In this article, we will discuss the 10 Best Canadian Stocks Under $10 to Buy Now.

On May 1, Theresa Shutt, CIO at Harbourfront Wealth Management, appeared on BNN Bloomberg to discuss the current state of Canadian and global markets. She observed a shift in market psychology, particularly regarding the performance of major tech companies. While Microsoft exceeded expectations, Shutt highlighted Meta as an outlier. This decline was driven by Meta’s CapEx outlook, which is projected to reach $145 billion (an 80% jump from 2025), prompting JPMorgan to downgrade the stock. Shutt explained that the market is now focusing on monetization rather than the rising tide lifts all boats theory, noting that Meta’s reliance on cyclical advertising revenue makes it vulnerable during economic slowdowns, unlike more diversified AI plays.

Discussing the broader tech environment, where hyperscalers are accelerating spending despite rising input costs exacerbated by conflict in Iran and supply chain disruptions, Shutt noted that while the tech index is down, specific beneficiaries are emerging, including power companies, data centers, copper producers, and chip manufacturers. She emphasized that the market is finally moving away from a short-term party atmosphere toward a more bifurcated view that distinguishes between long-term winners and losers. Shutt also observed that bonds have been volatile and have not performed as well under current leadership, yet they remain a necessary part of a portfolio for diversification across geographies and credit types. However, she warned that the correlation between bonds and equities is becoming increasingly positive in the high-rate environment. Consequently, she advocated for considering alternative asset classes like private equity or hedge funds.

Our Methodology

We used stock screeners to identify Canadian stocks with a share price below $10, 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 are ranked in ascending order of the number of hedge funds that have stakes in them, as of Q4 2025. We considered Canadian-based companies trading under $10 on major U.S. exchanges, regardless of where their main operations are located.

Note: All data was sourced on May 11. 

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 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).

10 Best Canadian Stocks Under $10 to Buy Now

10. Vizsla Silver Corp. (NYSEAMERICAN:VZLA)

Number of Hedge Fund Holders: 14

Vizsla Silver Corp. (NYSEAMERICAN:VZLA) is one of the best Canadian stocks under $10 to buy now. On April 24, Vizsla Silver reached a significant milestone for its Panuco silver-gold project in Sinaloa, Mexico, by awarding two major contracts. M3 Engineering & Technology has been selected for the engineering, procurement, and construction management/EPCM of the process plant and surface infrastructure, a contract valued at ~$170 million. Simultaneously, Mining Plus has been appointed to handle mine design, continuing a partnership that began following the project’s preliminary economic assessment in 2024.

The project is backed by a $220 million finance mandate from Macquarie Bank, ensuring the necessary capital for development. The scope of work involving M3 Engineering includes off-site detailed design and equipment procurement, while Mining Plus will oversee geotechnical work, scheduling, and ore development. This phase involves a projected $50 million in development capital and $40 million for ore development during the two-year pre-production period.

Current activities remain on schedule, with the mining contract expected to be awarded in Q2 2026. Operations are set to commence once the MIA environmental permit is secured, supported by a two-year infill drilling program to prepare for plant commissioning. Leadership from all involved firms expressed confidence in the technical expertise being applied to transition the high-grade Panuco project toward commercial production.

Vizsla Silver Corp. (NYSEAMERICAN:VZLA) is a mineral exploration & development company that acquires, explores, and develops mineral resource properties, including a silver-gold project in Sinaloa, Mexico.

9. Lightspeed Commerce Inc. (NYSE:LSPD)

Number of Hedge Fund Holders: 15

Lightspeed Commerce Inc. (NYSE:LSPD) is one of the best Canadian stocks under $10 to buy now. On May 7, Lightspeed Commerce appointed Bhawna Singh as Chief Technology Officer to accelerate the company’s AI roadmap and global engineering strategy. Singh brings over 25 years of experience from leadership roles at Okta and Glassdoor, where she specialized in scaling global platforms and modernizing complex systems. Working alongside Chief Product Officer John Shapiro, she will focus on integrating conversational AI assistants and ensuring the platform can scale to meet the increasingly complex needs of merchants.

On the retail front, the company has introduced several AI-driven enhancements to streamline inventory and wholesale management. A new integration with Faire allows for automatic syncing of product data, while an AI-powered Optical Character Recognition/OCR tool automates inventory entry to improve accuracy. Additionally, Lightspeed launched personalized brand recommendations within its Marketplace and updated its mobile scanner to provide sales staff with real-time access to promotions and item history during customer interactions.

In the hospitality sector, Lightspeed Commerce Inc. (NYSE:LSPD) has debuted an AI Menu Import tool that digitizes physical or sketched menus into organized digital formats, significantly reducing manual setup time. The update also includes a new promotion engine for the “Order Anywhere” platform, a redesigned PoS navigation system for improved efficiency, and the expansion of Mobile Tap to Quebec.

