On February 23, Pierre Ouimet, head investment strategist at UBS Canada, joined BNN Bloomberg to discuss market resilience and a diversification strategy amid ongoing tariff tensions between the US administration and the Supreme Court. Ouimet expressed surprise at the market’s lack of reaction to the recent uncertainty. He argued that political events like the expected Supreme Court ruling and potential $200 billion Treasury payout do not change his investment perspective, despite the bond market’s surprising lack of reaction. Regarding his diversification strategy, Ouimet revealed that UBS Canada began reducing exposure to US dollar-denominated assets last year, a move that he considers wise as the US dollar has come under pressure. He advocated for repatriating capital to Canada or investing in jurisdictions like Europe to ensure fingers in multiple pies.
While he remains selective in the tech sector, he expressed a strong interest in the resource sector. He identified energy and mining, particularly gold and base metals, as undervalued areas with high free cash flow yields and soaring EBITDA. He views gold as a haven asset, comparable to the Swiss franc, especially in the current uncertain climate. Ouimet also discussed the rapid evolution of AI. He noted that the current weakness in software stocks represents a reiteration of the AI theme, which remains buoyant overall. He argued that AI’s impact on productivity is likely to keep profit margins at record levels. He observed a fight between labor and capital, where capital is winning, leading to stronger earnings as return on capital increases while labor continues to struggle.
That being said, we’re here with a list of the 10 most promising Canadian stocks according to analysts.
Our Methodology
We used screeners to identify promising Canadian stocks with an average upside potential of at least 30%, 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 March 3.
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 Most Promising Canadian Stocks According to Analysts
10. BTQ Technologies Corp. (NASDAQ:BTQ)
BTQ Technologies Corp. (NASDAQ:BTQ) is one of the most promising Canadian stocks according to analysts. On February 24, BTQ Technologies announced a partnership between QPerfect and SDT Inc. to integrate the MIMIQ high-performance virtual quantum computer into the QUREKA hybrid quantum platform. This collaboration establishes a new cloud-based quantum emulation service, with SDT managing the customer-facing operations while QPerfect maintains the back end within a secure European environment.
The service, which officially went live on February 1, aligns with BTQ Technologies’ ongoing efforts to acquire full ownership of QPerfect, pending final closing conditions and regulatory approvals. The integration of MIMIQ allows QUREKA users to design, test, and validate quantum algorithms at scales that surpass the physical limits of contemporary hardware. By using advanced simulation techniques such as state-vector and Matrix Product State methods, the system can emulate circuits featuring thousands of qubits and millions of gates.
This partnership positions both companies to capture a share of the rapidly expanding quantum simulation market, which is projected to reach $3.8 billion by 2035. By combining SDT’s established presence in South Korea and its domestic market, estimated to grow at a 28.1% CAGR, with QPerfect’s specialized software infrastructure, the collaboration strengthens global access to production-grade quantum development.
BTQ Technologies Corp. (NASDAQ:BTQ) develops computer-based technology related to post-quantum cryptography for applications in blockchain and related technologies in New York and Canada.
9. Docebo Inc. (NASDAQ:DCBO)
Docebo Inc. (NASDAQ:DCBO) is one of the most promising Canadian stocks according to analysts. On February 27, Docebo reported strong demand and improved sales execution in its Q4 2025 earnings call, specifically within the mid-market and mid-enterprise segments. A major highlight is the integration of the 365Talents acquisition, which enhanced the company’s data capabilities and AI-driven offerings.
While the company celebrated a robust pipeline in the government sector due to recent FedRAMP compliance, it also faced some headwinds, including an enterprise segment underperformance in 2025 and a decline in net dollar retention rate to 99%, largely attributed to AWS-related impacts.
The integration of 365Talents remains a core focus, with sales teams undergoing cross-training to facilitate stand-alone and suite-based selling. The CEO noted that while customer adoption of 365Talents is expected to scale in H2 2026, the acquisition already provides a data advantage for AI agents. Regarding AI monetization, the company is currently navigating market skepticism toward credit-based pricing. To address customer demands for predictability, Docebo Inc. (NASDAQ:DCBO) is testing hybrid pricing models that combine per-seat and credit-based structures.
