In this article, we will discuss 11 Best Canadian Growth Stocks to Buy According to Hedge Funds.
For over 10 years, U.S. equities have dominated global markets, but that leadership is beginning to show signs of fatigue in 2025. Valuation gaps illustrate the shift: U.S. stocks ended 2024 trading at a steep premium to global peers, a spread that has narrowed meaningfully in recent months. Historically, market leadership rotates, and the current U.S.-led cycle raises legitimate questions about how sustainable that dominance will be. Forward-looking assumptions from major institutions suggest developed international markets could deliver stronger long-term returns than the U.S., driven by valuation normalization and shifting earnings dynamics.
Against this backdrop, Canadian equities stand out as an attractive alternative. Canada offers differentiated exposure to sectors that can behave differently from U.S. mega-cap technology and consumer giants. For investors seeking diversification, adding Canadian stocks can reduce concentration risk, provide exposure to distinct economic cycles, and potentially benefit from currency tailwinds if the U.S. dollar weakens.
Within this opportunity set, growth remains a critical filter. Companies that have delivered EPS growth of more than 20% on average over the past three years demonstrate expanding profitability, operational discipline, and competitive strength. Sustained earnings growth is one of the most reliable drivers of long-term share price appreciation, often supporting higher valuations and increasing investor demand.
Finally, hedge fund ownership adds another layer of conviction. Hedge funds deploy significant analytical resources and capital in pursuit of alpha, and their positions often reflect deep fundamental research and high-conviction views. By focusing on Canadian growth stocks that have attracted hedge fund interest, investors can align themselves with sophisticated capital while gaining exposure to businesses positioned for continued earnings expansion.
With this context in mind, here is a list of the 11 best Canadian growth stocks to buy according to hedge funds.
Our Methodology
We used screeners to identify Canadian stocks that have a track record of delivering earnings growth and have grown their EPS by at least 20% over the past 3 years. We limited our final selection to companies that have recently reported noteworthy developments likely to impact investor sentiment. As these stocks are popular among analysts and elite hedge funds, we ranked those stocks in ascending order based on the number of hedge funds holding stakes in each stock as of Q3 2025. We assessed hedge fund ownership of each stock using Insider Monkey’s hedge fund database.
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).
11 Best Canadian Growth Stocks to Buy According to Hedge Funds
11. Integra Resources Corp. (NYSE:ITRG)
Number of Hedge Fund Holders: 10
3-year EPS growth: 59.14%
On January 27, Roth Capital raised its price target on Integra Resources Corp. (NYSE:ITRG) to $7 from $6.50 while reiterating a Buy rating. Although fourth-quarter production results were modestly below expectations, the analyst noted that stronger near-term gold and silver prices more than offset the shortfall. The revised target reflects improved commodity price assumptions and confidence in the company’s ability to advance its development pipeline despite short-term variability in output.
On February 9, Integra Resources Corp. (NYSE:ITRG) completed an oversubscribed bought deal financing totaling approximately $61.6 million, issuing over 18.1 million shares at $3.40 per share. Proceeds will be directed toward pre-production capital expenditures at the DeLamar Project, including equipment procurement, early-stage site work, and land acquisitions. The financing follows key permitting advancements and the completion of a feasibility study, positioning the project to progress toward early construction activities ahead of a final Record of Decision. By securing funding at this stage, Integra meaningfully reduces execution risk and mitigates the likelihood of near-term dilutive capital raises, strengthening its trajectory toward a formal construction decision.
Integra Resources Corp. (NYSE:ITRG) is a precious metals exploration and development company focused on projects in the Great Basin region of the western United States. With permitting milestones achieved, feasibility analysis completed, and capital secured to advance DeLamar, the company offers exposure to a de-risking gold development story supported by identifiable catalysts and scalable production potential, making it one of the best Canadian growth stocks to buy according to hedge funds.
