5 Top Canadian Stocks to Pick up Now in January

January can reward investors who put fresh TFSA/RRSP cash to work in stocks with clear catalysts and steady demand.

Key Points
  • AEM, ATZ, CP, SLF, and KXS each has recent results that support a real 2026 growth or income story.
  • The biggest risks are commodity swings for AEM, rich valuations for ATZ and KXS, and economic sensitivity for CP and SLF.
  • A practical approach is to pick one or two that fit your risk tolerance and add consistently through January.

January has a funny habit of rewarding investors who show up with a plan. You get fresh cash going into the market, new Registered Retirement Savings Plan (RRSP) and Tax-Free Savings Account (TFSA) contributions, and a natural reset after tax-loss selling fades. That mix can create quick momentum in stocks that already have a clear story and steady demand. The best January buys also tend to have something concrete to point to, like strong earnings, a simple growth driver, or a business that keeps performing even when headlines get loud. And right now, these five belong on your radar.

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Source: Getty Images

AEM

Agnico Eagle Mines (TSX: AEM) runs high-quality mines and sells gold, so it can benefit when gold prices rise and margins widen. In its third quarter of 2025, it posted adjusted net income per share of US$2.16 and free cash flow of US$1.2 billion, which tells you the business can generate serious cash when conditions cooperate. The obvious risk sits in the same place as the opportunity: if gold cools off, the stock can cool off fast, too. Even so, this is one Canadian stock that could continue climbing.

ATZ

Aritzia (TSX: ATZ) sells fashion through boutiques and e-commerce, and it has built a brand that can punch above its weight in Canada and the U.S. The Canadian stock has been a rocket over the past year, so it has already rewarded patience. What keeps it interesting now is that the latest results still show real growth, with fiscal first-quarter 2026 net revenue of US$663 million and net income of US$42 million, which supports the idea that the demand story has not fizzled.The trade-off is valuation, because a near-50 times trailing earnings multiple can make the stock feel pricey if sales growth slows even a little.

CP

Canadian Pacific Kansas City (TSX: CP) earns its place as railways often look boring right up until you remember how hard it is to replace one. It runs a rail network that links Canada, the U.S., and Mexico, which matters when trade lanes and supply chains keep evolving. In the third quarter of 2025, it reported operating revenues of US$3.7 billion and diluted EPS of US$1.01, showing that the earnings engine keeps running even without hype. The catalyst into 2026 is simple, better volume and pricing as the network matures. Yet the risk also stays simple, since a weak economy can slow shipments and pressure results even at a reasonable-looking valuation near 21 times trailing earnings.

SLF

Sun Life (TSX: SLF) mixes defence with income, and that combination often looks appealing after the holidays. It sells insurance and wealth products, so it can benefit from markets that behave and interest rates that stop doing backflips. The Canadian stock has also had a solid run. In the third quarter of 2025, it reported underlying net income of $1 billion and underlying diluted earnings per share (EPS) of $1.86, and it even raised its dividend by 4%. Investors get paid while they wait with a dividend yield around 4%, though the key risk is that weaker markets or higher claims can put pressure on results.

KXS

Finally, Kinaxis (TSX: KXS) rounds out the list as the “growth with a brain” option, as supply chain software becomes more valuable when the world stays unpredictable. It sells cloud software that helps big companies plan and respond faster, which matters when inventory and logistics mistakes get expensive. In the third quarter of 2025, it grew software as a service (SaaS) revenue to US$73.7 million and reported annual recurring revenue (ARR) rose 19%, which supports the idea that demand remains healthy. The risk sits in valuation, as it trades at a high price-to-earnings ratio, so the market will not forgive a stumble in growth or guidance.

Bottom line

Put together, these five Canadian stocks cover a lot of what January investors usually want. None of it guarantees a quick win, but each one has a clear reason to exist in a Canadian portfolio right now. If you want to keep it practical, pick one or two that match your risk tolerance, add in a calm choice, and let the calendar do what it often does in January: reward consistency over drama.

Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Aritzia. The Motley Fool recommends Canadian Pacific Kansas City and Kinaxis. The Motley Fool has a disclosure policy.

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