Top Canadian Stocks to Buy Right Now With $2,000

These top Canadian stocks could not only help you make the most of your $2,000 investment but also provide a strong base for long-term wealth creation.

| More on:
grow money, wealth build

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s premium investing services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Many favourable factors, including easing inflation and declining interest rates, fueled a strong rally in Canadian stocks in 2024. As we head into 2025, this strong momentum has created plenty of opportunities for investors to benefit from the bullish market sentiment.

Whether you’re seeking growth, stable income, or a mix of both, the Toronto Stock Exchange offers a wide range of high-quality stocks to choose from. With $2,000 to invest, now could be a great time to choose the right stock with strong fundamentals to help you maximize your returns. In this article, I’ll highlight two such attractive Canadian stocks you can buy right now with $2,000 and hold for years to come.

MDA stock

After rallying by roughly 150% in 2024, MDA Space (TSX:MDA) stock currently trades at $29 per share with a market cap of around $3.5 billion. If you don’t know it already, this Toronto-based global space technology company mainly generates its revenue by providing satellite imagery, building robotic systems, and designing advanced satellites and components.

The ongoing strength in MDA’s financial growth trends further strengthens its investment appeal for growth investors. In the third quarter of 2024, the company’s total revenue rose 38% YoY (year over year) to $282.4 million, with its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) climbing by nearly 30% to $55.5 million. This top line and profitability growth was mainly driven by the company’s advancements across its core business segments, especially in its Satellite Systems and Robotics & Space Operations.

In the latest quarter, MDA’s Satellite Systems division saw a remarkable 77.5% YoY jump in revenue, supported by new programs. Similarly, its Robotics segment achieved strong growth with progress on the Canadarm3 program, which is considered a flagship project for the company. Moreover, MDA’s solid backlog of $4.6 billion, which climbed by 49% YoY last quarter, gives clear revenue visibility and highlights its ability to secure significant long-term contracts.

Created with Highcharts 11.4.3Mda Space + Toronto-Dominion Bank PriceZoom1M3M6MYTD1Y5Y10YALLwww.fool.ca

TD Bank stock

Unlike a growth stock like MDA Space, Toronto-Dominion Bank (TSX:TD) is a stable large-cap stock that you can buy now with $2,000 and hold for the next decade to generate regular income. After slipping by over 10% in 2024, TD stock currently trades at $75.27 per share with a market cap of about $131 billion. At this market price, it offers an impressive 5.6% annualized dividend yield.

The recent decline in TD Bank stock could mainly be attributed to the heavy penalty it had to pay to settle issues surrounding anti-money laundering compliance in the United States. However, the Canadian lender has recently taken many steps to address these issues by improving oversight, investing in its compliance infrastructure, and implementing robust anti-money laundering protocols.

Despite this temporary setback, the long-term growth outlook for TD’s core operations remains strong as its Canadian personal and commercial banking segment continues to deliver solid results, with record revenues in the latest quarter, fueled by loan and deposit growth and margin expansion.

In addition to its strong balance sheet, TD Bank’s diversified revenue streams and focus on expanding its digital services have brightened its growth outlook, making it an attractive long-term buy on the dip, in my opinion.

Should you invest $1,000 in Mda right now?

Before you buy stock in Mda, consider this:

The Motley Fool Stock Advisor Canada analyst team just identified what they believe are the Top Stocks for 2025 and Beyond for investors to buy now… and Mda wasn’t one of them. The Top Stocks that made the cut could potentially produce monster returns in the coming years.

Consider MercadoLibre, which we first recommended on January 8, 2014 ... if you invested $1,000 in the “eBay of Latin America” at the time of our recommendation, you’d have $20,697.16!*

Stock Advisor Canada provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month – one from Canada and one from the U.S. The Stock Advisor Canada service has outperformed the return of S&P/TSX Composite Index by 29 percentage points since 2013*.

See the Top Stocks * Returns as of 3/20/25

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 Jitendra Parashar has positions in Mda Space and Toronto-Dominion Bank. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Confidently Navigate Market Volatility: Claim Your Free Report!

Feeling uneasy about the ups and downs of the stock market lately? You’re not alone. At The Motley Fool Canada, we get it — and we’re here to help. We’ve crafted an essential guide designed to help you through these uncertain times: "5-Step Checklist: How to Prepare Your Portfolio for Volatility."

Don't miss out on this opportunity for peace of mind. Just click below to learn how to receive your complimentary report today!

Get Our Free Report Today

More on Stocks for Beginners

dividends grow over time
Stocks for Beginners

The Top Canadian Stocks to Buy Right Away With $4,000

If you only have $4,000 to invest, then these Canadian stocks are some of the best options out there.

Read more »

A shopper makes purchases from an online store.
Tech Stocks

Buy the Dip on the Return of Recession Stocks?

If a recession comes back, there are some stocks that could fair well afterwards. And this is one of the…

Read more »

Man holds Canadian dollars in differing amounts
Stocks for Beginners

Cash Is King? Think Again During Today’s Market Dip

Sure, cash is great, but during a market dip investors may want to consider using some of the cash to…

Read more »

grow money, wealth build
Stocks for Beginners

How I’d Build a $15,000 Portfolio for Income and Growth With Canadian Value Stocks

Looking for some Canadian value stocks to buy without breaking the bank? Here's a trio to consider buying this month.

Read more »

rain rolls off a protective umbrella in a rainstorm
Dividend Stocks

Economic Headwinds: Should You Still Consider Buying the Dip?

A market dip might seem like a bumpy road, but it can be far smoother in the future with the…

Read more »

calculate and analyze stock
Stocks for Beginners

Stagflation Survivors: An Investment Strategy for Today’s Market Dip

During the market dip, there are ways to keep yourself safe and settled. So, let's get into them.

Read more »

dividends can compound over time
Stocks for Beginners

Inflation Fighters and the Opportunity to Buy the Dip

Inflation continues to be a struggle, but there are ways to battle during this market dip.

Read more »

trends graph charts data over time
Stocks for Beginners

Recession Stocks Are Back: Time to Buy the Dip This April?

During a recession, it's the best idea to go with stocks that have long-term opportunity ahead -- like these two.

Read more »