In this article, we will take a look at the 5 Best Canadian Dividend Stocks to Buy for the Next 5 Years. For deeper discussion and analysis, read 10 Best Canadian Dividend Stocks to Buy for the Next 5 Years.
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5. Enbridge Inc. (NYSE:ENB)
Number of Hedge Fund Holders: 37
On June 25, Morgan Stanley raised its price recommendation on Enbridge Inc. (NYSE:ENB) to C$86 from C$85. It reiterated an Equal Weight rating on the stock. After recently hosting meetings with the company’s senior management in Europe, the firm said Enbridge is well-positioned to continue expanding its secured project backlog over the next several quarters. Morgan Stanley believes this should provide greater visibility into the annual EBITDA growth of 5% beyond 2030.
On May 26, CIBC also raised its price goal on Enbridge to C$77 from C$74. It maintained a Neutral rating on the shares. Following first-quarter earnings reports, the firm updated its models for the energy infrastructure sector. Analyst Robert Catellier said in a research note that midstream companies pointed to potential upside to their guidance if current market conditions continue.
Enbridge Inc. (NYSE:ENB) is an energy transportation and distribution company. Its operations are organized into four business segments: Liquids Pipelines, Gas Transmission, Gas Distribution and Storage, and Renewable Power Generation.
4. Kinross Gold Corporation (NYSE:KGC)
Number of Hedge Fund Holders: 42
On June 1, BofA raised its price recommendation on Kinross Gold Corporation (NYSE:KGC) to $46 from $43.50. It reiterated a Buy rating on the stock. The move came after the firm updated its estimates.
Earlier, on May 18, Freedom Broker upgraded Kinross Gold to Buy from Hold. It also lifted its price target to $38 from $13.50. The analyst described the company’s first-quarter results as a “clean, high-quality beat” in a research note. The firm also said that Great Bear is the “most important unpriced option” in Kinross’ portfolio.
During the company’s first-quarter 2026 earnings call, CEO J. Paul Rollinson said Kinross delivered another strong quarter, generating record free cash flow of approximately $840 million. He noted that this was the company’s fourth consecutive quarter of record free cash flow. Rollinson said strong operational execution and disciplined cost management helped Kinross achieve record margins that continued to outpace the increase in gold prices, demonstrating the company’s ability to keep costs under control.
Rollinson also said Kinross had returned approximately $350 million to shareholders through dividends and share repurchases during 2026 to date, reflecting its disciplined approach to capital allocation and shareholder returns. He added that the company had returned more than $1 billion to shareholders over the past 12 months and reduced its outstanding share count by more than 3% through its share repurchase program.
Kinross Gold Corporation (NYSE:KGC) is a gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile, and Canada.
3. Gildan Activewear Inc. (NYSE:GIL)
Number of Hedge Fund Holders: 42
On June 17, Scotiabank lowered its price recommendation on Gildan Activewear Inc. (NYSE:GIL) to $65 from $72. It reiterated an Outperform rating on the stock. Analyst John Zamparo said the recent short report is likely to weigh on near-term investor sentiment. Even so, the firm remains confident in Gildan’s ability to generate strong free cash flow and earnings per share and continues to hold a positive view on the stock.
A day earlier, on June 16, UBS maintained its Buy rating on Gildan Activewear with a $110 price target. Analyst Jay Sole said the stock had sold off following a short report that claimed Wall Street’s revenue forecast was too high. UBS views the pullback as an “excellent buying opportunity.” The firm does not believe Gildan will miss its fiscal 2026 revenue outlook. Sole also said the company’s December analyst day is expected to be a positive catalyst rather than an event where management will have to explain a significant reduction in its guidance.
Gildan Activewear Inc. (NYSE:GIL) manufactures everyday basic apparel. Its product portfolio includes activewear, underwear, and socks, which are sold to wholesale distributors, screen printers and embellishers, retailers with physical stores and e-commerce platforms, as well as global lifestyle brand companies.
2. Canadian Pacific Kansas City Limited (NYSE:CP)
Number of Hedge Fund Holders: 45
On June 25, Barclays raised its price recommendation on Canadian Pacific Kansas City Limited (NYSE:CP) to $102 from $99. It reiterated an Overweight rating on the stock. The firm updated its price targets across the North American transportation sector as part of its second-quarter earnings preview.
The analyst said solid freight demand across the US and international markets, along with lower transportation capacity, is expected to support stronger earnings and a more positive outlook for the sector. According to the research note, continued volume momentum and higher US imports should lead to favorable earnings revisions throughout the reporting season, while tighter market capacity is expected to support higher core freight pricing for most carriers.
Canadian Pacific Kansas City Limited (NYSE:CP) operates the only single-line railway connecting Canada, the United States, and Mexico. Its network provides direct access to major ports stretching from Vancouver and Atlantic Canada to the Gulf Coast and Lazaro Cardenas, Mexico.
1. Alamos Gold Inc. (NYSE:AGI)
Number of Hedge Fund Holders: 48
On June 22, BofA lowered its price recommendation on Alamos Gold Inc. (NYSE:AGI) to $50 from $57. It reiterated a Buy rating on the stock. The firm updated its model after the company reduced its second-quarter gold production guidance by 12% to 130,000-150,000 ounces. The lower outlook reflects the timing of gold recoveries at La Yaqui Grande and reduced mining rates at the Young-Davidson mine.
Earlier, on June 20, CIBC lowered its price goal on Alamos Gold to C$82 from C$90. It maintained an Outperformer rating. Analyst Cosmos Chiu said the Young-Davidson mine had been affected by two seismic events during the previous week, including one at an active mining area. The firm reduced its production estimates but noted that, while the development is disappointing, Young-Davidson is no longer the primary driver of value for Alamos following the emergence of the Island Gold District.
Alamos Gold Inc. (NYSE:AGI) is a Canadian intermediate gold producer with diversified operations across North America. Its producing assets include the Island Gold District and the Young-Davidson mine in northern Ontario, Canada, as well as the Mulatos District in Sonora State, Mexico.
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