10. Americas Gold and Silver Corporation (NYSE:USAS)
Number of Hedge Fund Holders: 11
3-year EPS growth: 46.56%
On February 9, TD Securities initiated coverage of Americas Gold and Silver Corporation (NYSE:USAS) with a Buy rating and a C$13 price target, citing management’s execution strategy to ramp silver production through operational enhancements at the Galena Complex in Idaho. The analyst noted that the company is applying a proven operational playbook to drive throughput and efficiency improvements. TD highlighted significant re-rating potential as Americas Gold & Silver, currently the largest producer of antimony in the United States, scales production at Galena and strengthens its exposure to both precious and critical metals markets.
On February 10, 2026, Americas Gold and Silver Corporation (NYSE:USAS) announced a definitive joint venture with United States Antimony Corporation to develop and operate a vertically integrated antimony processing facility at the Galena Complex. Structured as a 51/49 partnership in favor of Americas, the joint venture will utilize Galena feedstock while combining Americas’ mining output with U.S. Antimony’s processing and marketing expertise. The initiative is expected to enhance shareholder returns by capturing additional value along the supply chain, while also reinforcing domestic critical-mineral security through the creation of a mine-to-finished-product antimony platform. Together with its consolidated ownership of Galena and the acquisition of the fully permitted Crescent Silver Mine, these developments position the company to build scale in U.S. silver and antimony production, supporting a compelling growth narrative.
Incorporated in 1998 and headquartered in Toronto, Americas Gold and Silver Corporation (NYSE:USAS) is a North American mining company producing silver, copper, and antimony from high-grade operations in the United States and Mexico. With a strategic focus on scaling U.S. 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.
9. Metalla Royalty & Streaming Ltd. (NYSE:MTA)
Number of Hedge Fund Holders: 17
3-year EPS growth: 37.50%
On January 26, Scotiabank analyst Eric Winmill raised his price target on Metalla Royalty & Streaming Ltd. (NYSE:MTA) to $9 from $7.50 while maintaining a Sector Perform rating, reflecting higher gold and silver price assumptions amid economic uncertainty and continued central bank purchasing. The firm’s revised commodity outlook supports improved valuation parameters for precious metals equities, including royalty and streaming companies with diversified exposure to underlying production growth.
On February 11, 2026, Metalla Royalty & Streaming Ltd. (NYSE:MTA) reported preliminary, unaudited 2025 results indicating record royalty and streaming revenue of $11.7 million, representing a 99% year-over-year increase, alongside 3,436 attributable gold equivalent ounces, up 38% from 2024. While fourth-quarter and full-year deliveries were impacted by ramp-up delays and a safety incident at Endeavor Mine, as well as underperformance at Wharf, the company emphasized advancing developments across its portfolio. Notable milestones included a $600 million strategic investment by Mitsubishi in Hudbay’s Copper World project, ongoing permitting and study progress at Castle Mountain, Taca Taca, Gurupi, and 15-Mile, and Sierra Madre’s acquisition and planned restart of the Del Toro mine. These capital commitments and project advancements support the visibility of future royalty cash flows, reinforcing Metalla’s long-term growth pipeline despite short-term operational variability.
Founded in 1983 and headquartered in Vancouver, Metalla Royalty & Streaming Ltd. (NYSE:MTA) acquires and manages precious metals royalties and streaming interests, primarily focused on gold and silver. With 17 hedge funds holding stakes in the company, it is one of the best Canadian growth stocks to buy according to hedge funds.
8. Rogers Communications Inc. (NYSE:RCI)
Number of Hedge Fund Holders: 18
3-year EPS growth: 52.93%
On January 30, Canaccord raised its price target on Rogers Communications Inc. (NYSE:RCI) to C$57 from C$55 while maintaining a Buy rating, reflecting increased confidence in the company’s earnings trajectory and cash flow outlook. The upward revision follows a quarterly performance that modestly exceeded expectations and reinforces the view that Rogers’ diversified asset base is beginning to translate into improved financial visibility. The maintained Buy recommendation signals that, despite ongoing competitive pressures in wireless, the firm sees sufficient upside supported by operational momentum and valuation.
