In this article, we will discuss 10 High Growth Canadian Stocks to Buy Now.
For more than a decade, U.S. equities have been the default destination for global investors. Fueled by mega-cap technology, strong earnings growth, and deep capital markets, American stocks consistently outperformed much of the world. But in 2025, that long-running leadership is beginning to face real questions. Valuations remain elevated relative to many international peers, concentration risk in a handful of dominant names has increased, and history suggests that no market leadership cycle lasts forever. When sentiment and valuations become stretched, capital often starts searching for the next source of returns.
That shift is one reason international markets are drawing renewed attention—and Canada stands out as a particularly compelling candidate. Unlike the U.S., where indexes are heavily tilted toward technology and consumer giants, Canada offers exposure to a more diversified mix of industries, including financials, energy, materials, industrials, and infrastructure. These sectors can perform differently across market cycles, giving investors a way to diversify away from crowded U.S. themes while still accessing high-quality public companies in a developed market.
Canada also brings structural advantages that are increasingly relevant today. The country is rich in natural resources, closely tied to North American trade flows, and positioned to benefit from long-term themes such as energy security, critical minerals demand, infrastructure spending, and industrial reshoring. If the U.S. dollar weakens or global leadership broadens beyond American mega-caps, Canadian equities could become an overlooked beneficiary.
But diversification alone is not enough. In any market, growth remains one of the most powerful drivers of long-term returns. Companies that have delivered average earnings-per-share (EPS) growth above 20% over the past three years often signal something deeper than short-term momentum: expanding margins, operational discipline, pricing power, and durable competitive advantages. Sustained earnings growth can attract institutional capital, support valuation expansion, and create the kind of compounding that drives outsized shareholder returns over time.
There is also a “follow the smart money” angle investors should not ignore. Hedge funds commit enormous analytical resources to identifying mispriced opportunities, and their highest-conviction positions often reflect deep fundamental research rather than passive market exposure. When institutional investors are building stakes in Canadian companies with strong earnings momentum, it can signal that broader markets have yet to fully recognize the opportunity.
Put it all together, and the setup becomes increasingly attractive: a developed market trading outside the most crowded U.S. trade, sector exposure aligned with major macro trends, and companies still delivering robust profit growth. In this article, we’ll take a closer look at Canadian growth stocks with strong hedge fund interest and identify which names may be best positioned to outperform in the years ahead.
With this context in mind, here is a list of the 10 high growth Canadian stocks to buy now.
Our Methodology
We used screeners to identify Canadian stocks with market caps over $2 billion and expected EPS growth of at least 30% over the next 5 years. Our list also includes some Canadian-American companies. We 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. We have ranked the stocks in ascending order of their expected EPS growth percentage for the next five years to make the list easier to navigate.
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 High Growth Canadian Stocks to Buy Now
10. Shopify Inc. (NASDAQ:SHOP)
Expected 5-year EPS Growth: 32.90%
On April 9, bearish options flow was noted in Shopify Inc. (NASDAQ:SHOP), with 12,004 puts trading, roughly four times normal volume. The most active contracts were May $80 puts and weekly May $75 puts, while the put/call ratio climbed to 5.19. Although some traders appear cautious ahead of earnings expected on May 7, heavy short-term hedging activity often emerges around high-profile growth names and can create attractive entry points for long-term investors. Volatility around earnings frequently reflects uncertainty rather than deterioration in fundamentals, and Shopify has repeatedly demonstrated an ability to outperform expectations over time.
On April 6, Wells Fargo lowered its price target on Shopify Inc. to $166 from $191 while maintaining an Overweight rating. Importantly, the firm reiterated confidence that “agentic commerce” — AI-powered automated shopping and selling experiences — will become a meaningful growth driver, with Shopify positioned as one of the prime beneficiaries. That view highlights the company’s strategic advantage as merchants increasingly adopt AI tools for storefront creation, customer service, logistics, and conversion optimization.
Shopify Inc. is one of the world’s leading cloud-based commerce platforms, enabling millions of merchants to build, customize, and scale online businesses across web, mobile, social media, and physical retail channels. Founded in 2006 and headquartered in Ottawa, Canada, the company has evolved from a website builder into a full-scale commerce ecosystem spanning payments, fulfillment, advertising, lending, and enterprise solutions.
9. GFL Environmental Inc. (NYSE:GFL)
Expected 5-year EPS Growth: 33.44%
On April 15, Citi lowered its price target on GFL Environmental Inc. (NYSE:GFL) to $51 from $55 but maintained a Buy rating, noting that shares appeared oversold after falling roughly 10% following the announced Secure Waste Infrastructure acquisition. That reaction suggests the market may have focused too heavily on short-term uncertainty while overlooking the long-term strategic benefits of the transaction.
