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11 Most Profitable Canadian Stocks

In this piece, we will take a look at the 11 most profitable Canadian stocks. For more great Canadian stocks, head on over to 5 Most Profitable Canadian Stocks.

Canada is one of the largest, richest, and most developed countries in the world. In terms of land mass, it is the second largest, coming second only to the Russian Federation, and in terms of the economy, its nominal gross domestic product (GDP) was worth $2.2 trillion by the end of last year, ranking 15th globally. At the same time, Canada’s GDP per capita, which is the per person economic output stood at $56,794.

The country is rich in natural resources, and it is one of the few developed nations in the world that also relies on the primary sector for its export earnings. Canada’s economy also benefits from its close proximity to the United States. The U.S. border is Canada’s largest land border, and as of 2021, the U.S. and Canada had traded in $665 billion of products and services (For more on America’s biggest trading partners, be sure to check out 30 Largest Trading Partners of the U.S.). The pair have a close partnership in several key sectors, and Canada has a crucial role in American economic strength as it is the largest importer of U.S. origin products.

These stood at $307 billion as of 2021 end, and the largest imports were of machinery and vehicles, which stood at a whopping $88 billion. Yet, while Canada buys cars from the U.S., it sells its southern neighbor the fuel on which it runs its own vehicles. As of 2021 end, Canada had exported $365 million of goods and services to the U.S., and more than one third of these, or $109 billion were of mineral fuels and derivatives. At the same time, while Canada was America’s largest export destination, the U.S. was also the largest importer of Canadian goods – indicating a key and enduring partnership between the two North American countries.

Therefore, it is unsurprising that some of the largest Canadian companies are traded directly on U.S. exchanges instead of as over the counter stocks. This trend is often absent globally, as corporate behemoths from other regions and countries such as South Korea see their shares trade over the counter. However, Canada also has a well-developed financial industry of its own. The Canadian Toronto Stock Exchange (XTSE) is the third largest exchange in North America as of 2022 with the cumulative market capitalization of all the firms trading on it sitting at $2.76 trillion. Globally, the TSX comes in at an eleventh place. Business is booming for the exchange as well, with the latest data showing that in December 2022 total financing grew by 521% over November and by 27% annually. Finally, a total of 1,791 companies were listed on the exchange in December 2022.

True to its form of reliance on energy exports for foreign exchange, the oil and gas sector is one of the largest components of the Canadian stock market. At the same time, Canada is also one of the hottest regions for venture capital investments. In fact, data from the Canadian government points out that as of 2021, venture capital investment in the country stood at $14.7 billion – making Canada the third largest VC destination among the Organization of Economic Coordination and Development (OECD) countries. The Canadian government itself is also stimulating this investment as it has promised up to $450 million in support for VC investments in industry sectors such as life sciences and support for marginalized communities and women.

Canada also has a well-developed science and technology industry, evidenced particularly by its regular contribution to the International Space Station (ISS). One major Canadian equipment that is central to the space station’s operation is the Canadarm. This is a robotic arm that is used to both capture uncrewed vehicles that dock with the ISS and to aid the astronauts when they repair the orbiting laboratory. It also has an astronaut corps, with Colonel Chris Austin Hadfield of the Canadian Air Command famous for his science experiments (and songs!) onboard the ISS that have captured public attention for decades.

Today’s piece will focus on the most profitable Canadian stocks. Almost all major Canadian firms also have a secondary listing on U.S. stock markets, and some top performers in today’s piece are Bank of Montreal (NYSE:BMO), Royal Bank of Canada (NYSE:RY), and The Toronto-Dominion Bank (NYSE:TD).

Our Methodology

We dug through all Canadian companies that have listed their shares both on American and local markets and then sorted them through their net income.

11 Most Profitable Canadian Stocks

11. Tourmaline Oil Corp. (OTCMKTS:TRMLF)

Trailing Twelve Months Net Income: $4.12 billion (1CAD = 075USD)

Number of Hedge Fund Holders In Q3 2022: N/A

Tourmaline Oil Corp. (OTCMKTS:TRMLF) is an oil and gas company that is headquartered in Calgary. The firm focuses its operations on the back end of the energy industry, and it is primarily involved in exploring and developing oil and gas properties.

Tourmaline Oil Corp. (OTCMKTS:TRMLF) is another oil company that rode the 2022 oil price wave to new heights. Not only did the firm announce a special dividend of CAD2.25 per share, but it also raised its ordinary dividend by 11% to 25 Canadian cents. The firm is the largest natural gas producer in Canada, and it is also one of the few Canadian companies that is responding to the growing demand for liquefied natural gas in the wake of the Russian invasion of Ukraine that has seen European demand for the fuel grow for non Russian sources.

