Why Smart Investors Are Eyeing These 3 Canadian Stocks Right Now

These three TSX picks offer real assets and clear catalysts, without needing a perfect market to work.

Amy Legate-Wolfe

Author Bio

Amy became interested in investing in 2018 after having her first daughter. After receiving a masters degree in journalism from Western University, she became frustrated that the finance industry remained a confusing place for Canadians like her: new parents, millennials, and other young people who needed to understand their finances. Now, Amy focuses on tech companies and renewable energy for growth opportunities, coupling that with long-term investing strategies and equities. She also provides investors with a daily newsletter, Canada Stock Digest, for daily market updates. Her work can also be found at Canada's National Observer, where she writes on the business side of climate action. Before joining Motley Fool Canada, Amy wrote for major news organizations including HuffPost, CTVNews.ca, and CBC. When she’s not researching investing strategies, Amy’s time is pretty much monopolized by her two wild daughters, but in what little spare time she has she loves to do yoga, go on walks with her dog, and travel with her husband.

Social Media

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Favorite Investment Quote

“October: This is one of the particularly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August and February.” – Mark Twain

Published May 3, 9:45 am EDT

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Key Points

Canadian General Investments lets you buy a basket of top stocks at a discount to its net asset value.
Boralex is in a takeout deal, so the story is mostly about deal approval and limited upside to the offer.
Alamos Gold gives gold exposure plus a path to higher production, but results still depend on metal prices and execution.

Smart investors don’t need fireworks right now, but businesses with clear value, real assets, and a reason to keep drawing attention, even if the market gets choppy. That can mean stocks offering a timely reason to look twice, while still carrying enough risk to keep investors honest. So, let’s get into it.

woman stares at chocolate layer cake — Source: Getty Images

CGI

Canadian General Investments (TSX:CGI) looks interesting as it gives investors a broad slice of Canadian and global growth through one closed-end investment company. It owns a portfolio filled with major names, including Franco-Nevada, Celestica, NVIDIA, Cameco, Canadian Pacific Kansas City, Dollarama, and Royal Bank. So, while CGI trades like a single stock, it acts more like a curated basket of businesses. That can appeal to investors who want exposure to several trends at once, from gold and uranium to railways, banks, and artificial intelligence.

The valuation angle stands out. CGI recently traded with a net asset value of around $85.86 per share. That offers a deep discount, even after a strong year for Canadian equities. Its yield also sits around 2.3%, giving investors some income while they wait. The risk comes from leverage and market exposure. If its holdings stumble, CGI can drop, too. But for investors who like buying assets for less than they’re worth on paper, CGI earns a spot on the watch list.

BLX

Boralex (TSX:BLX) looks relevant now for one very obvious reason: smart money has already moved. Brookfield and La Caisse agreed to buy Boralex for $37.25 per share in cash, a deal that valued the company at about $9 billion in enterprise value. That offer came at a 31.8% premium to the stock’s March 20th closing price. Boralex owns wind, solar, hydro, and battery storage assets across Canada, France, the United States, and the United Kingdom, so it sits right in the middle of the power-demand story.

Its latest results show why large investors want it. Boralex reported 2025 adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $552 million and net earnings of $33 million, while production rose 8% from 2024. The company also ended 2025 with 3,783 megawatts of installed capacity and a large development pipeline. The risk now centres on deal completion. Shareholders and regulators still need to approve it, and the upside may look capped near the offer price. Still, Boralex shows what investors want in this market: contracted power, growth projects, and infrastructure cash flow.

AGI

Alamos Gold (TSX:AGI) also fits the moment, especially with gold still drawing attention from investors worried about inflation, debt, and global uncertainty. Alamos stock operates mines in Canada and Mexico, including Young-Davidson and the Island Gold District in Ontario. It also gained scale through its Argonaut Gold deal, which brought the Magino mine into the fold. That made Alamos stock more Canadian-focused and gave it a clearer path to long-term production growth.

The numbers look strong. In 2025, Alamos stock reported record revenue of US$1.8 billion, up 34% from 2024, and record free cash flow of US$351.7 million. Production came in at 545,000 ounces, lower than planned, so this wasn’t a perfect year operationally. But higher gold prices helped margins, and management expects production to approach one million ounces annually by 2030. That’s the hook. The risk, of course, comes from gold prices, mine costs, and execution. If gold cools or projects run late, the stock can lose shine quickly.

Bottom line

Altogether, CGI offers a discounted way to own a broad mix of winners. Boralex shows how valuable renewable power assets have become to deep-pocketed buyers. Alamos stock gives investors gold exposure with real growth behind it. None of these stocks comes risk-free, but each one has a clear story, fresh numbers, and a reason smart investors may keep watching right now.