The day before, JPMorgan downgraded GFL Environmental Inc. to Underweight, citing leverage concerns and valuation relative to peers after the acquisition announcement. While those concerns are worth monitoring, they often emerge whenever acquisitive companies pursue transformative deals. In many cases, near-term skepticism creates compelling opportunities for patient investors if management successfully integrates the acquired assets and captures synergies.
GFL Environmental Inc. is a diversified environmental services leader operating across solid waste management, liquid waste, soil remediation, and infrastructure services. Founded in 2007, the company has grown into a major North American operator through a combination of acquisitions and organic expansion. Originally founded in Vaughan, Ontario, GFL relocated its executive headquarters to Miami Beach, Florida, in early 2026.
8. Equinox Gold Corp. (NYSEAMERICAN:EQX)
Expected 5-year EPS Growth: 33.99%
On April 9, Equinox Gold Corp. (NYSEAMERICAN:EQX) reported first-quarter production of 197,628 ounces of gold and provided updates on its two cornerstone Canadian assets: Greenstone in Ontario and Valentine in Newfoundland & Labrador. The company expects Canadian production to be weighted toward the second half of the year as those mines continue ramping up, supported by steady output from Nicaragua, Brazil, Mesquite, and Castle Mountain.
On March 30, Equinox Gold Corp. released updated technical reports projecting combined annual Canadian gold production of roughly 543,000 ounces from 2026 through 2036 at Greenstone and Valentine based solely on Proven and Probable reserves. It also disclosed an enormous resource base: 19 million ounces in Mineral Reserves, 19 million ounces in Measured and Indicated Resources excluding reserves, and another 11 million ounces in Inferred Resources. That scale gives the company substantial long-term optionality.
At Greenstone, Equinox Gold Corp. is ramping toward nameplate capacity of 27,000 tonnes per day with a target of approximately 320,000 ounces annually over the next decade. Valentine is preparing a Phase 2 expansion that could double plant throughput and support average annual production of around 223,000 ounces. Combined, these assets could transform Equinox into a premier large-scale Canadian gold producer.
Equinox Gold Corp., headquartered in Vancouver, was formed in 2017 through a merger of Trek Mining, NewCastle Gold, and Anfield Gold. Since then, management has aggressively built a diversified Americas-focused gold platform.
7. Bausch + Lomb Corporation (NYSE:BLCO)
Expected 5-year EPS Growth: 39.78%
On April 16, Bausch + Lomb Corporation (NYSE:BLCO) announced that its ONE by ONE Recycling program, developed in collaboration with TerraCycle, has now collected and recycled more than 119.7 million units of used contact lenses, eye care products, and lens care materials in the United States. That milestone highlights the company’s growing leadership in sustainability and customer engagement, areas that increasingly matter to both consumers and institutional investors. Programs like this can strengthen brand loyalty while differentiating Bausch + Lomb in a competitive healthcare market.
Earlier, on April 8, Bausch + Lomb Corporation announced that the U.S. Food and Drug Administration granted 510(k) clearance for the Bi-Blade+ advanced dual-port vitrectomy cutter and the Adaptive Fluidics advanced update for the Stellaris Elite Vision Enhancement System. These approvals reinforce Bausch + Lomb’s innovation pipeline in surgical ophthalmology, where new technologies can drive premium pricing and deepen surgeon adoption.
Bausch + Lomb Corporation was founded in 1853 and is headquartered in Vaughan, Canada, the company develops, manufactures, and markets a broad portfolio of contact lenses, lens care solutions, ophthalmic pharmaceuticals, surgical devices, and vision-care products. Its scale and trusted brand provide meaningful competitive advantages in a steadily growing healthcare category driven by aging populations and rising rates of myopia and dry eye disease.
6. Celestica Inc. (NYSE:CLS)
Expected 5-year EPS Growth: 41.22%
On April 16, JPMorgan raised its price target on Celestica Inc. (NYSE:CLS) to $410 from $360 and maintained an Overweight rating. The firm expects continued upside from AI infrastructure spending across servers, networking switches, copper interconnects, and optical connectivity solutions. That is a powerful endorsement because Celestica has become increasingly leveraged to one of the strongest spending cycles in technology: hyperscale data center and AI infrastructure expansion.
