Canadian investors have plenty of reasons to stay bullish on the TSX heading into 2026. With economic stability under President Trump’s policies and rising demand for critical resources, select names stand out for their growth potential.
Here are two top Canadian stocks I think have tremendous upside in the year ahead. Let’s dive in!
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The Metals Company
Most investors who have followed my work over the past year may rightly note that The Metals Company (NASDAQ: TMC) is one of the top Canadian growth stocks I’m bullish on right now.
The Vancouver-based deep-sea mining innovator is a first-mover in one of the most potentially profitable sectors in the market, in my view. The company seeks to mine massive polymetallic nodule resources in the Clarion-Clipperton Zone. This area is packed with nickel, cobalt, copper, and manganese, essentials for EV batteries and renewables. Current estimates suggest 363 million tons of nodules (including 3.5 million tons of nickel) are available to TMC over time.
I think this future growth should scream opportunity, for those thinking long term. And the good news is that TMC has the capital in place to get to commercialization, with $165 million in liquidity plus potential for $400 million more from warrants. This capital should fund the company’s path to commercialization, possibly ahead of the late-2027 timeline, if regulations align.
Analysts have hiked targets to $12.25, citing first-mover edge amid global electrification trends, while 2025’s 414% stock surge and 28% EPS growth over three years position it as a top Canadian growth play. With EV demand exploding, TMC’s low-cost, low-impact extraction could deliver explosive returns. I think TMC stock is a screaming buy right now, before permits unlock the floodgates.
Canadian Imperial Bank of Commerce
For investors looking for stability with a punch, Canadian Imperial Bank of Commerce (TSX: CM) has provided that in spades in recent years.
Indeed, the Big 5 Canadian bank’s chart above is impressive, considering the part of the economic cycle we’re in now. Much of that has to do with CIBC absolutely crushing earnings expectations this past quarter.
The company posted net profit of $3.1 billion ($3.21 on a diluted earnings per share basis), up massively from $2.2 billion last year, on 15% revenue growth to $8.4 billion. Net interest margins expanded to 1.9%, ROE hit 17.4%. Additionally, provisions for credit losses dipped slightly to $568 million, showcasing resilience in a steady economy.
The bank’s fundamentals are rock-solid. With a CET1 ratio at 13.4% supporting growth and buybacks (5.5 million shares repurchased recently), I think CIBC’s recent dividend hike remains sustainable. Much of this has to do with a reasonable and sustainable 45% payout ratio.
Trading at a price-earnings multiple of around 15 times with a moderate buy rating from most analysts, CIBC is one unique Canadian bank that could outperform this year. That’s my two cents, for what it’s worth.
