The Smartest Canadian Stocks to Buy With $100 Right Now

Investing in high-quality Canadian stocks doesn’t require a lot of money. You can start buying and building a portfolio of fundamentally strong stocks even with a modest sum of $100. Notably, small but consistent contributions can grow into solid wealth over time.

Against this background, here are three of the smartest Canadian stocks to buy right now, even with small contributions of as little as $100.

MDA Space stock

MDA Space (TSX:MDA) is a compelling growth stock to add to your portfolio with $100. This space technology company consistently delivers strong financial results. This translates into massive capital gains.

For instance, over the past three years, MDA Space stock surged more than 508%, reflecting a compound annual growth rate (CAGR) of 82.3%. The strong demand for its products and solutions, along with a substantial order backlog, has led to this rally and boosted investor confidence.

Global demand for space-based solutions is accelerating as satellites, earth observation, climate monitoring, and defence applications become critical to infrastructure and national security. MDA is well-positioned to capture this demand, thanks to its diverse portfolio of proven technologies that serve both commercial and government clients. Its robust pipeline of contracts, alongside new program wins, points to sustained growth momentum.

Importantly, MDA’s reach extends well beyond a single market. At the end of Q2, its backlog stood at $4.6 billion, with the majority of projects coming from outside the U.S. That global footprint, supported by a well-diversified supply chain, helps reduce exposure to trade-related risks. Meanwhile, its differentiated, cost-competitive offerings make substitution unlikely.

With profitability intact, a solid balance sheet, and strong customer engagement, MDA Space is equipped to fund its expansion and unlock long-term value. Thus, for investors seeking a high-growth stock, MDA Space remains a compelling bet.

Hydro One stock

Hydro One (TSX:H) is another Canadian stock to buy right now with $100. Its regulated electricity transmission and distribution operations remain immune to commodity price swings, helping it generate predictable cash flows and low-risk earnings.

Thanks to its conservative business model and solid financials, shares of this utility company have grown at a CAGR of 15.9% over the last three years, delivering capital gains of 55.7%. Besides outperforming the TSX in terms of growth, Hydro One is also focused on enhancing its shareholders’ value. Notably, it has raised its dividend at a 5% CAGR over the past eight years.

Thanks to its low-risk, predictable earnings, and expanding rate base, the company will continue to deliver stable income and solid growth. Its rate base is projected to grow at a 6% CAGR through 2027, which will likely drive annual earnings growth of 6–8%, supporting higher dividend payments. Management projects a 6% increase in its yearly dividend during the same period.

Further, Hydro One’s robust balance sheet and predictable cash flows will position it well to capitalize on growth opportunities. Also, tailwinds from growing electricity demand, driven by data centre expansion and population growth, will likely drive its financials and share price.