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. Americas Gold & Silver Corporation (NYSEAMERICAN:USAS)

Number of Hedge Fund Holders: 19

Americas Gold & Silver Corporation (NYSEAMERICAN:USAS) is one of the best Canadian stocks under $10 to buy now. On April 30 Americas Gold & Silver announced a major new discovery at its Galena Complex, identifying six high-grade silver-copper-antimony veins. Located within the 43L-TJ Vein Complex, these splays were found ~150 meters southwest of the previously discovered 149 Vein and sit just 25 meters from existing mine infrastructure. Notable drilling results from Q1 2026 include high-grade intercepts such as 1,392 g/t silver, 1.5% copper, and 1.5% antimony over a true width of 1.9 meters.

Chairman and CEO Paul Andre Huet highlighted that this is the company’s fourth significant discovery within a single year of drilling, showing the untapped potential of the Idaho-based assets. The proximity to current infrastructure is expected to facilitate rapid development, similar to the 034 Vein discovery from mid-2025. To capitalize on these findings, the team is currently planning an exploration drift and follow-up drilling to better define the structural controls of the mineralization.

The discovery reinforces the Galena Complex’s position as one of the world’s highest-grade silver operations. Americas Gold & Silver Corporation (NYSEAMERICAN:USAS) intends to focus aggressively on expanding this new zone throughout 2026, aiming to fast-track future production from the 4300 level. With a strong exploration budget and established site infrastructure, the 43L-TJ Vein remains wide open for further expansion following these successful infill and step-out drilling efforts.

Americas Gold & Silver Corporation (NYSEAMERICAN:USAS) is a mining company producing silver, copper, and antimony from high-grade operations in the US and Mexico. With a focus on scaling US silver output and serving as a key domestic supplier of antimony, the company offers leveraged exposure to both precious metals and critical mineral demand trends.

7. Baytex Energy Corp. (NYSE:BTE)

Number of Hedge Fund Holders: 21

Baytex Energy Corp. (NYSE:BTE) is one of the best Canadian stocks under $10 to buy now. On May 7, Baytex Energy announced financial and operational results for Q1 2026, headlined by a production average of 69,478 boe/d that exceeded the high end of its quarterly guidance. This performance, particularly within the heavy oil portfolio, prompted the company to increase its 2026 annual production guidance to a range of 69,000 to 71,000 boe/d and raise its targeted annual growth rate to 7%. Financially, Baytex generated $151 million in adjusted funds flow and maintained a strong balance sheet with $591 million in net cash.

A significant leadership transition was also finalized, with Chad Lundberg officially assuming the role of President and CEO. Under this new leadership, Baytex nearly doubled its 3-year growth outlook, now targeting annual production increases of 6% to 8% through 2028. Strategic priorities include reaching full-scale development in the Pembina Duvernay and advancing the Gemini thermal SAGD project toward a potential investment decision in 2027.

Operational highlights from the quarter include the successful drilling of seven discrete horizons at Lloydminster and outperformance at Peavine, where initial production rates exceeded expectations. Baytex Energy Corp. (NYSE:BTE) also expanded its footprint by acquiring 40 sections of prospective land in the Peace River region. The company now plans to increase its activity in H2 2026 by bringing ~100 net heavy oil wells and 13 Duvernay wells onstream, supported by a disciplined exploration and development budget of ~$625 million.

Baytex Energy Corp. (NYSE:BTE) is a Calgary‑based energy company focused on acquiring, developing, and producing crude oil and natural gas, primarily in the Western Canadian Sedimentary Basin, driving shareholder value through disciplined execution and high‑return oil‑weighted operations.

6. TMC The Metals Company Inc. (NASDAQ:TMC)

Number of Hedge Fund Holders: 21

TMC The Metals Company Inc. (NASDAQ:TMC) is one of the best Canadian stocks under $10 to buy now. On May 11, The Metals Company and Allseas signed a commercial agreement for the development and operation of the first commercial nodule recovery system in the Clarion Clipperton Zone of the Pacific Ocean. Building on a strategic alliance formed in 2019 and a successful 2022 pilot test, Allseas will complete the procurement and integration of the production system.

This agreement establishes a clear commercial framework for commissioning and operations, with Allseas funding a significant portion of development costs to be recovered through future production revenues. The offshore production system is designed with a nameplate capacity of 3.0 million wet tonnes per annum, using two collector vehicles operating at depths of four kilometers. These vehicles will deliver nodules through a riser system to the surface production vessel, Hidden Gem, before the resources are transferred to bulk carriers for transport to designated ports.

Allseas has already completed conceptual and basic engineering for critical long-lead items, including the riser pipe, umbilical, and Launch and Recovery Systems. TMC The Metals Company Inc. (NASDAQ:TMC) expects to commence subcontract awards by the end of Q3 2026, with system commissioning slated to begin in Q4 2027.

TMC The Metals Company Inc. (NASDAQ:TMC) is a deep-sea minerals exploration company focused on the collection and processing of polymetallic nodules found on the seafloor in international waters of the Pacific Ocean.

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