On February 21, Brianne Gardner, senior wealth manager at Velocity Investment Partners, Raymond James, appeared on BNN Bloomberg to share her outlook on the shifting landscape of the Canadian and US markets for 2026. Focusing on the Canadian landscape, Gardner highlighted the importance of leaning into commodity exposure and high-quality domestic names. International diversification remains a cornerstone of her strategy to navigate global uncertainty. She noted that her team is actively adding to international holdings to balance domestic and US exposure.
This strategy is complemented by a consistent allocation to gold, which she views as a necessary hedge during times of geopolitical risk and economic dispersion. She explained that staying nimble is essential as policy changes and earnings reshape market leadership, and international diversification provides the necessary breadth to capture growth outside of the concentrated US tech trade.
That being said, we’re here with a list of the 10 best Canadian stocks to buy under $20.
Our Methodology
We used screeners to identify Canadian stocks that are trading below $20 per share, and limited our final selection to companies that have recently reported noteworthy developments likely to impact investor sentiment. These stocks are also popular among analysts and elite hedge funds.
Note: All data was sourced on February 25.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
10 Best Canadian Stocks to Buy Under $20
10. Canada Goose Holdings Inc. (NYSE:GOOS)
Canada Goose Holdings Inc. (NYSE:GOOS) is one of the best Canadian stocks to buy under $20. On February 5, Canada Goose reported a 13% year-over-year revenue increase to $695 million for FQ3 2026, which was driven by a 13% rise in D2C sales and a 14% gain in wholesale. Geographic performance was supported by a 20% revenue jump in North America and a 12% increase in the Asia Pacific region, particularly in mainland China.
The company’s expanded year-round product assortment, featuring lighter-weight fabrics and non-parka styles, contributed to doubling the revenue from new product offerings compared to the previous year. Despite the top-line growth, adjusted EBIT fell to $204 million with a margin of 29.3%, representing a 450-basis point contraction from the prior year. This decline was influenced by a 40-basis-point drop in gross margin due to a shift in product mix and a $66 million increase in SG&A expenses.
Management highlighted four consecutive quarters of positive D2C comparable sales growth and expressed confidence in long-term brand relevance following strategic marketing investments. Looking ahead, Canada Goose Holdings Inc. (NYSE:GOOS) aims to improve store and marketing efficiencies to drive margin expansion.
Canada Goose Holdings Inc. (NYSE: GOOS), together with its subsidiaries, designs, manufactures, and sells performance luxury outerwear, apparel, footwear, and accessories for men, women, youth, children, and babies. It operates through three segments: Direct-to-Consumer, Wholesale, and Other.
9. Lightspeed Commerce Inc. (NYSE:LSPD)
Lightspeed Commerce Inc. (NYSE:LSPD) is one of the best Canadian stocks to buy under $20. On February 5, Lightspeed Commerce reported FQ3 2026 revenue of $312.3 million, which marked an 11% increase year-over-year. Adjusted EBITDA rose 22% to $20.2 million, and the company achieved its second consecutive quarter of positive free cash flow at $15 million. Growth was largely driven by North American retail and European hospitality sectors, which saw a combined revenue increase of 21%, while the company added 2,600 net new customer locations during the quarter.
Financial margins showed broad improvement, with total gross margin rising to 43% from 41% the previous year. Software gross margin reached 82% due to cloud spend optimization and AI-driven support efficiencies, while transaction-based gross margin climbed to 31%. However, software revenue growth remained moderate at 6% as the company lapped prior pricing actions, and hardware margins declined due to strategic discounting aimed at acquiring new business.
The company is heavily integrating AI to differentiate its retail and hospitality workflows, focusing on inventory optimization and customer experience to drive upsells. Payment penetration reached 46%, up from 42% last year. To sustain this momentum, Lightspeed Commerce Inc. (NYSE:LSPD) hired 150 new sales representatives to accelerate location growth and outbound sales performance.
Lightspeed Commerce Inc. (NYSE:LSPD) sells cloud-based software subscriptions and payments solutions for single and multi-location retailers, restaurants, golf course operators, and other businesses.
