One of the biggest advantages the stock market offers is accessibility to Canadians at all income levels. With as little as $50, investors can start putting money to work and finding top Canadian stocks to buy and hold for years.
Furthermore, not only does the stock market offer accessibility, but it also offers a tonne of choice. Investors can buy businesses across every sector of the economy, and in many cases invest in Canadian companies with operations all over the world.
So, whether you’re just starting out or simply looking for top Canadian stocks with a lower share price, here are five of the best Canadian companies to consider today, all trading below $50 per share.
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The best blue-chip stocks to buy under $50
If you’re looking for top Canadian stocks to buy now that you can hold for years, high-quality blue-chip stocks like BCE (TSX: BCE) and Brookfield Infrastructure Partners (TSX: BIP.UN) are easily some of the best.
BCE is ideal because it’s a leader in the telecommunications industry, which is both essential and capable of generating significant, recurring cash flow.
That makes it a high-quality and reliable dividend stock that’s well-suited for long-term investors. Today, it trades at just over $34 per share and offers a dividend yield of roughly 5.1%.
Meanwhile, Brookfield Infrastructure is just barely under $50 per share, but it’s still one of the top Canadian stocks you can buy on the TSX.
The company owns essential infrastructure assets that are diversified across the globe, making it incredibly reliable to own for the long haul.
Furthermore, it’s consistently recycling capital and investing in new opportunities, giving it tonnes of long-term growth potential.
And considering that it also offers a current yield above 5%, there’s no question that Brookfield Infrastructure is a top Canadian stock to buy now.
Top defensive growth stocks to buy under $50
If you’re looking for reliable stocks to buy with significant growth potential, two of the best to buy under $50 today are Jamieson Wellness (TSX: JWEL) and WELL Health Technologies (TSX: WELL).
Jamieson is a top pick because it’s one of the best-known companies in the health and wellness space, which is both defensive and supported by long-term demand trends.
The company owns trusted brands, benefits from repeat purchases, and continues to expand internationally, which has allowed it to grow revenue and earnings consistently over time.
That combination of both stability and growth potential makes Jamieson one of the most reliable growth stocks you can buy and hold for years.
Meanwhile, WELL Health offers exposure to the healthcare sector from a different angle. The company operates a growing network of clinics alongside digital health and software platforms, which gives it multiple avenues for long-term growth.
Even after strong growth over the last few years, the stock still trades cheaply, with all seven analysts covering it rating it a buy and its average analyst target price sitting at a more than 80% premium to where it trades today.
So, if you’re looking for top Canadian growth stocks with defensive operations to buy for less than $50, WELL trades at just over $4 per share, and Jamieson trades at just over $30.
A top Canadian REIT trading under $50
It’s no secret that some of the top Canadian stocks to buy are high-quality REITs. So, if you’re looking to add real estate exposure to your portfolio, one of the best REITs you can buy under $50 today is Canadian Apartment Properties REIT (TSX: CAR.UN).
CAPREIT is one of the largest residential landlords in Canada, with a portfolio that spans all across Canada.
Furthermore, in addition to being the largest residential REIT, residential real estate is also one of the most defensive asset classes you can own in the entire economy.
Therefore, given its diversification and long-term growth potential, it’s undoubtedly one of the top Canadian stocks to buy for less than $50 and hold for years. Plus, with the REIT trading essentially the cheapest it has been in over a decade, it currently offers investors a yield of more than 4%.