Docebo Inc. (NASDAQ:DCBO) develops and provides a learning management platform for training in Canada, the US, and internationally.
8. Integra Resources Corp. (NYSEAMERICAN:ITRG)
Integra Resources Corp. (NYSEAMERICAN:ITRG) is one of the most promising Canadian stocks according to analysts. On February 17, Integra Resources announced the acquisition of a 6,600-acre ranch contiguous to its DeLamar Project in Owyhee County, Idaho, for a purchase price of $12.5 million. This land consolidation includes deeded acreage, a large US Bureau of Land Management grazing permit, and two Idaho State grazing leases.
By securing this property, Integra Resources Corp. (NYSEAMERICAN:ITRG) aims to de-risk the project’s advancement, extinguish underlying easements, and eliminate associated payment obligations while strengthening its alignment with the local ranching community. The acquisition provides significant operational and environmental benefits, including the procurement of prime mitigation habitat to support permitting efficiency for wetlands and streams. Additionally, the transaction secures surface and water rights that enhance the project’s overall resilience and flexibility.
President and CEO George Salamis noted that the purchase reflects a disciplined approach to capital allocation, utilizing funds from a recent $61 million financing to reduce execution risk ahead of the construction phase at DeLamar. The DeLamar Project, which encompasses the DeLamar and Florida Mountain deposits, was confirmed as a low-cost open-pit oxide heap leach operation in a late 2025 Feasibility Study. The study outlined a 10-year mine life with a total production of 1.1 million ounces of gold equivalent and an average annual output of 106,000 ounces.
Integra Resources Corp. (NYSEAMERICAN:ITRG) is a precious metals producer that acquires, explores, and develops mineral properties in the Great Basin of the Western US. It primarily explores for gold and silver deposits.
7. Aduro Clean Technologies Inc. (NASDAQ:ADUR)
Aduro Clean Technologies Inc. (NASDAQ:ADUR) is one of the most promising Canadian stocks according to analysts. On February 11, Aduro Clean Technologies announced that its Next Generation Process/NGP Pilot Plant in London, Ontario, has transitioned from the commissioning phase to active operating campaigns. Following the mechanical completion and system integration finalized in December 2025, the facility is now functioning as a fully integrated unit.
These initial operations are designed to support the company’s commercial scale-up by conducting structured trials for research, customer feedstock qualification, and the refinement of operating parameters under continuous, real-world conditions. The NGP Pilot Plant serves as a vital technical bridge between laboratory-scale development and the company’s planned First-of-a-Kind/FOAK industrial facility.
By using industrial-grade automation from Siemens, the plant generates high-resolution data that informs detailed engineering and equipment specifications for larger-scale execution. Aduro has already completed site selection for the FOAK facility and is currently evaluating equipment for long-lead procurement, ensuring that the data gathered in London directly strengthens the design and integration of its future commercial plants. To ensure operational readiness, Aduro Clean Technologies Inc. (NASDAQ:ADUR) expanded its technical teams and implemented a comprehensive training program focused on automation, safety, and process troubleshooting.
Aduro Clean Technologies Inc. (NASDAQ:ADUR) develops water-based chemical recycling technologies. The company’s platform converts end-of-life plastics and tire rubber to specialty chemicals and fuels; upgrades heavy crude oils; and transforms renewable oils into renewable fuels and specialty chemicals.
6. New Found Gold Corp. (NYSEAMERICAN:NFGC)
New Found Gold Corp. (NYSEAMERICAN:NFGC) is one of the most promising Canadian stocks according to analysts. On March 1, New Found Gold Corp. released the final results from its 2025 grade control drill program at the 100%-owned Queensway Gold Project in Newfoundland and Labrador. The program focused on the Keats and Iceberg zones within the Keats-Baseline Fault Zone, delivering high-grade gold intercepts at or near the surface.
Notable results from the Iceberg excavation include 71.8 g/t Au over 31.95 meters and 76.6 g/t Au over 16.00 meters, while the Keats zone yielded 51.3 g/t Au over 3.40 meters. These findings confirm the strong continuity of mineralization. The 2025 program utilized a tight 5-meter by 5-meter drill spacing to improve confidence in gold distribution and validate initial mineral resource estimate models. In total, the company completed 2,773 meters of drilling across 84 holes at Keats and 2,390 meters across 40 holes at Iceberg.