8. Lionsgate Studios Corp. (NYSE:LION)
Lionsgate Studios Corp. (NYSE:LION) is one of the best Canadian stocks to buy under $20. On February 5, Lionsgate Studios reported a strong FQ3 2026. The company’s film and television library reached an all-time high of $1.05 billion in trailing 12-month revenue, marking its fifth consecutive record quarter. Key successes included the worldwide box office hit The Housemaid, which already has a sequel in production, alongside renewals for 12 of the television group’s 13 scripted series.
Despite these wins, the company faced financial headwinds, reporting a fully diluted loss of $0.16 per share. Net cash flow used in operating activities totaled $109 million, and leverage increased to 7.4x due to lower trailing 12-month adjusted EBITDA. Additionally, the television segment saw a year-over-year decline in revenue and profit, which management attributed to the specific timing of episodic deliveries.
To drive future growth, Lionsgate Studios Corp. (NYSE:LION) is aggressively integrating AI into scheduling, post-production, and script revisions under a newly appointed Chief AI Officer. The company is also focused on monetizing its IP through non-theatrical ventures, including The Hunger Games live experiences and upcoming John Wick video game projects.
Lionsgate Studios Corp. (NYSE:LION) is a standalone, publicly traded content company following its separation from Lionsgate’s legacy structure. It operates across film, television, and digital content, using a deep and globally recognized IP portfolio to drive recurring revenue and long-term franchise value.
7. Americas Gold and Silver Corporation (NYSEAMERICAN:USAS)
Americas Gold and Silver Corporation (NYSEAMERICAN:USAS) is one of the best Canadian stocks to buy under $20. On February 10, Americas Gold and Silver Corporation entered into a definitive agreement with United States Antimony to form a joint venture to construct and operate an antimony processing plant in Idaho’s Silver Valley. The JV, owned 51% by Americas Gold and Silver and 49% by US Antimony, aims to create a vertically integrated ‘made in the USA’ solution for this critical mineral.
Americas Gold and Silver will provide the site at its Galena Complex and supply the antimony feedstock, while US Antimony will contribute technical expertise in facility construction, operations, and marketing. Financially, the agreement allows Americas Gold and Silver Corporation (NYSEAMERICAN:USAS) to capture market value for the antimony it mines and 51% of the downstream processing profits, which were previously unrealized under prior offtake terms.
US Antimony will have the right to purchase the finished product at market rates and intends to leverage its existing relationships with the US government to secure funding. The partnership follows a productive 2025, during which the Galena Complex produced 561,000 pounds of antimony, with production expected to ramp up further as the company shifts toward high-grade tetrahedrite ore.
Americas Gold and Silver Corporation (NYSEAMERICAN:USAS), together with its subsidiaries, explores, develops, and produces mineral properties in the Americas. The company explores for gold, silver, zinc, lead, and other by-products.
6. Taseko Mines Limited (NYSEAMERICAN:TGB)
Taseko Mines Limited (NYSEAMERICAN:TGB) is one of the best Canadian stocks to buy under $20. On February 19, Taseko Mines achieved record financial results for 2025, reporting its highest-ever quarterly revenue of $244 million in Q4 and annual revenue of $673 million. This performance was supported by the sale of 99 million pounds of copper at an average realized price of $4.61 per pound, alongside $25 million in molybdenum revenue for the final quarter.
Operational milestones were highlighted by the commencement of copper production at Florence Copper, where initial leaching results and flow rates have exceeded expectations. However, the company faced challenges at its Gibraltar mine, including a fatal accident involving a contract worker and unscheduled mill downtime that limited throughput. Furthermore, the Connector pit at Gibraltar encountered unexpected oxide and supergene ore, leading management to adopt a more conservative outlook on copper grades for the upcoming year.
