Canadians with a sizeable risk appetite should consider allocating a small portion of their investment towards quality growth stocks to benefit from outsized returns over time. In this article, I have identified two top Canadian stocks to buy with just $1,000 right now.
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Is this Canadian stock a good buy?
Valued at a market cap of $821 million, POET Technologies (TSXV:POET) designs and manufactures semiconductor products using its proprietary POET Optical Interposer platform.
This technology integrates electronic and photonic devices onto a single chip through advanced wafer-level manufacturing. The company serves data centres, telecommunications, 5G networks, and sensing markets, operating across North America and Asia.
POET Technologies is shifting from research and development into commercial production of its optical components for AI data centres. The company reported third-quarter revenue of US$298,000, a jump from just US$3,700 in the same period last year. Importantly, POET secured two initial production orders totalling over US$5.6 million, marking the start of what management expects will be a steady revenue ramp throughout 2026.
POET recently introduced a 1.6 terabits-per-second optical receiver developed with Semtech, positioning the company in the highest-performance segment of AI networking. The partnership with Mitsubishi on laser components has opened doors to meetings with major hyperscalers that POET struggled to access before.
Manufacturing capacity is no longer a concern as POET completed its transition from China to a new facility at Globetronics in Malaysia. Between Globetronics and partner NationGate, POET can now produce over one million optical engines annually. The company has hosted multiple customer visits to the facility as buyers verify production capabilities before committing to supply agreements.
POET raised US$250 million in equity financing during the quarter through three rounds at prices between US$5.00 and US$7.25 per share. This capital will fund internal expansion and potential acquisitions as the company broadens its product lineup.
While POET is fairly pre-revenue, analysts forecast sales to surge to US$112 million in 2027, up from US$14 million in 2026. Bay Street estimates adjusted earnings at US$0.05 per share in 2027, compared to a loss per share of US$0.48 in 2024.
Is this TSX stock undervalued right now?
Valued at $3.5 billion by market cap, Endeavour Silver Corp (TSX:EDR) is a silver mining company engaged in the acquisition, exploration, development, extraction, and reclamation of mineral properties in Mexico, Chile, Peru, and the United States. It explores for gold and silver deposits and precious metals, as well as polymetallic deposits.
Rising silver prices have allowed EDR to return close to 100% to shareholders in the last 12 months. Despite these outsized gains, the TSX mining stock is down almost 20% from its 52-week high.
Endeavour Silver reported a transformational third quarter, with its flagship Terronera mine reaching commercial production in mid-October following a successful commissioning phase.
The company produced 1.8 million ounces of silver and 7,300 ounces of gold in the quarter, an 88% increase from the prior year, driven by the newly acquired Kolpa mine and full production at Guanacevi. Revenue jumped 109% to $111 million, driven by higher metal prices and increased output.
Analysts tracking EDR stock forecast revenue to increase from $314 million in 2024 to $1.07 billion in 2027. In this period, adjusted earnings are projected to expand from $0.04 per share to $0.90 per share. If the silver miner is priced at 20 times forward earnings, it should surge by more than 60% over the next 12 months.