New Found Gold Corp. (NYSEAMERICAN:NFGC) has now initiated its 2026 drill program with four active rigs, initially targeting resource conversion for the Phase 2 open pit and Phase 3 underground plans. The company intends to expand grade control drilling in Q2 2026, including new work at the Lotto excavation. Approximately 45% of the results from the 2025 drilling season remain outstanding and will be released as they become available. Additionally, the company expects to file an updated Technical Report and mineral resource estimate for the Queensway Project in Q3 2026.
New Found Gold Corp. (NYSEAMERICAN:NFGC) is a mineral exploration company that engages in the identification, evaluation, acquisition, and exploration of mineral properties in the Provinces of Newfoundland and Labrador, Canada.
5. Seabridge Gold Inc. (NYSE:SA)
Seabridge Gold Inc. (NYSE:SA) is one of the most promising Canadian stocks according to analysts. On March 2, Seabridge Gold announced results from the first systematic metallurgical test program conducted on its Snip North deposit, part of the 100% owned Iskut Gold-Copper Project in British Columbia’s Golden Triangle. Testing performed at ALS Metallurgy in Kamloops confirmed that the mineralization responds very well to conventional flotation, mirroring the flow sheet established for the company’s nearby KSM Project.
The program utilized drill-core samples from the 2025 exploration season, revealing that Snip North metallurgy shares significant similarities with the Mitchell deposit. The metallurgical assessment included locked cycle tests that produced high-quality copper-gold-molybdenum concentrates. Samples with head grades of 0.04% to 0.26% copper and 0.4 g/t to 1.21 g/t gold achieved final concentrate grades of up to 28% copper and 525 g/t gold.
Furthermore, supplementary cyanide leaching on pyritic concentrates significantly boosted overall gold recoveries to between 85.3% and 92.7%. Initial bond work index tests also indicated that the mineralization is relatively soft, making it suitable for standard grinding circuits. Rudi Fronk, Chair and CEO of Seabridge Gold Inc. (NYSE:SA), stated that these positive results provide a strong technical foundation for the development of a maiden resource estimate for Snip North.
Seabridge Gold Inc. (NYSE:SA), together with its subsidiaries, acquires and explores gold properties in North America. It explores for gold, copper, silver, and molybdenum deposits.
4. TransAlta Corporation (NYSE:TAC)
TransAlta Corporation (NYSE:TAC) is one of the most promising Canadian stocks according to analysts. On February 27, TransAlta Corporation reported solid 2025 results, with free cash flow of $514 million exceeding the midpoint of its annual outlook despite softer Alberta power prices. The company’s hedging strategy and contracted portfolio successfully offset market volatility, leading the Board of Directors to approve an 8% increase to the common share dividend.
During Q4, TransAlta advanced several key growth priorities, including an MoU with Canada Pension Plan Investments and Brookfield to develop data centers at the Keephills site in Alberta. The company also closed the acquisition of Far North Power Corporation, adding 310 MW of natural gas capacity in Ontario. Furthermore, TransAlta secured a long-term tolling agreement to convert its Centralia Unit 2 facility from coal to natural gas, a move designed to extend the facility’s life while reducing emissions.
For 2026, TransAlta Corporation (NYSE:TAC) expects adjusted EBITDA between $950 and $1,050 million, supported by a diversifying fleet and expected load growth from data centers. The company also reached a sustainability milestone, achieving a 76% reduction in GHG emissions since 2015.
TransAlta Corporation (NYSE:TAC) develops, produces, and sells electric energy. It operates through Hydro, Wind & Solar, Gas, Energy Transition, and Energy Marketing segments.
3. Colliers International Group Inc. (NASDAQ:CIGI)
Colliers International Group Inc. (NASDAQ:CIGI) is one of the most promising Canadian stocks according to analysts. On March 2, Colliers announced the acquisition of Progedil, the leading residential asset advisor in Rome, to enhance its capabilities in large-scale urban regeneration and new-build development projects. This move follows a successful three-year collaboration that resulted in 2,400 joint transactions.
