Top Canadian Stocks to Buy With $5,000 Right Now

For investors looking to put their next $5,000 to work, here are three top-shelf ideas to consider to set up a portfolio for meaningful long-term gains.

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Key Points
  • Enbridge and Agnico Eagle Mines Stand Out: Enbridge's record-setting cash flow and dividend hikes solidify its status, while Agnico Eagle impresses with robust earnings and substantial gold production plans.
  • Kinaxis Demonstrates Growth Potential: With significant SaaS revenue growth and increased guidance, Kinaxis shows promise amidst market volatility, suggesting a strategic investment opportunity in the AI-powered supply chain sector.

Folks, with Canadian markets offering stability amid global volatility, now’s a prime time to deploy $5,000 into high-quality names boasting rock-solid fundamentals. These Canadian stock picks deliver income, growth, and resilience, perfect for building long-term wealth without the headache.

diversification is an important part of building a stable portfolio

Source: Getty Images

Enbridge

One of the top dividend stock powerhouses I continue to pound the table on, Enbridge (TSX: ENB) is one top Canadian stock that’s coming back into focus for many investors.

Much of this has to do with the company’s essential pipeline monopoly in most parts of North America. That said, the company’s fundamentals have been improving, making Enbridge a top pick for investors of all profiles.

In fact, Enbridge just posted record 2025 distributable cash flow of $12.5 billion, which was up 4% year-over-year. Additionally, the pipeline operator also reaffirmed 2026 guidance for adjusted EBITDA of $20.2–$20.8 billion and discounted cash flow per share, which is expected to come in at a range of $5.70–$6.10.

On the dividend front, Enbridge hiked its quarterly distribution by 3% to $0.97 per share (marking the 31st straight annual increase), suggesting this high-yielding name is going to provide even more income over time. For long-term investors, that’s the story you want to see.

Agnico Eagle Mines

Those who haven’t been sleeping under a rock know what gold prices have been doing lately. Thus, the performance Agnico Eagle Mines (TSX: AEM) has put forward shouldn’t be a surprise.

Indeed, just take a look at the stock chart above before I say more. This is a high-flying commodities producer with plenty of operational upside I think is worth considering.

Like its peers on this list, Agnico Eagle crushed 2025 with record adjusted earnings. The company brought in net income of $1.4 billion in Q4 alone, full-year net income of $4.5 billion, and gold production of 3.5 million ounces. Impressively, this production took place at all-in sustaining costs of $1,313 per ounce.

Boosting its quarterly dividend 12.5% to $0.45 per share (yield now roughly 0.8%), this is a company with a dividend component to consider as well. With plans for 30% production growth over the next decade to over 4 million ounces annually, those looking for a company with the potential to benefit in an outsized way from rising precious metals prices have a great option to consider in Agnico Eagle.

Kinaxis

Finally, we have Kinaxis (TSX: KXS), a Canadian software leader in the world of supply chain management tech.

The company reported Q3 2025 software as a service (SaaS) revenue growth of 17% (15% constant currency), which is meaningful. Equally meaningful was the company’s annual recurring revenue (ARR) growth, which accelerated to 17% and drove record adjusted EBITDA margins at 25%.

These sorts of results prompted the company to raise its full-year guidance. However, despite this beat and raise, the market isn’t necessarily sold on Kinaxis’ AI-powered supply chain platform.

I think this recent sell-off could be one for investors to lean into, particularly if we see more partnerships between major AI players and software companies proliferate. In my view, Kinaxis is a leader in its respective sector with a sticky customer base. I think investors who can weather this current volatility may be well-served by at least taking a look at KXS stock here.

Fool contributor Chris MacDonald has no position in any of the stocks mentioned. The Motley Fool recommends Enbridge and Kinaxis. The Motley Fool has a disclosure policy.

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