Canadians seeking out favourite stocks should have a few things in common. They should be essential, growing, and valuable. And that can be hard to find amongst all the craziness of the markets these days.
That being said, there are still many strong winners out there. Zoom out, and you’ll see some that have done well even with this weak market. That is why today, I’m going to discuss my top five favourites that you can count on.
Constellation and Topicus
There’s a reason that I put these two together. And that’s because they’re basically the same thing in different places. Constellation Software (TSX: CSU) has seen its shares rise absurdly over the last few decades. With Chief Executive Officer (CEO) Mark Leonard at the helm, the company has continued to make acquisitions over the years, cornering different areas of the software market.
And now, Topicus (TSXV: TOI) is doing the same. The company is simply a spinoff of Constellation stock but in Europe. Now, investors can get the same company as Constellation stock but for a fraction of the price. But Constellation stock is still a strong stock to consider, with proven value already sewn right in.
Fairfax
Speaking of expensive-but-worth-it stocks, another to consider is Fairfax Financial Holdings (TSX: FFH). FFH stock has proven its worth through two parts. First there is through its property and casualty insurance company. The company’s underwriting practices have, therefore, put it at the top even during these fluctuating times.
Yet, during periods of growth, FFH stock has been a clear winner. The company’s CEO, Prem Watsa, has long been touted as the Warren Buffett of Canada. This is because of his value approach to investing. And that investing strategy has given investors quite a handful over the last decade or so.
Dollarama
Another company that has proven to do well during times to good or bad, is Dollarama (TSX: DOL). Dollarama stock has now surpassed the $100 mark and isn’t likely to look back. This comes from a stable strategy of growth through same-store sales and low-cost retail of essentials.
So, now, Dollarama stock has seen growth from Canadians trying to find lower prices during inflation. Yet when things are good once more, and Canadians have more money, they’ll be able to put that cash into less-essential goods. And Dollarama stock will continue climbing.
Lundin Mining
Finally, Lundin Mining (TSX: LUN) is another stock I’ve loved recently. This is because the stock has been climbing higher in the last year as copper demand continues to rise. This comes from a few reasons. There is lower production of copper around the world, and the need is only growing with every item from plumbing to power needing the product.
Lundin stock is one of the largest producers, with 60% of its production dedicated to copper. And during its recent guidance the company stated this is only set to climb higher in the year to come. This is why it’s yet another of my favourite stocks to buy now and watch grow for some time to come.
