2 Canadian Stocks I’d Buy Before the Market Changes Again

Markets are whipping around, so these two Canadian stocks aim to deliver steadier demand and cash flow.

Amy Legate-Wolfe

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. Before joining Motley Fool Canada, she 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. Follow Amy on LinkedIn and Canada Stock Digest. 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 12, 5:00 pm EDT

| More on: GFLARTG

Key Points

Artemis Gold is ramping up a new B.C. mine with strong cash flow and low costs, plus expansion upside.
GFL Environmental keeps collecting garbage in any economy, and management is boosting guidance and cash flow.
Both stocks offer more durable demand than trend-driven plays, with catalysts that could support earnings over time.

The market has been changing so much lately that it feels like a swingset that I’ve been dying to jump off. Between rate-cut optimism, recession fears, and trade headlines, investors may want stocks with durable demand instead of hype-driven momentum plays. I know I sure do.

That’s why it’s ideal during these periods to focus on companies tied to long-term trends that don’t disappear overnight, even when markets panic. So today, let’s look at some Canadian stocks offering that stability through strong balance sheets, recurring revenue, and catalysts that will keep earnings strong.

panning for gold uncovers nuggets and flakes — Source: Getty Images

ARTG

Artemis Gold (TSXV:ARTG) is an ideal option right now as gold stocks have become quite attractive as investors continue to have concerns over inflation, debt, and economic slowdowns. The company owns Blackwater Mine in British Columbia, one of Canada’s newest large-scale gold mines, with the stock climbing over 100% in the last year as the mine went into commercial production.

Earnings helped that growth even more. During the fourth quarter of 2025, operating cash flow reached $198 million, while full-year operating cash flow hit $561 million. Earnings before interest, taxes, depreciation and amortization (EBITDA) came in at $237 million in Q4 and $630 million for full-year 2025. Furthermore, net income during Q3 2025 was $110.9 million, or $0.48 per share, versus a loss the year before during construction.

Even better news? The company is ultra-low cost with all-in sustaining costs (AISC) around US$869 per ounce. In fact, Blackwater is now within the lowest-cost decile among gold producers globally! Phase 2 expansion could materially increase production over the next several years. With a market cap near $8 billion and trading at 17.7 times earnings, analysts still see even more room to run.

GFL

Then we have GFL Environmental (TSX:GFL), another great fit as garbage collection and environmental services remain essential no matter what the economy does. GFL stock is one of North America’s largest waste management companies, operating across Canada and the United States. During the last two years, it has spent that time restructuring operations, selling non-core assets, and focusing on improving margins and cash flow.

In its latest first quarter for 2026, revenue came in around $1.6 billion, while management raised full-year 2026 guidance. New guidance calls for revenue between $7.32 billion and $7.34 billion, adjusted EBITDA around $2.2 billion, and adjusted free cash flow around $850 million. And yet at writing, GFL stock is down about 13% year-to-date.

GFL stock now looks like a superb opportunity. It continues expanding through acquisitions, with eight deals already completed in 2026. It also now offers a cleaner balance sheet, which gives management more flexibility for buybacks, growth investments, and margin expansion. Yes, debt levels are larger than some competitors, and its acquisition-heavy strategy can create integration risks. However, GFL continues to be a solid compounder for investors looking towards a defensive infrastructure-type business.

Bottom line

When it comes to securing stocks before the market changes again, both of these Canadian stocks are winners. ARTG offers a way to leverage gold, while GFL stock offers recurring defensive cash. These two should continue seeing durable demand, rather than ebbing and flowing with trends.