Along with Royal Bank of Canada (NYSE:RY), Bank of Montreal (NYSE:BMO), and The Toronto-Dominion Bank (NYSE:TD), the Tourmaline Oil Corp. (OTCMKTS:TRMLF) is a Canadian top performer in profitability.

10. Canadian Imperial Bank of Commerce (NYSE:CM)

Trailing Twelve Months Net Income: $4.64 billion (1CAD = 075USD)

Number of Hedge Fund Holders In Q3 2022: 12

The Canadian Imperial Bank of Commerce (NYSE:CM) is one of the largest banks in Canada. Headquartered in Toronto, it has a diverse client list that ranges from everyday consumers to also cover the institutional, public sector, and corporate clients. The bank provides a host of different services such as accounts, loans, lines of credit, and insurance services.

A technology company announced in February 2023 that the Canadian Imperial Bank of Commerce (NYSE:CM) is partnering up with JPMorgan and other banks to increase its revolving credit facility to $600 million. 12 of the 920 hedge funds polled by Insider Monkey during the third quarter of last year had invested in the bank.

Out of these, Joseph Sirdevan’s Galibier Capital Management is The Canadian Imperial Bank of Commerce (NYSE:CM)’s largest investor. It owns 828,762 shares that are worth $33 million.

9. Manulife Financial Corporation (NYSE:MFC)

Trailing Twelve Months Net Income: $5.39 billion (1CAD = 075USD)

Number of Hedge Fund Holders In Q3 2022: 14

Manulife Financial Corporation (NYSE:MFC) is a Toronto based financial services firm. The company’s product portfolio spans wealth management, insurance, asset management, corporate services, and annuities.

Manulife Financial Corporation (NYSE:MFC) was one of the companies that attended the World Economic Forum in Davos, Switzerland in January 2023 where the firm announced two innovation challenges for a sustainable forest economy. By the end of 2022’s third quarter, 14 of the 920 hedge funds part of Insider Monkey’s research had owned a stake in the company.

Manulife Financial Corporation (NYSE:MFC)’s largest hedge fund shareholder in our database is Joseph Sirdevan’s Galibier Capital Management which owns 2.5 million shares that are worth $45 million.

8. Imperial Oil Limited (NYSE:IMO)

Trailing Twelve Months Net Income: $5.46 billion (1CAD = 075USD)

Number of Hedge Fund Holders In Q3 2022: 19

Imperial Oil Limited (NYSE:IMO) is an oil and gas company based in Calgary. The firm was set up in 1880, and it is a diversified energy company that both explores for and produces oil and associated products and sells them to the general public as well. Imperial Oil Limited (NYSE:IMO) has more than three hundred million barrels of proven oil reserves.

Imperial Oil Limited (NYSE:IMO) is currently at the center of a controversy as the Albertan energy regulator has issued an environmental protection order against the firm after leaks were discovered in the company’s oil sands facility. Insider Monkey took a look at 920 hedge fund holdings for last year’s third quarter and discovered that 19 had held the company’s shares.

Imperial Oil Limited (NYSE:IMO)’s largest investor is Jean-Marie Eveillard’s First Eagle Investment Management which owns 23 million shares that are worth $1.2 billion.

7. Suncor Energy Inc. (NYSE:SU)

Trailing Twelve Months Net Income: $5.84 billion (1CAD = 075USD)

Number of Hedge Fund Holders In Q3 2022: 45

Suncor Energy Inc. (NYSE:SU) is another Calgary based oil and gas company. It has oil exploration and production assets in Canada, Libya, and Syria.

Suncor Energy Inc. (NYSE:SU) announced in February 2023 that it had finished the process of buying a $688 million stake in an Alberta project in which the oil giant Total is also involved. After plowing through 920 hedge fund holdings, Insider Monkey discovered that 45 funds had bought Suncor Energy Inc. (NYSE:SU)’s shares.

Out of these, Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital is Suncor Energy Inc. (NYSE:SU)’s largest investor. It owns 19.7 shares that are worth $556 million.

6. The Bank of Nova Scotia (NYSE:BNS)

Trailing Twelve Months Net Income: $7.41 billion (1CAD = 075USD)

Number of Hedge Fund Holders In Q3 2022: 15

The Bank of Nova Scotia (NYSE:BNS) is one of the biggest banks in Canada. Headquartered in Toronto, it has operations in a variety of different countries such asthe U.S., Mexico, Chile, and Colombia.

