5 Most Profitable Canadian Stocks

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

5. Nutrien Ltd. (NYSE:NTR)

Trailing Twelve Months Net Income: $7.7 billion

Number of Hedge Fund Holders In Q3 2022: 52

Nutrien Ltd. (NYSE:NTR) is an agricultural company that is based in Saskatoon, Canada. It provides fertilizers and seeds through close to two thousand stores located in the U.S., Canada, Australia, and other countries.

Nutrien Ltd. (NYSE:NTR) is an agricultural company that is using high technology to improve its fertilizer production. The firm uses 4G solutions from Ericsson to monitor its production facilities. 52 of the 920 hedge funds polled by Insider Monkey had owned a stake in the company during Q3 2022.

Nutrien Ltd. (NYSE:NTR)’s largest investor is Jean-Marie Eveillard’s First Eagle Investment Management which owns 8.5 million shares that are worth $622 million.

4. Canadian Natural Resources Limited (NYSE:CNQ)

Trailing Twelve Months Net Income: $8.9 billion (1CAD = 0.75USD)

Number of Hedge Fund Holders In Q3 2022: 41

Canadian Natural Resources Limited (NYSE:CNQ) is an oil and gas company based in Calgary. The firm has billions of barrels of oil reserves and operations all over the globe.

Canadian Natural Resources Limited (NYSE:CNQ), along with other oil companies won some respite in British Columbia in January 2023 when an agreement with a tribal group allowed the resumption of oil and gas activity. By the end of last year’s third quarter, 41 of the 920 hedge funds polled by Insider Monkey had bought Canadian Natural Resources Limited (NYSE:CNQ)’s shares.

Donald Yacktman’s Yacktman Asset Management is Canadian Natural Resources Limited (NYSE:CNQ)’s largest investor. It owns 15 million shares that are worth $842 million.

3. Bank of Montreal (NYSE:BMO)

Trailing Twelve Months Net Income: $10.11 billion (1CAD = 0.75USD)

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

The Bank of Montreal (NYSE:BMO), as the name suggests, is a bank based in Montreal. It has a little over one thousand branches and provides loans, working capital management, savings accounts, and other financial products and services.

The Bank of Montreal (NYSE:BMO) scored a win in January 2023 when the U.S. Federal Reserve approved its application to acquire the Bank of the West in California. Nine of the 920 hedge funds surveyed by Insider Monkey for their September quarter of 2022 investments had owned a stake in the firm.

2. Royal Bank of Canada (NYSE:RY)

Trailing Twelve Months Net Income: $10.11 billion (1CAD = 0.75USD)

Number of Hedge Fund Holders In Q3 2022: 14

The Royal Bank of Canada (NYSE:RY) is Canada’s second largest bank as of 2021 with a total asset base of $1.3 trillion. It is headquartered in Toronto.

The Royal Bank of Canada (NYSE:RY) further expanded into the Canadian home listings market in January 2023, when it purchased the Canadian division of an American firm. By the end of last year’s third quarter, 14 of the 920 hedge funds surveyed by Insider Monkey had invested in the bank.

Israel Englander’s Millennium Management is Royal Bank of Canada (NYSE:RY)’s largest investor. It owns 157,506 shares that are worth $14 million.

1. The Toronto-Dominion Bank (NYSE:TD)

Trailing Twelve Months Net Income: $10.11 billion (1CAD = 0.75USD)

Number of Hedge Fund Holders In Q3 2022: 22

The Toronto-Dominion Bank (NYSE:TD) is Canada’s largest bank in terms of its assets, which stood at a massive $1.4 trillion as of 2021 end. The bank operates out of Toronto.

The Toronto-Dominion Bank (NYSE:TD) was out with a bit of bad news in February 2023 when it announced its merger with an American financial services firm at the end of May. Insider Monkey took a look at 920 hedge funds for their Q3 2022 investments to discover that 22 had held the firm’s shares.

Out of these, The Toronto-Dominion Bank (NYSE:TD)’s largest investor is D.E. Shaw’s D E Shaw which owns 648,901 shares that are worth $39 million.

Disclosure: None. You can also take a peek at 20 Stocks That Are Aggressively Buying Back Shares and 15 Biggest Chinese State-Owned Companies.

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