Rogers Communications Inc. (NYSE:RCI)’s fourth-quarter results surpassed forecasts, primarily driven by strength in the Media segment, where sports assets and recently launched content channels generated outsized contributions. This outperformance supported better-than-expected EBITDA and free cash flow. Management’s 2026 guidance was incrementally constructive, with service revenue and free cash flow projections exceeding analyst expectations, while capital expenditure plans were slightly reduced, implying stronger medium-term cash generation and balance sheet improvement. Although wireless service revenue was flat and ARPU remained pressured, stabilization in churn and sequential improvement suggest that competitive intensity may be moderating. The Cable segment continued to provide a stable earnings foundation, while Media has emerged as a meaningful upside lever when programming performance aligns favorably. While leverage remains elevated, improving free cash flow and disciplined capital allocation support a manageable profile. A sum-of-the-parts valuation approach, applying differentiated EV/EBITDA multiples across wireless, cable, and media, indicates attractive upside potential, underpinning the positive investment stance.
Founded in 1960 and headquartered in Toronto, Rogers Communications Inc. (NYSE:RCI) is a Canadian communications and media company with operations spanning wireless services, cable television, telephony, internet, and professional sports assets. Its diversified platform and integrated infrastructure position the company to generate resilient cash flows while capitalizing on content, connectivity, and data consumption trends.
7. TMC the metals company Inc. (NASDAQ:TMC)
Number of Hedge Fund Holders: 19
3-year EPS growth: 28.26%
On January 23, Alliance Global increased its price target on TMC the metals company Inc. (NASDAQ:TMC) to $12.25 from $6.50 while maintaining a Buy rating, reflecting growing confidence in the company’s regulatory and operational progress. The revision follows the announcement of a significant permitting milestone tied to its deep-sea mining initiatives, which the analyst characterized as a pivotal step toward commercial development. Alliance Global also pointed to evolving regulatory frameworks as a structural tailwind for the industry, suggesting that clearer oversight could accelerate project timelines and enhance investor visibility. Importantly, the firm believes TMC retains a first-mover advantage in the emerging deep-sea mining sector, positioning it to capitalize on early-stage supply opportunities in critical minerals essential for global electrification trends.
During its third-quarter 2025 earnings conference call, TMC the metals company Inc. (NASDAQ:TMC) outlined several operational and financial metrics that underscore its long-term development potential. The company reported approximately $165 million in liquidity, with the possibility of securing more than $400 million in additional proceeds through warrant exercises, reinforcing its near- to mid-term funding runway. Management highlighted an estimated in-situ resource value exceeding $23 billion and projected revenues of nearly $600 per dry ton of nodules during steady-state production anticipated between 2031 and 2043. Furthermore, the participation of TMC’s Hidden Gem vessel in Japanese nodule collection trials signals expanding international collaboration and potential commercial validation. Collectively, these updates suggest that the company is strengthening both its balance sheet and strategic partnerships as it advances toward large-scale production.
Founded in 2011 and headquartered in Vancouver, Canada, TMC the metals company Inc. (NASDAQ:TMC) is focused on the exploration and development of polymetallic nodules in the Clarion Clipperton Zone of the Pacific Ocean. An impressive EPS growth of 28.26% in the past 3 years ranks TMC 7th in the list of 11 best Canadian growth stocks to buy according to hedge funds.
6. CAE Inc. (NYSE:CAE)
Number of Hedge Fund Holders: 20
3-year EPS growth: 35.95%
On January 21, Scotiabank raised its price target on CAE Inc. (NYSE:CAE) to C$57 from C$49 and maintained an Outperform rating, reflecting growing confidence in the company’s strategic transformation and margin recovery trajectory. The revision follows tangible evidence of operational improvement and balance sheet progress as CAE executes on restructuring initiatives.
In the third quarter, CAE Inc. (NYSE:CAE) reported revenue of C$1.25 billion compared to C$1.22 billion in the prior year. Management highlighted continued advancement of its transformation plan, including stronger cash flow generation and accelerated deleveraging ahead of schedule. While the Civil segment experienced year-over-year softness, the Defense division delivered a meaningful performance step-up, achieving an adjusted segment operating margin above 10% for the first time in over six years. The company completed a portfolio review identifying non-core assets representing approximately 8% of revenue and intends to pursue divestitures where value accretion is clear. Additionally, CAE plans to rationalize its commercial airline simulator fleet by removing roughly 10% of deployed units and reallocating others to improve utilization and returns. Although these measures may temper near-term revenue, they are expected to enhance long-term profitability, cash flow resilience, and return metrics, supporting a constructive investment outlook.