Earlier, on March 25, Celestica Inc. announced leadership changes as Chair Michael Wilson prepared to retire, with current President and CEO Rob Mionis set to assume the chair role. The company also appointed David Reeder, CEO of Entegris, to its board. These moves suggest confidence in strategic continuity while adding semiconductor and advanced manufacturing expertise at a critical time for the business. Strong governance and experienced leadership can be meaningful advantages during periods of rapid growth.
Celestica Inc. is a Canadian multinational electronics manufacturing services provider headquartered in Toronto and founded in 1994. The company offers design, engineering, manufacturing, hardware platform, and supply-chain solutions to some of the world’s largest technology and industrial customers. While historically known as a contract manufacturer, Celestica has steadily transformed into a higher-value solutions provider with exposure to aerospace, defense, healthcare, industrial automation, and especially data center hardware.
What makes Celestica Inc. especially compelling today is its growing role in AI infrastructure. As cloud giants and enterprises race to build next-generation compute networks, they need sophisticated hardware partners capable of delivering complex systems at scale. Celestica is increasingly filling that role. With rising margins, expanding AI exposure, strong analyst support, and a proven ability to execute, Celestica appears well-positioned for continued upside and remains one of the more attractive picks in the hardware space.
5. Alamos Gold Inc. (NYSE:AGI)
Expected 5-year EPS Growth: 41.28%
On April 8, Canaccord raised its price target on Alamos Gold Inc. (NYSE:AGI) to C$80 from C$72 and maintained a Buy rating following strong fourth-quarter results. The company delivered record EBITDA, all-in sustaining cost margins, and free cash flow, benefiting from higher gold prices and disciplined operating execution. Those metrics are particularly important because they show Alamos is not merely riding commodity prices — it is converting favorable conditions into real shareholder value.
Earlier, on February 26, BofA also raised its price target on Alamos Gold Inc. to $57 from $48 while maintaining a Buy rating after revising metal price forecasts higher for 2026. Dual analyst upgrades reinforce the market’s view that Alamos is among the better-positioned North American gold producers.
The investment case for Alamos Gold Inc. is compelling because it combines production growth with financial discipline. Island Gold’s expansion is expected to materially increase output while lowering unit costs, potentially driving margin expansion even if gold prices remain stable. If gold prices continue rising amid inflation concerns, central bank buying, or geopolitical uncertainty, Alamos could benefit disproportionately due to its strong operating leverage.
Unlike many miners that struggle with debt or cost overruns, Alamos has built a reputation for prudent management, balance-sheet strength, and consistent execution. For investors seeking exposure to precious metals with lower operational risk and meaningful upside potential, Alamos Gold stands out as an excellent high growth Canadian stock to buy now.
Alamos Gold Inc. is a Canadian-based mid-tier producer focused on gold exploration, development, and mining, with operations in Canada and Mexico. Founded in 2003 and headquartered in Toronto, the company’s key assets include the Island Gold and Young-Davidson mines in Canada as well as the Mulatos district in Mexico. These are high-quality, long-life assets located in relatively attractive mining jurisdictions.
4. Boyd Group Services Inc. (NYSE:BGSI)
Expected 5-year EPS Growth: 46.55%
On April 14, Stephens lowered its price target on Boyd Group Services Inc. (NYSE:BGSI) to $157 from $200 while keeping an Overweight rating. The firm adjusted estimates to reflect storm-related softness in Q1 and current expectations around the Joe Hudson acquisition completed in January. Importantly, the positive rating signals continued confidence that Boyd can grow through temporary industry noise.
Earlier, on April 3, Goldman Sachs lowered its price target on Boyd Group Services Inc. to $165 from $172 while maintaining a Neutral rating, citing caution on the pace of recovery in the collision repair industry. While near-term industry demand may fluctuate, deferred repairs and long-term vehicle complexity trends often support stronger future demand.
The investment case for Boyd Group Services Inc. is built around scale, consolidation, and recurring demand. Auto accidents are an unfortunate but consistent reality, and modern vehicles are becoming more technologically advanced and expensive to repair. That favors large, sophisticated operators like Boyd that can handle ADAS calibrations, insurer relationships, and national service standards.
Boyd Group Services Inc. is a leading North American operator of non-franchised collision repair centers and auto glass businesses. Founded in 1990 and headquartered in Winnipeg, Manitoba, the company operates under well-known brands including Gerber Collision & Glass in the U.S. and Boyd Autobody & Glass / Assured Automotive in Canada. It also owns Gerber National Claims Services, a third-party administrator serving insurers.