Under the new agreement, Progedil’s senior leadership, including CEO Marco Barile and Managing Director Francesco Procopio, will retain significant equity and continue to manage day-to-day operations for their team of 75 professionals. Progedil brings a 35-year legacy to Colliers, having commercialized over 27,000 residential units valued at ~€6.5 billion. The firm provides a comprehensive suite of services, including project marketing, brokerage, technical project management, and property management for both institutional and private clients.
This acquisition is designed to deepen Colliers’ presence in the Roman market, complemented by the transition of Niccolò Suardi to lead the regional Advisory & Transaction team while maintaining his role as Head of Retail for Italy. The integration aims to leverage Colliers International Group Inc.’s (NASDAQ:CIGI) global ecosystem, shared technology, and intelligence to provide innovative solutions for investors in Italy’s residential and urban markets.
Colliers International Group Inc. (NASDAQ:CIGI) provides commercial real estate, engineering, and investment management solutions in the US, Canada, Europe, Australia, the UK, Poland, China, India, and internationally.
2. FirstService Corporation (NASDAQ:FSV)
FirstService Corporation (NASDAQ:FSV) is one of the most promising Canadian stocks according to analysts. On March 3, FirstService Residential appointed Isadora Badi as Chief Marketing Officer, a move that comes during a period of significant expansion for the North American property management leader. CEO David Diestel noted that as developers create increasingly sophisticated communities and boards face higher-stakes decisions, strategic marketing has become essential for connecting customer insights to service innovation.
This leadership change aligns with a broader organizational transformation initiated under Diestel’s tenure to strengthen enterprise capabilities and support long-term growth. Since joining FirstService Corporation (NASDAQ:FSV) in 2022, Badi has spearheaded the ‘Life, Simplified’ brand evolution and transformed the marketing department into a data-driven enterprise capability.
Her team has focused on enhancing board education and thought leadership, utilizing the company’s vast footprint across the US and Canada to provide actionable guidance through tools like the BENCHMARK budget reports. Additionally, she has overseen the launch of new technology, including HODA, a digital assistant designed to improve the homeowner experience. Her appointment arrives as nearly 80% of new housing stock is developed within managed associations, increasing the demand for professional guidance.
FirstService Corporation (NASDAQ:FSV), together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the US and Canada. It operates through two segments: FirstService Residential and FirstService Brands.
1. Stantec Inc. (NYSE:STN)
Stantec Inc. (NYSE:STN) is one of the most promising Canadian stocks according to analysts. On February 25, Stantec reported the financial results for 2025, with net revenue climbing 10.7% to $6.5 billion. This was fueled by a combination of 5.0% organic expansion and 3.9% from strategic acquisitions. The company’s focus on operational excellence led to a record adjusted EBITDA of $1.1 billion and a margin of 17.6%, hitting its 2024–2026 strategic target an entire year ahead of schedule. Additionally, adjusted EPS rose nearly 20% to $5.30.
Beyond revenue gains, Stantec showed significant strength in cash flow and backlog management. Operating cash flows surged by 43.1% to $862.9 million, while the company’s contract backlog reached a new high of $8.6 billion, representing ~13 months of work. The firm also exceeded its real estate optimization goals, reducing its physical footprint by 11% compared to 2023.
Stantec Inc. (NYSE:STN) enters 2026 with a positive outlook, targeting net revenue growth between 8.5% and 11.5% and further expansion of its adjusted EBITDA margin to a range of 17.6% to 18.2%. The company anticipates strong demand across its Water, Energy & Resources, and Health Care segments, particularly in the US and Canada.
Stantec Inc. (NYSE:STN) provides professional services in the areas of infrastructure and facilities to private and public sectors in Canada, the US, and internationally.
While we acknowledge the potential of STN 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 STN and that has 100x upside potential, check out our report about this cheapest AI stock.
READ NEXT: 40 Most Popular Stocks Among Hedge Funds Heading Into 2026 and 10 Best Canadian Stocks to Buy Under $20.
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