The Canadian equity markets have continued their upward momentum this year, with the S&P/TSX Composite Index gaining 3.6% year to date. Strength in commodity prices and expectations of accommodative monetary policies have supported market performance. However, ongoing geopolitical tensions – particularly surrounding Donald Trump’s renewed push to acquire Greenland – along with concerns over protectionist trade policies and elevated market valuations, have introduced notable risks. Against this uncertain backdrop, I believe the following two TSX stocks present attractive buying opportunities for investors seeking value and long-term growth potential.
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Savaria
Savaria (TSX: SIS), a leading provider of accessibility solutions for the elderly and physically challenged, is my first pick. After underperforming the broader equity markets last year with a return of 17.8%, the stock has rebounded strongly, rising over 10% year to date. The company’s long-term growth outlook remains compelling, supported by the demographic tailwind of an aging population. Capitalizing on this trend, Savaria continues to develop innovative products that address evolving customer needs while strengthening its competitive position.
Operationally, the completion of its “Savaria One“ initiative last year has meaningfully improved efficiency through optimized factory layouts, streamlined inventory management, and consolidated procurement across its facilities. These initiatives have driven the company’s adjusted EBITDA margin above its 20% target. In addition, Savaria is actively reviewing its supply chain, implementing measures to optimize its North American manufacturing footprint, and ensuring reliable service amid ongoing geopolitical uncertainties.
Moreover, Savaria pays a monthly dividend of $0.0467 per share, yielding 2.2%. The stock also trades at a reasonable valuation, with NTM price-to-sales and price-to-earnings multiples of 1.9 and 18.7, respectively. Considering all these factors, I believe Savaria would be an excellent buy despite the uncertain macro environment.
Kinross Gold
Amid ongoing geopolitical tensions, investors have increasingly turned to gold, a safe-haven asset, pushing prices to record highs. Over the past 12 months, gold prices have surged by approximately 75%, significantly benefiting gold-mining companies such as Kinross Gold (TSX: K). The company operates a diversified portfolio of mines across the United States, Canada, Brazil, Chile, and Mauritania, which helps mitigate operational and regional risks.
Despite lower production volumes, Kinross delivered strong financial results in its most recently reported third quarter, supported by a sharp increase in realized gold prices. Total production declined by 10.7% year over year to 503,862 gold-equivalent ounces, primarily due to lower output from the Tasiast and Fort Knox mines. However, the average realized gold price rose 39.7% to US$3,460 per ounce, driving adjusted earnings per share up 83.3% year over year to US$0.44. Attributed free cash flow for the quarter came in at a robust US$686.7 million.
Supported by these strong cash flows, Kinross has repurchased US$405 million worth of shares between April and September. The management had targeted to repurchase shares worth US$600 million in 2025. In addition, management increased the quarterly dividend by 17% to $0.035 per share, yielding 0.41% on a forward basis. The company’s balance sheet also remains solid, given its cash and cash equivalents of $1.7 billion and total liquidity of $3.4 billion.
Looking ahead, I expect gold prices to remain elevated in the near to medium term amid persistent geopolitical uncertainty. Alongside this favourable pricing environment, Kinross continues to focus on strengthening its production capabilities, with management expecting gold-equivalent output to remain steady at around two million ounces annually in both 2026 and 2027. Moreover, Kinross trades at 12.3 times analysts’ projected earnings over the next 4 quarters, making it an appealing buying opportunity at current levels.
