Two Canadian stocks are setting up for breakout years, and both deserve a spot on your radar right now.
Brookfield Corporation (TSX: BN) and NexGen Energy (TSX: NXE) sit at the intersection of two massive global trends: the rise of alternative asset management paired with insurance, and the structural undersupply of uranium in a world that is shifting towards nuclear power.
Both TSX stocks are backed by strong financials and management teams with solid track records. Here’s why I think the two Canadian companies are supercharged to surge in 2026.
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The bull case for this blue-chip TSX stock
Brookfield is one of the most diversified alternative asset managers on the planet, and 2025 was its best year yet.
- The company delivered record distributable earnings of US$6 billion, or US$2.54 per share, up from the prior year.
- Its asset management business generated US$2.8 billion in distributable earnings, driven by US$112 billion in capital raised and a 22% jump in fee-related earnings to US$3 billion. Fee-bearing capital now sits above US$600 billion.
Brookfield’s Wealth Solutions (insurance) business generated US$1.7 billion in distributable earnings in 2025, a 24% year-over-year increase, and is on track to manage roughly US$200 billion in insurance assets by the end of 2026, up from US$140 billion today.
Management has guided for over US$2 billion in distributable earnings from the Wealth Solutions segment in 2026.
Brookfield also returned US$1.6 billion to shareholders in 2025 through dividends and buybacks. It repurchased more than $1 billion in shares at an average of US$36, which management believes represents nearly a 50% discount to intrinsic value.
Moreover, Brookfield plans to merge its listed insurance entity, BNT, with the parent company to create a single, streamlined, index-eligible stock. Once the merger is complete, the full US$180 billion in permanent capital will back the insurance business, unlocking growth with lower operating leverage.
Real estate, often the most scrutinized part of the business, is also turning the corner. Brookfield signed nearly 17 million square feet of office leases globally in 2025, with rents averaging 18% higher than expiring leases.
Super-core and core-plus portfolios finished the year with more than 95% occupied. Sentiment is catching up to fundamentals — and monetizations should follow.
The board just raised the quarterly dividend 17%, and management says 2026 should be another record year.
A levered play on uranium’s structural deficit
If Brookfield is a compounding machine, NexGen is a coiled spring.
The company owns the Rook I Project in Saskatchewan, which hosts the Arrow deposit, one of the highest-grade uranium discoveries in history.
And after more than a decade of planning, NexGen is on the doorstep of construction approval from Canada’s Nuclear Safety Commission (CNSC).
Here’s the core thesis: uranium demand is growing fast, but supply isn’t keeping pace. Uranium has moved from US$17 per pound in 2017 to US$90 per pound in early 2026, yet there has been no meaningful supply response.
Producers are at capacity, committed to forward sales, and dealing with execution challenges across key jurisdictions. Meanwhile, utilities have sharply increased spot market purchases, up 85% year over year in 2025.
NexGen Chief Executive Officer Leigh Curyer said on the company’s Q4 earnings call that a uranium price of over US$200 a pound in today’s terms, consistent with the real-dollar value of the previous cycle peak, is “a very likely consequence of the demand and supply worldwide.”
That would be transformative for NexGen, which has deliberately structured its offtake contracts to maximize exposure to future prices at the time of delivery.
The company is well-positioned to execute at scale. It has US$1.1 billion in cash on hand. The first 12 months of construction cost roughly US$300 million. Critical path procurement packages are essentially in hand, and shaft-sinking equipment is warehoused and ready to deploy. Management knows every day of the 48-month construction schedule.
Both stocks are compelling in their own right. Together, they offer Canadian investors exposure to two very different engines of growth — one powered by global capital flows and compounding, the other by an energy transition that cannot happen without uranium.
The window to get in ahead of the catalysts may be closing.
