The equity market has outperformed most other asset classes over the long term. This makes stocks a compelling choice for investors looking to create wealth over time. Also, you don’t need a massive amount of money to get started. An investment of $5,000 can be more than sufficient to begin constructing a well-balanced portfolio of top Canadian stocks with durable business models and the ability to deliver above-average returns.
So, if you have $5,000 to invest, here are the top Canadian stocks to buy right now. These TSX-listed companies are backed by strong fundamentals and have solid growth prospects.
Top Canadian stock #1: Dollarama
Dollarama (TSX:DOL) is one of the top Canadian stocks to buy now. The discount retail chain operator offers stability, growth, and income, making it a compelling long-term investment.
For instance, its defensive business model performs well across economic cycles, enabling the company to deliver consistent earnings and reliable shareholder returns. Over the past five years, Dollarama stock has grown at a compound annual growth rate (CAGR) of about 31%, translating into capital gains of roughly 287%.
Looking ahead, its value-pricing strategy, ongoing store expansion in Canada, and international opportunities augur well for growth. Further, its solid mix of national brands and private-label products and partnership with third-party delivery platforms augur well for growth.
Dollarama has consistently increased its dividend since 2011. Moreover, its growing and resilient earnings base position it well to maintain the dividend-growth streak. Overall, Dollarama is well-positioned to deliver solid total returns.
Top Canadian stock #2: Celestica
Celestica (TSX:CLS) is another top Canadian stock to buy right now. It specializes in data centre infrastructure and advanced technology solutions, and is benefiting from strong demand tailwinds led by artificial intelligence (AI).
As enterprises and hyperscale cloud providers continue to invest heavily in AI-related infrastructure, demand for Celestica’s customized hardware platforms and systems will likely remain high. Further, strong demand for Celestica’s high-performance data centre networking equipment will boost its financials.
Looking ahead, strong AI-driven demand for data centre technologies and operating leverage will help lift profitability and the company’s share price.
Management expects business momentum to carry forward, with revenue growth projected to accelerate in 2026. Beyond that, a robust pipeline of new growth opportunities is expected to support continued expansion into 2027. Overall, Celestica is well-positioned to deliver strong returns in the coming years.
Top Canadian stock #3: Cameco
Cameco (TSX:CCO) is an attractive Canadian stock to buy right now. It is the world’s largest uranium producer and is benefiting from the push for cleaner, more reliable power sources amid rising energy demand.
Cameco also owns stakes in some of the highest-grade, lowest-cost uranium reserves globally, giving it a durable cost advantage and helping protect margins across market cycles. Its strategic investments in Westinghouse Electric and Global Laser Enrichment further strengthen its position across the nuclear fuel value chain.
Although Cameco stock has surged more than 300% over the past three years, the long-term growth story remains intact. Demand for nuclear power is accelerating, supported by decarbonization goals and the rapid growth of AI data centres. With strong demand tailwinds, long-term supply contracts, expansion initiatives, and scale advantages, Cameco remains well-positioned to capture ongoing energy transition opportunities.
