In this article, we will look at the 10 Best Performing Canadian Stocks So Far in 2026.

Canadian stocks have moved back into the conversation as investors look beyond the narrow U.S. mega-cap trade and toward markets with more exposure to commodities and hard assets.

Fidelity Investments Canada says it has “moved to overweight Canadian equities,” arguing that “Higher commodity prices are clearly bullish for Canadian equities.” The firm also says conditions are the “most conducive in memory” for positive relative performance of Canadian assets. TD Asset Management makes a similar but more measured point, saying Canadian equities have “demonstrated relative resilience year-to-date” and that “Canadian equity valuations remain reasonable.” RBC Global Asset Management adds that Canadian equities are “poised to benefit from robust earnings growth,” although it also flags “trade uncertainty” as a reason to stay careful. In summary, the best performing Canadian stock trades are not just about chasing performance. It is also about where earnings, commodities, and valuation support are lining up.

Against this backdrop, the best-performing Canadian stocks so far in 2026 are worth a closer look. With that in mind, let’s take a look at the 10 Best Performing Canadian Stocks So Far in 2026.

Our Methodology

We used the Finviz screener to identify Canadian stocks that rallied by at least 20% year-to-date. We then 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.

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. Pembina Pipeline Corporation (NYSE:PBA)

On May 18, 2026, Citi analyst Spiro Dounis downgraded Pembina Pipeline Corporation (NYSE:PBA) to Neutral from Buy while raising the firm’s price target to C$70 from C$63. Citi said the downgrade was driven primarily by valuation following the stock’s recent rally, with the firm now seeing a more balanced risk/reward profile at current levels.

On May 13, 2026, Pembina Pipeline Corporation (NYSE:PBA) announced that the Toronto Stock Exchange approved the renewal of its normal course issuer bid, or NCIB, allowing the company to repurchase up to 5% of its outstanding common shares. The renewed program began on May 19, 2026, and will run through May 18, 2027, unless completed or terminated earlier. Based on the company’s 581.4 million shares outstanding as of May 5, Pembina is authorized to repurchase up to 29.1 million shares, which would be cancelled upon purchase.

On May 11, 2026, RBC Capital raised the firm’s price target on Pembina Pipeline Corporation (NYSE:PBA) to C$68 from C$64 and maintained an Outperform rating on the shares.

Pembina Pipeline Corporation (NYSE:PBA) provides energy transportation and midstream services through its Pipelines, Facilities, and Marketing & New Ventures segments.

9. Sprott Inc. (NYSE:SII)

On May 7, 2026, TD Securities analyst Graham Ryding raised the firm’s price target on Sprott Inc. (NYSE:SII) to C$205 from C$190 previously and maintained a Hold rating on the shares after Sprott Inc. (NYSE:SII) disclosed its first-quarter financial and operational results.

On May 6, 2026, Sprott Inc. (NYSE:SII) reported Q1 EPS of $2.25, versus the consensus estimate of 93c. Revenue totaled $142.95 million, versus the consensus estimate of $107.28 million. Chief Executive Officer Whitney George said assets under management climbed to $65.1 billion as of March 31, 2026, compared to $59.6 billion at the end of 2025, representing a 9% increase during the quarter. George added that while gold and silver prices experienced heightened volatility after reaching new highs earlier in the quarter, the broader long-term fundamentals supporting precious metals remain intact. The company’s management also highlighted the strong performance from Sprott’s critical materials strategies, which accounted for 96% of net sales across 13 different funds during the period.

Sprott Inc. (NYSE:SII) is an asset management company providing portfolio management, wealth management, fund management, and advisory services.

8. TC Energy Corporation (NYSE:TRP)

On May 4, 2026, RBC Capital raised the firm’s price target on TC Energy Corporation (NYSE:TRP) to C$95 from C$92 and maintained an Outperform rating on the shares. RBC said the company’s in-line Q1 results and reaffirmed near-term guidance continue to support its broader growth thesis. The firm also pointed to the sanctioning of the Appalachia Supply Project and oversubscribed open seasons at Crossroads and Columbus as signs of growing demand tied to power generation and data center infrastructure in key growth regions.