For 2026, Taseko Mines Limited (NYSEAMERICAN:TGB) forecasts Gibraltar’s copper production to increase to between 110 and 115 million pounds, while Florence Copper is expected to contribute an additional 30 to 35 million pounds during its ramp-up phase. Beyond copper, the company is progressing with permitting for the Yellowhead project and conducting technical work on its niobium assets, while engaging in ongoing discussions regarding potential joint ventures.
Taseko Mines Limited (NYSEAMERICAN:TGB) is a mining company that acquires and develops mineral properties. It explores for copper, molybdenum, gold, niobium, and silver deposits.
5. Centerra Gold Inc. (NYSE:CGAU)
Centerra Gold Inc. (NYSE:CGAU) is one of the best Canadian stocks to buy under $20. On February 20, Centerra Gold reported full-year 2025 production of over 275,000 ounces of gold and 50 million pounds of copper, ending the year with a strong cash balance of $529 million. For Q4, the company achieved adjusted net earnings of $83 million, or $0.41 per share, and generated $12 million in free cash flow.
Strategic milestones included extending the Mount Milligan mine life to 2045 and securing permits through 2035. However, the company faced operational hurdles, such as an explosion at the Langeloth metallurgical facility that led to a temporary suspension and inventory build-up. Additionally, the Thompson Creek restart project saw a capital cost increase of 5% to 10% due to inflation and maintenance requirements.
For 2026, Centerra Gold Inc. (NYSE:CGAU) issued gold production guidance of 250,000 to 280,000 ounces and copper guidance of 50 million to 60 million pounds. Capital expenditure for the coming year is forecasted between $85 million and $105 million for sustaining capital, with non-sustaining investments estimated at $260 million to $350 million.
Centerra Gold Inc. (NYSE:CGAU) operates, develops, explores, and acquires gold and copper properties in North America, Turkey, and internationally. It also owns and operates a molybdenum business unit, which includes a metallurgical processing facility and two primary molybdenum properties.
4. Fortuna Mining Corp. (NYSE:FSM)
Fortuna Mining Corp. (NYSE:FSM) is one of the best Canadian stocks to buy under $20. On February 25, Fortuna Mining reported significant new exploration results from its Diamba Sud Gold Project in Senegal, headlined by high-grade intersections at the Southern Arc deposit. Notable drilling highlights include 6.0 g/t gold over 24.1 meters and 8.4 g/t gold over 10.4 meters. These results follow a recent 73% increase in the project’s Indicated Mineral Resource to 1.25 million ounces, with Southern Arc now established as the largest single deposit on the property, containing 367,000 gold ounces at an average grade of 1.9 g/t.
The exploration program, which included 44 holes totaling over 7,500 meters at Southern Arc, confirms that mineralization remains open at depth and along strike to the southwest and northeast. Most current drilling is relatively shallow at depths of less than 200 meters, suggesting substantial potential for further resource growth. Technical analysis reveals that gold mineralization is associated with hydrothermal breccias and carbonate units, characterized by fine stockwork vein arrays and extensive hematite alteration typical of the Diamba Sud project area.
Beyond Southern Arc, Fortuna Mining Corp. (NYSE:FSM) reported strong results from the Moungoundi, Area D, and Karakara prospects, including an exceptional hit of 46.3 g/t gold over 13.6 meters at Area D. The company is currently operating five drill rigs across the site to upgrade resource confidence and test for structural links between existing deposits.
Fortuna Mining Corp. (NYSE:FSM) engages in the precious and base metal mining and related activities in Argentina, Côte d’Ivoire, Mexico, Peru, and Senegal. The company operates through the Mansfield, Sango, and Bateas segments.
3. Bausch + Lomb Corporation (NYSE:BLCO)
Bausch + Lomb Corporation (NYSE:BLCO) is one of the best Canadian stocks to buy under $20. On February 18, Bausch + Lomb reported record financial results for Q4 2025, with revenue rising 7% to $1.405 billion and adjusted EBITDA growing 27% to $330 million. This brought full-year revenue to $5.101 billion, driven by strong gains across its diversified portfolio. The company’s pharmaceutical segment led the way with 14% quarterly growth, while the Vision Care division, led by an 8% increase in contact lens sales, remained the largest contributor at $778 million for the quarter.