Founded in 1947 and headquartered in Montreal, CAE Inc. (NYSE:CAE) designs and manufactures simulation and training technologies for airlines, aircraft manufacturers, and defense customers worldwide.
5. BCE Inc. (NYSE:BCE)
Number of Hedge Fund Holders: 25
3-year EPS growth: 28.53%
On February 6, Scotiabank lowered its price target on BCE Inc. (NYSE:BCE) to C$39.50 from C$40.25 while maintaining an Outperform rating, indicating that despite modest valuation adjustments, the firm continues to view the risk-reward profile favorably.
During its third-quarter 2025 results conference call, BCE Inc. (NYSE:BCE) reported a 1.3% increase in total revenue, supported in part by the acquisition of Ziply Fiber, and adjusted EBITDA growth of 1.5%, resulting in a 10-basis-point margin expansion to 45.7%—the strongest margin performance in over three decades. The company highlighted accelerating momentum in AI-powered solutions, with related revenue increasing 34% year-over-year, largely driven by organic growth from Ateko and Bell Cyber. These developments underscore BCE’s strategic pivot toward higher-value digital and cybersecurity offerings while maintaining stable core telecom operations. The combination of modest top-line growth, margin expansion, and emerging AI-driven revenue streams supports improving cash flow durability and strengthens the long-term investment case.
Founded in 1983 and headquartered in Verdun, Quebec, BCE Inc. (NYSE:BCE) provides wireless, wireline, internet, streaming, and television services to residential, business, and wholesale customers across Canada through its Bell Communications and Technology Services and Bell Media segments.
4. TC Energy Corporation (NYSE:TRP)
Number of Hedge Fund Holders: 27
3-year EPS growth: 29.49%
On January 28, Morgan Stanley raised its price target on TC Energy Corporation (NYSE:TRP) to C$93 from C$92 while maintaining an Overweight rating, as part of a broader reassessment of North American midstream and renewable infrastructure equities. The firm noted strong sector performance amid favorable commodity pricing and constructive earnings results, supporting continued investor interest in high-quality infrastructure platforms.
TC Energy Corporation (NYSE:TRP)’s fourth-quarter EBITDA exceeded consensus expectations by approximately 2%, reflecting solid operating execution. However, the company advanced roughly C$0.6 billion of newly sanctioned projects during the quarter, below expectations. Management highlighted an expanded pipeline of de-risked opportunities, adding approximately C$2 billion in near-term projects within a broader C$20 billion origination backlog. This backlog, alongside new open seasons, provides a foundation for incremental growth into 2026. While project timing visibility remains a consideration, the scale of sanctioned and prospective investments supports medium-term earnings expansion and underpins the constructive stance on the shares.
Founded in 1951 and headquartered in Calgary, TC Energy Corporation (NYSE:TRP) builds and operates energy infrastructure across Canada, the United States, and Mexico. Its core segments include natural gas pipelines, power generation, and energy storage, positioning the company as a critical conduit for North American energy supply with long-duration, regulated cash flows.
3. Kinross Gold Corporation (NYSE:KGC)
Number of Hedge Fund Holders: 35
3-year EPS growth: 63.79%
On February 10, Stifel analyst Ralph Profiti raised his price target on Kinross Gold Corporation (NYSE:KGC) to C$65 from C$45 while maintaining a Buy rating, reflecting increased confidence in the company’s operational performance and cash flow generation amid a favorable gold price environment. The higher target signals a reassessment of Kinross’ earnings power as strong commodity pricing and disciplined cost management continue to drive margin expansion.
During its third-quarter 2025 results conference call, Kinross Gold Corporation (NYSE:KGC) reported production of 504,000 gold equivalent ounces at a cost of sales of $1,145 per ounce. With an average realized gold price of $3,458 per ounce, operating margins exceeded $2,300 per ounce, translating into record quarterly free cash flow of nearly $700 million and more than $1.7 billion year-to-date. The company increased its dividend by 17% and expanded its share repurchase program by $100 million, targeting total shareholder returns of over $750 million in 2025. These results highlight Kinross’ ability to convert higher gold prices into substantial free cash flow, reinforcing its balance sheet strength and capacity for sustained capital returns.