Barclays also raised its price target on TC Energy Corporation (NYSE:TRP) to C$92 from C$88 and kept an Overweight rating on the shares. The firm noted that while TC Energy continues to expand both its sanctioned and potential project backlog, the latest earnings update also prompted some investor questions around expected returns and the pace of future earnings growth.

Earlier in May, TC Energy Corporation (NYSE:TRP) reported Q1 comparable EPS of C$0.99, compared to C$0.95 in the prior-year period. Comparable EBITDA rose to C$3.1B from C$2.7B a year earlier. CEO Francois Poirier said the company entered 2026 with strong momentum, highlighted by its best safety performance in six years and multiple delivery records across North America. Management said comparable EBITDA increased 14% year over year while segmented earnings rose 10%. Poirier also announced the Appalachia Supply Project, a US$1.5B expansion tied to the Columbia Gas system that is expected to strengthen TC Energy’s position in a fast-growing power and industrial corridor. The company added that customer demand remains strong, noting that the recent Crossroads open season was oversubscribed by 2.5 times, supporting visibility into long-term project growth opportunities.

TC Energy Corporation (NYSE:TRP) operates energy infrastructure assets across Canada, the United States, and Mexico.

7. Teck Resources Limited (NYSE:TECK)

On May 15, 2026, Deutsche Bank raised the firm’s price target on Teck Resources Limited (NYSE:TECK) to $62 from $60 previously and maintained a Buy rating on the shares.

JPMorgan also increased its price target on Teck Resources Limited (NYSE:TECK) to $48 from $45 previously while keeping a Neutral rating on the shares.

Last month, Teck Resources Limited (NYSE:TECK) reported Q1 adjusted EPS of C$1.75, compared to C$0.60 in the prior-year period. Revenue rose to C$3.94B from C$2.29B a year earlier. President and CEO Jonathan Price said the company delivered a strong start to 2026, driven by record quarterly copper sales, favorable commodity pricing, and steady operational execution across the portfolio. Management highlighted particularly strong performance from the Quebrada Blanca operation, which achieved record quarterly copper sales alongside continued operating stability. Price added that the quarter underscored both the resilience of Teck’s asset portfolio and the strength of its balance sheet as the company continues working toward completing its proposed merger of equals with Anglo American.

Teck Resources Limited (NYSE:TECK) is a diversified mining company involved in the exploration, development, processing, refining, and reclamation of mineral properties globally.

6. TFI International Inc. (NYSE:TFII)

On May 4, 2026, BMO Capital raised the firm’s price target on TFI International Inc. (NYSE:TFII) to $140 from $115 and maintained a Market Perform rating on the shares as part of a broader transportation sector update. The firm said improving freight demand trends are beginning to emerge, supported by leading indicators, commentary from transportation and industrial companies during Q1 earnings season, and improving shipment volume and weight trends across the less-than-truckload sector. BMO added that those factors led it to raise estimates and price targets across the transportation group.

Last month, TFI International Inc. (NYSE:TFII) reported Q1 adjusted EPS of 69c, versus the consensus estimate of 61c. Revenue totaled $1.95B, versus the consensus estimate of $1.9B. Bedard said stronger revenue and profitability in the Truckload and Logistics segments helped the company exceed its quarterly earnings outlook despite weather-related disruptions early in the quarter. Management also said acquisitions completed during the freight downturn have strengthened the company’s diversified industrial exposure and are beginning to contribute more meaningfully to results. Bedard added that TFI continues to prioritize efficiency, free cash flow generation, disciplined capital allocation, and shareholder returns as freight market conditions improve.

TFI International Inc. (NYSE:TFII) provides transportation and logistics services across the United States, Canada, and Mexico.

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