These Are My Top 3 TSX Stocks to Buy Right Away

Find out why these 3 standout stocks are making waves with their recent earnings, past performance, and future prospects.

| More on:
up arrow on wooden blocks

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

Investing in the stock market can feel like navigating a labyrinth, but fear not! Let’s shed some light on three standout TSX stocks today – getting into why these companies have been making waves with their recent earnings, past performance, and future prospects.

Created with Highcharts 11.4.3Cameco + Teck Resources + Dollarama PriceZoom1M3M6MYTD1Y5Y10YALLwww.fool.ca

Cameco

Cameco (TSX:CCO) is a powerhouse in the uranium production space, thereby making it a top pick for those looking to ride the clean energy wave. As the world continues to shift towards renewable and low-carbon energy sources, nuclear power is regaining its prominence. Cameco is positioned right at the heart of this transition.

In a recent quarter, Cameco’s revenue surged by 25.3% year-over-year, reaching $2.8 billion. This strong revenue growth underscores the increasing global demand for uranium. Although the TSX stock’s quarterly earnings saw a decline of 95%, this can largely be attributed to timing issues in contracts – something management expects to stabilize moving forward.

Cameco holds a healthy cash position of $197 million and a manageable debt-to-equity ratio of 23.1%, thus giving it the resources to support its growth ambitions. The uranium producer’s long-term prospects are bolstered by expanding nuclear energy programs worldwide, especially in regions like Asia and Europe, which are doubling down on clean energy initiatives.

Dollarama

Dollarama (TSX:DOL), Canada’s premier dollar store chain, has cemented itself as a resilient player in the retail sector. Despite economic uncertainty, Dollarama continues to thrive by catering to cost-conscious consumers.

As to earnings, earnings per share rose by 6.5% to $0.98, aligning with analysts’ expectations. With profit margins at a stellar 17.9% and a return on equity of a whopping 156.5%, Dollarama proved itself a master of operational efficiency. Its ability to keep costs low while maintaining a diverse product offering has allowed it to capture a loyal customer base. The TSX stock’s forward price-to-earnings ratio of 27.1 suggests confidence in its continued growth. Looking ahead, Dollarama’s expansion plans, which include opening more stores and potentially venturing into online retail, make it an attractive long-term investment.

Teck

Teck Resources (TSX:TECK.B) is another TSX stock heavyweight making headlines, particularly for its strategic focus on energy transition metals like copper. In the third quarter of 2024, Teck delivered an adjusted earnings before interest, taxes, depreciation and amortization (EBTIDA) of $986 million, driven by record copper production at its Quebrada Blanca mine in Chile.

This robust performance highlights Teck’s pivotal role in the global transition to renewable energy and electrification, where copper plays a critical role. The TSX stock also returned over $1.3 billion to shareholders in 2024, underscoring its commitment to shareholder value. With a forward price-to-earnings ratio of 25.9, Teck is positioned as a growth-oriented stock. Its balance sheet is solid, with a current ratio of 2.9 and a cash position of $7.2 billion, providing ample flexibility for future investments.

Foolish takeaway

What ties these TSX stocks together is the ability to not only weather economic changes but thrive amid them. Cameco is capitalizing on the clean energy revolution, Dollarama is a safe haven for value-conscious shoppers, and Teck is aligning itself with the world’s energy transition needs. Recent earnings show robust financial health. And forward-looking strategies indicate they are far from hitting their peak.

For TSX investors, these three TSX stocks represent a diverse mix of industries. Each with a compelling case for growth. With Cameco’s leadership in uranium, Dollarama’s retail dominance, and Teck’s copper expansion, these TSX stock provide a balanced portfolio foundation. One that can weather market volatility while capitalizing on long-term global trends.

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

Before you buy stock in Fortis, 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 Fortis 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 Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool recommends Cameco. 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 Investing

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 »

grow money, wealth build
Dividend Stocks

Why I’d Invest $10,000 in This Undervalued Dividend-Growth Stock for Decades of Income

This undervalued dividend stock offers a high yield of over 8% and can help you earn more than $200 in…

Read more »

Start line on the highway
Tech Stocks

Where I’d Invest $5,000 in Growth Stocks With Long-Term Potential Through 2030

DO you have $5,000 to invest to grow your wealth over the long term? These growth stocks could deliver strong…

Read more »

Asset Management
Investing

2 Canadian Value Stocks I’d Buy Now and Hold for a Lifetime

Here are two cheap Canadian stocks investors can buy and hold for outsized gains in 2025 and beyond.

Read more »

tsx today
Stock Market

TSX Today: Why Canadian Stocks Could Fall on Thursday, April 3

TSX stocks may come under pressure today as sharp commodity declines and Trump’s sweeping new tariffs spark fresh concerns over…

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 »

RRSP Canadian Registered Retirement Savings Plan concept
Retirement

Here’s the Average Canadian TFSA and RRSP at Age 60

Many Canadian retirees have tens of thousands invested in ETFs like the iShares S&P/TSX 60 Index Fund (TSX:XIU).

Read more »

TFSA (Tax-Free Savings Account) on wooden blocks and Canadian one hundred dollar bills.
Dividend Stocks

Here’s Exactly How a $20,000 TFSA Could Potentially Grow to $200,000

Index funds like the iShares S&P/TSX Capped Composite Index (TSX:XIC) are tax free in a TFSA.

Read more »