Founded in 1993 and headquartered in Toronto, Kinross Gold Corporation (NYSE:KGC) is a Canadian-based global gold mining company with operations spanning North America, South America, and Africa. KGC is 3rd on the list of 11 best Canadian growth stocks to buy according to hedge funds.
2. Cenovus Energy Inc. (NYSE:CVE)
Number of Hedge Fund Holders: 38
3-year EPS growth: 74.10%
On January 20, JPMorgan analyst Arun Jayaram downgraded Cenovus Energy Inc. (NYSE:CVE) to Neutral from Overweight and reduced the price target to C$25 from C$29 as part of a broader reassessment of the integrated oil sector heading into 2026. The firm cited evolving supply-side risks in crude markets alongside a more constructive outlook for downstream operations. JPMorgan also noted that, amid heightened geopolitical uncertainty, U.S.-based integrated majors appear relatively more attractive than their Canadian counterparts based on valuation metrics. While the rating change reflects relative positioning within the sector, it also underscores the importance of execution and capital discipline in sustaining investor confidence.
Cenovus’ 2026 production guidance of 945,000 to 985,000 barrels of oil equivalent per day exceeded expectations, driven primarily by continued strength in its oil sands portfolio. Although projected capital expenditures are above consensus estimates, they are broadly aligned with expectations when excluding capitalized turnaround activities. Strategic priorities for 2026 include the startup of the West White Rose project, further oil sands output growth, integration of MEG Energy assets, and the Lima refinery turnaround. In parallel, management remains focused on balance sheet optimization and shareholder returns through debt reduction and share repurchases. These operational catalysts and capital allocation initiatives suggest that, despite near-term sector headwinds, Cenovus Energy Inc. (NYSE:CVE) retains the capacity to generate resilient cash flows and enhance shareholder value over the medium term.
Headquartered in Calgary, Alberta, Cenovus Energy Inc. (NYSE:CVE) is an integrated oil and natural gas company founded in 2009. The company operates across upstream oil sands and conventional production, as well as downstream refining and upgrading assets.
1. Celestica Inc. (NYSE:CLS)
Number of Hedge Fund Holders: 62
3-year EPS growth: 82.49%
On January 30, Barclays raised its price target on Celestica Inc. (NYSE:CLS) to $391 from $359 while reiterating an Overweight rating, following the company’s upward revision to its fiscal 2026 outlook by approximately $1 billion. The analyst characterized the updated guidance as conservative, suggesting there is room for further upward revisions as the year progresses. Barclays’ constructive stance reflects confidence in sustained demand trends and improving earnings visibility, particularly as the company continues to deepen its exposure to high-growth end markets tied to next-generation computing infrastructure.
A day earlier, Celestica Inc. (NYSE:CLS) reported robust fourth-quarter and full-year 2025 results, with Q4 revenue increasing 44% year-over-year to $3.65 billion. Adjusted operating margins expanded meaningfully, and earnings per share improved substantially, contributing to full-year revenue growth of 28% to $12.39 billion and more than doubling GAAP EPS. Supported by accelerating demand for AI-driven data center hardware and enhanced clarity into customer deployment roadmaps, management raised its 2026 guidance to $17.0 billion in revenue and $8.75 in adjusted EPS. The company also announced plans to increase capital expenditures to $1 billion in 2026 to support long-term AI infrastructure programs, with funding expected to come from operating cash flow. This combination of strong execution, expanding margins, and self-funded growth investments reinforces the view that Celestica is well-positioned to capitalize on structural AI spending through 2027 and beyond.
Celestica Inc. (NYSE:CLS), founded in 1994 and headquartered in Toronto, is a multinational electronics manufacturing services provider offering design, engineering, manufacturing, and supply chain solutions. Operating across more than 15 countries, it serves sectors including artificial intelligence, aerospace, defense, health technology, and industrial markets, with a focus on complex, high-growth programs and data center infrastructure.
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