The standout performer of the year was the dry eye treatment Miebo, which saw Q4 revenue surge 111% to $112 million. Management attributed this success to marketing investments and a high-performing field force, noting that the product is on a clear trajectory toward profitability despite seasonal fluctuations. The surgical segment also showed resilience, achieving 20% growth in premium intraocular lenses/IOL as the company continued to recover from a voluntary product recall earlier in the year.
Looking ahead to 2026, the company is focusing on operational execution and financial discipline to maintain its 23.5% adjusted EBITDA margin. While facing competitive pressures in the IOL and contact lens markets, Bausch + Lomb expects its daily SiHy lenses to continue outperforming the global market. Additionally, the pharmaceutical segment is poised for further growth as the company stabilizes net pricing for Xiidra, forecasting mid-single-digit sales growth for that treatment in the coming year.
Bausch + Lomb Corporation (NYSE:BLCO) is an eye health company in the US, Puerto Rico, China, France, Japan, Germany, the UK, Canada, Russia, Spain, Italy, Mexico, Poland, and internationally. It operates in three segments: Vision Care, Pharmaceuticals, and Surgical.
2. Equinox Gold Corp. (NYSEAMERICAN:EQX)
Equinox Gold Corp. (NYSEAMERICAN:EQX) is one of the best Canadian stocks to buy under $20. On February 19, Equinox Gold achieved record production in 2025, delivering 922,000 ounces of gold. The company reduced net debt from $1.4 billion in mid-2025 to just $75 million by the end of January 2026. Furthermore, the company was able to make $681.40 million in Q4 revenue, which was an 18.50% increase year-over-year.
The growth was driven by the ramp-up of the Greenstone and Valentine mines. Greenstone saw a 29% production increase in Q4 over the previous quarter, while Valentine completed its first quarter of operations with over 23,000 ounces. For 2026, management provided production guidance of 250,000 to 300,000 ounces for Greenstone and 150,000 to 200,000 ounces for Valentine, with all-in sustaining costs projected to range between $1,750 and $1,850 per ounce.
Despite these records, the company is managing several operational complexities, including audit delays related to the Calibre merger. Equinox Gold Corp. (NYSEAMERICAN:EQX) now plans to fund its organic growth pipeline—including potential expansions at Los Filos and Castle Mountain—using internal cash flow rather than pursuing further M&A.
Equinox Gold Corp. (NYSEAMERICAN:EQX) acquires, explores, develops, and operates mineral properties in the Americas. It primarily explores gold and silver deposits.
1. TELUS Corporation (NYSE:TU)
TELUS Corporation (NYSE:TU) is one of the best Canadian stocks to buy under $20. On February 12, TELUS reported record financial results for 2025, headlined by a full-year free cash flow of $2.2 billion, an 11% increase over the previous year. The company maintained its position as an industry leader in customer growth, adding 1.1 million mobile and fixed customers. Furthermore, TELUS achieved its 12th straight year of postpaid mobile phone churn below 1%, ending 2025 with a churn rate of 0.97%.
Despite strong customer additions, the company is navigating a highly competitive wireless environment characterized by irrational promotional tactics. While the telecom segment remains robust, the business saw a decline in fixed data revenue and a 5% year-over-year dip in TELUS Digital’s adjusted EBITDA.
In 2026, TELUS Corporation (NYSE:TU) is leaning heavily into high-growth areas, specifically AI-enabling capabilities, which saw revenue jump 44% in the final quarter. The company’s plan focuses on achieving double-digit EBITDA growth within its digital and telehealth divisions while continuing to extract synergies from its LifeWorks integration.
TELUS Corporation (NYSE:TU), together with its subsidiaries, operates as a telecommunications company in Canada and internationally. It operates through TELUS Technology Solutions, TELUS Health, and TELUS Digital Experience segments.
While we acknowledge the potential of TU to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TU and that has 100x upside potential, check out our report about this cheapest AI stock.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.
