysts expect that trend to continue, making it one of the best Canadian stocks you can buy and pretty much forget about the long term.

goeasy

Another company that simply isn’t going anywhere is goeasy (TSX:GSY). The company is one of the best ways to build wealth among the best Canadian stocks. It’s a stellar financial performer, with a strong future outlook that’s already led to multi-bagger growth. The company grew 2,400% in a decade, and 179% in the last year alone!

Yet it’s still an attractive stock for those thinking long term. Motley Fool Canada investors should look to the lender as it continues to improve its macroeconomic outlook. This continues to be driven by an increase in loans, and customer demand. It continues to make strategic acquisitions and provides new products that lead to top-line growth.

And goeasy also leaves to share growth to boot. And it continues to deliver double-digit earnings growth throughout the almost two decades it’s been on the market. This should likely continue for the foreseeable future, making it one of the best Canadian stocks to consider today.

TD stock

Finally, if you want safety and stability you definitely want the Big Six Banks. But above them, I’d put Toronto-Dominion Bank (TSX:TD)(NYSE:TD). The bank is second of the largest banks by market capitalization, but it could take first place as the company continues to grow in strategic areas.

TD stock has bought up credit cards, invested in its United States presence, and online presence to boot. TD stock has been delivering solid returns to investors for decades, but even during the downturn increased its dividend as well. But it’s one of the best Canadian stocks for Motley Fool Canada investors because it’s stable.

Even though it trades at all-time highs, it continues to trade at a price-to-earnings ratio of just 11.21. It also offers a dividend yield of 3.16, with analysts predicting a 12-month potential upside of 8%.

As investors continue searching for deals, this one could pass you by. So definitely buy up this solid stock while it’s still considered cheap.

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.

Fool contributor Amy Legate-Wolfe owns shares of Toronto-Dominion Bank and WELL Health Technologies.

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