Chasing stocks simply because they come with a low price tag isn’t a strategy that typically leads to strong returns. But for investors looking to tap into growth without committing a large amount of capital upfront, some of the most promising growth plays on the TSX are quietly trading for under $50.
Notably, these stocks are backed by solid businesses with strong fundamentals and the potential for long-term upside.
Against this background, here are some compelling TSX stocks under $50 that investors might soon wish they had snapped up earlier.
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MDA Space stock
MDA Space (TSX: MDA) is a compelling growth stock to buy under $50. The space technology company is likely to deliver stellar gains in the long run, led by solid demand for its technology and solutions in its Satellite Systems, Robotics & Space Operations, and Geointelligence businesses.
The company is gaining momentum in the satellite market, driven by a surge in requests for communication satellite solutions and constellation projects. A recent highlight is its $1.1 billion follow-on contract with Globalstar to build over 50 digital satellites for a next-generation low Earth orbit constellation. This reflects MDA’s technical leadership and ensures multi-year revenue visibility.
Its Robotics & Space Operations segment is seeing strong engagement from both government and commercial clients. Meanwhile, the Geointelligence division continues to benefit from robust demand for Earth observation data.
MDA’s backlog has swelled to approximately $4.8 billion, reflecting the strength of its order pipeline and providing a solid foundation for future growth. The company is investing in next-gen technologies and expanding into high-growth global markets, while also scaling operations and acquiring strategic assets to boost capabilities.
Over the past year, MDA’s stock has surged more than 203.4%, and the momentum shows no signs of slowing. With a diversified portfolio, a trusted customer base, and strong market tailwinds, MDA Space is well-positioned to capitalize on the accelerating demand in the space economy.
SECURE Waste Infrastructure stock
SECURE Waste Infrastructure (TSX: SES) is another top TSX stock to buy under $50. This company plays a vital role in waste management and energy infrastructure. Moreover, its core network continues to benefit from steady industrial and production-related waste volumes, reflecting resilience amid macro uncertainty.
While the metals recycling segment has faced challenges lately, particularly due to softer demand and the impact of tariffs, SECURE has shown agility. By redirecting ferrous scrap to U.S. markets where tariffs don’t apply and shifting its focus to non-ferrous materials with stronger fundamentals, the company is actively managing risk and optimizing its cost structure.
Further, its strong balance sheet, strategic commercial flexibility, and trusted relationships across its supply chain position the company well to capture upside as market conditions improve.
Looking ahead, the broader trends are in SECURE’s favour. As oil and natural gas production expands and access to global markets improves, the volume of associated waste byproducts is set to increase. SECURE is poised to benefit from increased waste byproduct volumes that require specialized treatment and disposal.
Moreover, its high-barrier asset network provides both room for expansion and resilience through market cycles. On top of that, tightening environmental regulations and mandated remediation spending are expected to drive consistent, recurring waste volumes.
With these structural tailwinds in place, the company is poised to deliver steady volume growth and solid earnings through its organic capital program.