3. Lionsgate Studios Corp. (NYSE:LION)
Expected 5-year EPS Growth: 48.94%
On April 16, Baird analyst Vikram Kesavabhotla raised the firm’s price target on Lionsgate Studios Corp. (NYSE:LION) to $14 from $12 while maintaining an Outperform rating. The updated target reflects growing confidence following changes to the CEO’s employment agreement and continued progress as a standalone content company.
Earlier, on March 23, Citi analyst Jason Bazinet raised his price target to $11 from $9 and kept a Buy rating. Citi noted that investors may increasingly evaluate Lionsgate Studios Corp. through a strategic lens following the Starz separation and elimination of the dual-class share structure. The firm’s transaction analysis suggested Lionsgate could be worth $13.50 per share in a sale scenario, implying meaningful upside from prior trading levels.
In a media world hungry for proven franchises and evergreen libraries, Lionsgate Studios Corp.’s content portfolio could become increasingly valuable. The company also benefits from recurring licensing revenue and optional upside from new theatrical hits or streaming deals. For investors seeking a turnaround and potential acquisition story with real underlying assets, Lionsgate Studios looks like an intriguing high growth Canadian stock to buy now.
Lionsgate Studios Corp. is a major Canadian-American entertainment company operating as a pure-play film and television content producer. Since May 2024, it has traded separately following its spin-off from Starz Entertainment, though Starz remains a significant shareholder. Headquartered in Santa Monica, California, Lionsgate owns one of the industry’s most valuable content libraries and franchises, including globally recognized film and television brands.
2. Eldorado Gold Corporation (NYSE:EGO)
Expected 5-year EPS Growth: 52.13%
On April 15, BMO Capital analyst Brian Quast lowered the firm’s price target on Eldorado Gold Corporation (NYSE:EGO) to C$82 from C$98 while maintaining an Outperform rating. Although the target was reduced, the continued bullish rating suggests confidence in Eldorado’s long-term value proposition despite recent market volatility. Analysts often trim targets to reflect commodity price swings, project timing, or broader market multiples rather than deterioration in the core business.
The day before, TD Securities lowered its price target on Eldorado Gold Corporation to $40 from $45 and kept a Hold rating, citing concerns that the Foran Mining transaction appeared relatively expensive and near-term dilutive. While acquisitions can pressure sentiment initially, they can also strengthen future production pipelines and reserve bases when executed strategically. Investors focused solely on short-term dilution may be overlooking the long-term benefits of asset expansion and optionality.
For investors bullish on gold and copper, Eldorado provides an attractive blend of precious-metals exposure, geographic diversification, and project upside. If gold prices remain elevated and Skouries progresses smoothly, the stock could see substantial re-rating potential. With a growing production base and long-life assets, Eldorado Gold appears to be an appealing mining stock to buy for long-term upside.
Eldorado Gold Corporation is a Canadian mining company that explores, develops, and operates gold and base metal mines with primary assets in Canada, Turkey, and Greece. Founded in April 1992 and headquartered in Vancouver, British Columbia, the company owns a diversified portfolio including Lamaque, Kisladag, Olympias, Efemcukuru, and the highly important Skouries project in Greece.
1. TransAlta Corporation (NYSE:TAC)
Expected 5-year EPS Growth: 55.02%
On April 16, CIBC analyst Mark Jarvi lowered the firm’s price target on TransAlta Corporation (NYSE:TAC) to C$24 from C$25 while maintaining an Outperformer rating. The small target reduction paired with a bullish rating indicates that analysts still see meaningful upside in the shares despite near-term market adjustments.
On March 24, National Bank upgraded TransAlta Corporation to Outperform from Sector Perform with a C$22 price target, citing the company’s potential for double-digit growth through 2029. The firm pointed to net load growth in Alberta, a recovery in power prices toward the mid-$80s per megawatt hour, and expected progress on the Keephills power plant as major catalysts. It also sees opportunity in coal-to-gas conversions beginning in 2026.
Unlike many pure renewable plays that still struggle with profitability, TransAlta Corporation combines clean-energy growth with established cash-generating assets. This gives management flexibility to return capital, reduce debt, and invest in new projects. For investors seeking income potential, energy transition exposure, and undervalued utility-style cash flow, TransAlta appears to be a strong stock to buy.
TransAlta Corporation is a major Canadian electricity producer that develops, owns, and operates a diversified portfolio of hydro, wind, solar, battery storage, and natural gas generation assets. Incorporated in 1909 and headquartered in Calgary, Alberta, the company has spent years repositioning itself away from coal and toward cleaner, more efficient energy sources.
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