5 Brilliant Growth Stocks to Buy Now and Hold for the Long Term

Long-term investing can be the most rewarding investing, and these five growth stocks are at the top of that list.

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 31, 2025 5:00 pm EDT

Investing in the stock market offers a pathway to build wealth over time, especially when focusing on companies with strong growth potential. For those interested in Canadian stocks, several firms listed on the TSX present compelling opportunities. Let’s delve into five notable companies.

Tech growth stocks

Celestica (TSX:CLS) specializes in design, manufacturing, and supply chain solutions across various sectors. In the fourth quarter of 2024, Celestica reported revenues of $2.6 billion, marking a 19% increase from the same period the previous year. The adjusted earnings per share (EPS) reached $1.10, surpassing the high end of the company’s guidance. For the full year, Celestica achieved revenues of $9.7 billion, up from $8 billion in 2023, reflecting a solid growth trajectory. The company’s strategic focus on high-growth areas, particularly in data centres and artificial intelligence (AI), positions it well for sustained expansion.

Shopify (TSX:SHOP) is a leading e-commerce platform that enables businesses of all sizes to set up and manage online stores. In the fourth quarter of 2024, Shopify reported revenues of $2.8 billion, a 31% increase year-over-year. The company’s gross merchandise volume reached nearly $300 billion for the year, underscoring its significant market presence. Adjusted EPS was $0.44, aligning with analysts’ expectations. The growth stock’s continuous innovation and focus on enhancing the merchant experience position it for sustained long-term growth in the evolving e-commerce landscape.

WELL Health Technologies (TSX:WELL) is a digital health company that provides a comprehensive platform for healthcare practitioners. In the third quarter of 2024, WELL Health reported record quarterly revenue of $251.7 million, a 23% year-over-year increase driven by organic growth. Plus, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) reached $32.7 million, reflecting 16% growth. The growth stock surpassed a $1 billion annualized revenue run rate, achieving this milestone ahead of schedule. WELL Health’s aggressive acquisition strategy and expansion in telehealth services position it at the forefront of the digital health industry. As the demand for digital health solutions continues to grow, WELL Health should pursue sustained expansion.

Asset stocks

Agnico Eagle Mines (TSX:AEM) is a leading gold mining company with operations in Canada, Finland, and Mexico. In the fourth quarter of 2024, Agnico reported record gold production and free cash flow. The growth stock’s balance sheet further strengthened by reducing debt, enhancing its financial stability. The company’s focus on high-quality, low-risk mining jurisdictions and its consistent dividend payments make it an attractive option for investors seeking exposure to the precious metals sector. With gold prices remaining robust, Agnico should continue delivering strong financial results.

Brookfield Corporation (TSX:BN), a global alternative asset manager, reported record results for 2024. Distributable earnings before realizations increased by 15% to $4.9 billion, or $3.07 per share. The growth stock completed approximately $135 billion in financings and monetized nearly $40 billion of assets at strong returns. Brookfield’s diversified portfolio spans renewable energy, infrastructure, real estate, and private equity, providing a balanced exposure to various sectors. With a focus on sustainable investments and value creation, Brookfield is well-equipped to capitalize on emerging opportunities in the global market.

Bottom line

Investing in growth stocks requires careful consideration and due diligence. While the companies mentioned have demonstrated strong performance and potential, it’s essential to assess individual investment goals and risk tolerance. Diversifying a portfolio and consulting with a financial advisor can help mitigate risks associated with market volatility. The Canadian market offers a range of opportunities, and focusing on growth stocks with solid fundamentals and strategic growth plans can be a prudent approach for long-term investors.