The Top Canadian Growth Stocks to Buy With $1,000

These three growth stocks are primed and ready to explode, and yet still provide value attributes for today’s investor.

Amy Legate-Wolfe

Author Bio Amy became interested in investing in 2018 after having her first daughter. After receiving a masters degree in journalism from Western University, she became frustrated that the finance industry remained a confusing place for Canadians like her: new parents, millennials, and other young people who needed to understand their finances. Now, Amy focuses on tech companies and renewable energy for growth opportunities, coupling that with long-term investing strategies and equities. She also provides investors with a daily newsletter, Canada Stock Digest, for daily market updates. Her work can also be found at Canada's National Observer, where she writes on the business side of climate action. Before joining Motley Fool Canada, Amy wrote for major news organizations including HuffPost, CTVNews.ca, and CBC. When she’s not researching investing strategies, Amy’s time is pretty much monopolized by her two wild daughters, but in what little spare time she has she loves to do yoga, go on walks with her dog, and travel with her husband. Social Media Follow Amy on LinkedIn and Canada Stock Digest. Favorite Investment Quote “October: This is one of the particularly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August and February.” – Mark Twain

Published February 18, 2025 8:45 pm EST

Investing a cool grand in the Canadian stock market? Let’s chat about three mid-cap gems that might just make your portfolio sparkle. Those being Tamarack Valley Energy (TSX: TVE), WELL Health Technologies (TSX: WELL), and goeasy (TSX: GSY). These growth stocks have been turning heads with their impressive performances and promising outlooks. So let’s get into why investors may want to consider them on the TSX today.

Rocket lift off through the clouds — Source: Getty Images

Tamarack

Tamarack Valley Energy is making waves in the oil and gas sector. In Q3 2024, the growth stock reported an average daily production of 64,143 barrels of oil equivalent per day (boe/d), a 3% increase from the previous quarter. This uptick was driven by strong performances from the Charlie Lake and Clearwater drilling programs. Financially, Tamarack achieved adjusted funds flow of approximately $220 million and free funds flow of $109 million, thus marking a 72% increase in free funds flow per share year-over-year. It also reduced net debt to just over $807 million.

Looking ahead, Tamarack is well-positioned to benefit from its strategic focus on high-quality assets and disciplined capital allocation. The growth stock’s commitment to shareholder returns is evident through its recent 2% increase in monthly dividends and ongoing share repurchase program. With a diversified portfolio and efficient operations, Tamarack aims to continue delivering value to its investors.

WELL Health

WELL Health is a digital healthcare powerhouse that’s been on a tear lately. In Q3 2024, the growth stock surpassed a $1 billion annualized revenue run-rate, reporting record revenue of $251.7 million – a 27% increase compared to the same period in 2023. This growth was primarily driven by a 23% organic increase, thus highlighting the company’s expanding footprint in the digital health space.

The future looks bright for WELL Health, as it continues to capitalize on the growing demand for digital healthcare solutions. With a robust pipeline of acquisitions and a strong network of over 4,000 providers and clinicians, the growth stock is well-equipped to maintain its upward trajectory. Its recent increase in annual revenue guidance further underscores their confidence in sustained growth.

goeasy

Finally, goeasy has established itself as a leader in the alternative financial services sector. The growth stock has demonstrated consistent revenue and earnings growth, driven by strong loan demand and an expanding customer base. In recent quarters, goeasy has continued to deliver solid financial results, reflecting its effective business model and strategic initiatives.

Looking forward, goeasy is poised for continued success, with plans to further expand its product offerings and geographic reach. The growth stock’s focus on responsible lending practices and customer satisfaction positions it well to navigate the evolving financial services landscape. Investors can anticipate sustained growth as goeasy continues to execute on its strategic priorities.

Bottom line

In summary, with $1,000 to invest, these three Canadian mid-cap stocks offer a compelling mix of stability and growth potential. Tamarack Valley Energy provides exposure to the energy sector with a focus on shareholder returns, WELL Health taps into the burgeoning digital healthcare market, and goeasy offers a stake in the expanding alternative financial services industry. Diversifying across these sectors can help mitigate risk while positioning your portfolio for long-term growth.