The Bank of Nova Scotia (NYSE:BNS) announced in February 2023 that it is hiring Wall Street executives from a French investment firm to expand its presence in the $1 trillion U.S. structured loan market. 15 of the 920 hedge funds profiled by Insider Monkey in 2022’s September quarter had owned a stake in The Bank of Nova Scotia (NYSE:BNS).

The Bank of Nova Scotia (NYSE:BNS)’s largest investor is Jim Simons’ Renaissance Technologies which owns 1.9 million shares that are worth $90 million.

The Bank of Nova Scotia (NYSE:BNS), Bank of Montreal (NYSE:BMO), Royal Bank of Canada (NYSE:RY), and The Toronto-Dominion Bank (NYSE:TD) are some of the most profitable publicly traded Canadian companies.

Click to continue reading and see 5 Most Profitable Canadian Stocks.

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Disclosure: None. 11 Most Profitable Canadian Stocks is originally published on Insider Monkey.

AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

AI is eating the world—and the machines behind it are ravenous.

Each ChatGPT query, each model update, each robotic breakthrough consumes massive amounts of energy. In fact, AI is already pushing global power grids to the brink.

Wall Street is pouring hundreds of billions into artificial intelligence—training smarter chatbots, automating industries, and building the digital future. But there’s one urgent question few are asking:

Where will all of that energy come from?

AI is the most electricity-hungry technology ever invented. Each data center powering large language models like ChatGPT consumes as much energy as a small city. And it’s about to get worse.

Even Sam Altman, the founder of OpenAI, issued a stark warning:

“The future of AI depends on an energy breakthrough.”

Elon Musk was even more blunt:

“AI will run out of electricity by next year.”

As the world chases faster, smarter machines, a hidden crisis is emerging behind the scenes. Power grids are strained. Electricity prices are rising. Utilities are scrambling to expand capacity.

And that’s where the real opportunity lies…

One little-known company—almost entirely overlooked by most AI investors—could be the ultimate backdoor play. It’s not a chipmaker. It’s not a cloud platform. But it might be the most important AI stock in the US owns critical energy infrastructure assets positioned to feed the coming AI energy spike.

As demand from AI data centers explodes, this company is gearing up to profit from the most valuable commodity in the digital age: electricity.

The “Toll Booth” Operator of the AI Energy Boom

  • It owns critical nuclear energy infrastructure assets, positioning it at the heart of America’s next-generation power strategy.
  • It’s one of the only global companies capable of executing large-scale, complex EPC (engineering, procurement, and construction) projects across oil, gas, renewable fuels, and industrial infrastructure.
  • It plays a pivotal role in U.S. LNG exportation—a sector about to explode under President Trump’s renewed “America First” energy doctrine.

Trump has made it clear: Europe and U.S. allies must buy American LNG.

And our company sits in the toll booth—collecting fees on every drop exported.

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As Trump’s proposed tariffs push American manufacturers to bring their operations back home, this company will be first in line to rebuild, retrofit, and reengineer those facilities.

AI. Energy. Tariffs. Onshoring. This One Company Ties It All Together.

While the world is distracted by flashy AI tickers, a few smart investors are quietly scooping up shares of the one company powering it all from behind the scenes.

AI needs energy. Energy needs infrastructure.

And infrastructure needs a builder with experience, scale, and execution.

This company has its finger in every pie—and Wall Street is just starting to notice.

Wall Street is noticing this company also because it is quietly riding all of these tailwinds—without the sky-high valuation.

While most energy and utility firms are buried under mountains of debt and coughing up hefty interest payments just to appease bondholders…

This company is completely debt-free.

In fact, it’s sitting on a war chest of cash—equal to nearly one-third of its entire market cap.

It also owns a huge equity stake in another red-hot AI play, giving investors indirect exposure to multiple AI growth engines without paying a premium.

And here’s what the smart money has started whispering…

The Hedge Fund Secret That’s Starting to Leak Out

This stock is so off-the-radar, so absurdly undervalued, that some of the most secretive hedge fund managers in the world have begun pitching it at closed-door investment summits.

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Why? Because excluding cash and investments, this company is trading at less than 7 times earnings.

And that’s for a business tied to:

  • The AI infrastructure supercycle
  • The onshoring boom driven by Trump-era tariffs
  • A surge in U.S. LNG exports
  • And a unique footprint in nuclear energy—the future of clean, reliable power

You simply won’t find another AI and energy stock this cheap… with this much upside.

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Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

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A New Dawn is Coming to U.S. Stocks

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…