The Best Canadian Stocks to Buy Right Away With $30,000

When it comes to choosing the right Canadian stocks, these three are no-brainer buys for any portfolio.

Amy Legate-Wolfe

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. Before joining Motley Fool Canada, she 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. 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 March 3, 2025 8:15 pm EST

So, you’ve got $30,000 burning a hole in your pocket and you’re eyeing the Canadian stock market? Well, today let’s chat about three mid-cap gems that might just make your investment journey a tad more exciting. Those top Canadian stocks being Cargojet (TSX:CJT), Exchange Income (TSX:EIF), and goeasy (TSX:GSY).

Canadian dollars in a magnifying glass — Source: Getty Images

Cargojet

Cargojet is Canada’s leading provider of time-sensitive overnight air cargo services. This company ensures your packages arrive on time, even if that means braving a snowstorm or two.

In its latest earnings report, Cargojet delivered some impressive numbers. The Canadian stock reported revenues of $293.2 million for Q4 2024, surpassing analyst expectations of $273 million. Even more striking were earnings per share (EPS) of $4.41, significantly higher than the anticipated $1.61. This robust performance highlights Cargojet’s resilience and operational efficiency in the competitive air cargo industry.

Looking ahead, Cargojet seems well-positioned to capitalize on the growing e-commerce sector. With online shopping showing no signs of slowing down, the demand for reliable air cargo services is set to rise. Plus, with a forward dividend of $1.40 yielding 1.4%, investors can enjoy a bit of income while watching their investment potentially take flight.

Exchange Income

Next up is Exchange Income, a diversified acquisition-oriented company focused on sectors like aviation and manufacturing. If you’re into a mix of steady industries, EIF might just be your cup of tea.

EIF has historically maintained a strong financial footing. The Canadian stock’s diversified portfolio often acts as a buffer against sector-specific downturns, providing stability to investors. And again, working within a stable sector, often backed by government contracts, EIF stock certainly doesn’t show any signs of slowing.

With a forward annual dividend rate of $2.64, yielding a solid 5.2%, EIF offers investors a steady income stream. This makes it particularly appealing for those seeking both growth and income in their portfolios.

goeasy

Lastly, let’s talk about goeasy, a Canadian stock that provides non-prime leasing and lending services. Essentially, the company offers financial products to consumers who might not qualify for traditional bank loans — a niche market with substantial growth potential.

The Canadian stock recently reported record results for the fourth quarter and full year of 2024. Its loan portfolio grew by 26% to $4.6 billion, up from $3.7 billion. Quarterly revenue also saw a 20% increase, reaching $405 million compared to $338 million in the previous year.

The Canadian stock’s forward dividend stands at $5.84, yielding 3.6%. With a one-year target estimate of $239.89, analysts seem optimistic about goeasy’s growth trajectory, especially now with a new CEO on board. These dynamics make now an excellent time to buy.

Bottom line

Investing in these three Canadian stocks could provide a balanced mix of growth potential and income. Cargojet offers exposure to the booming e-commerce and logistics sector. Exchange Income provides diversification across stable industries. Finally, goeasy taps into the non-prime lending market, which has been underserved by traditional banks.

Before making any investment decisions, it’s crucial to conduct thorough research and consider consulting with a financial advisor. The stock market has its ups and downs, but with informed choices, your $30,000 could be well on its way to working for you.