20 Canadian Stocks to Trade in 2024

The Canadian stock market offers a wealth of opportunities for investors seeking diversification and growth potential. From established giants to exciting up-and-comers, Canadian companies represent a diverse range of industries and sectors. Let’s explore Canadian stocks to buy in 2024 together.

This list highlights 20 diverse Canadian stocks that could be worth considering for your trading portfolio.

• BCE Inc. (Ticker: BCE.TO)

• Industry: BCE operates in the communication services sector. They provide telecommunications and media services, including wireless, internet, and television.
• Last Year Stock Performance: BCE’s stock quote had a modest decline of approximately 0.4%. Despite the slight dip, BCE remains a stable player in the Canadian telecom industry.
  

• Shopify Inc. (Ticker: SHOP.TO)
  

1. 1. • Industry: Shopify is a major player in the computer and technology sector. They offer e-commerce solutions, enabling businesses to set up online stores.
      • Last Year Stock Performance: Shopify’s stock experienced significant growth, with a positive return of around 0.8%. Their innovative platform continues to attract businesses worldwide.
        

• Barrick Gold Corp. (Ticker: ABX.TO)
  

1. 1. • Industry: Barrick Gold operates in the basic materials sector, specifically gold mining. Their performance is closely tied to fluctuations in gold prices.
      • Stock Performance: Due to gold price volatility, Barrick Gold stock quote performance can vary. Traders should monitor market conditions.
        

• Royal Bank of Canada (Ticker: RY.TO)

1. 1. • Industry: RBC is a prominent player in the financial services sector, focusing on banking and financial solutions.
      • Last Year Stock Performance: RBC had a slight decline of approximately 0.2%. As one of Canada’s largest banks, RBC remains resilient.
        

• Toronto-Dominion Bank (Ticker: TD.TO)
  

1. 1. • Industry: TD Bank also operates in the financial services sector. They provide banking, wealth management, and insurance services.
      • Last Year Stock Performance: TD Bank’s stock declined by approximately 0.4%. Like other banks, it faced challenges but remains a key player.
        

• Enbridge Inc. (Ticker: ENB.TO)
  

1. 1. • Industry: Enbridge operates in the energy sector, specifically pipelines. They transport oil, natural gas, and renewable energy.
      • Last Year Stock Performance: Enbridge’s stock had a modest decline of around 0.3%. Their infrastructure assets are critical for energy transportation.
        

• Canadian National Railway Company (Ticker: CNR.TO)
  

1. 1. • Industry: CN Rail is in the industrials sector, focusing on railroads. They play a vital role in freight transportation.
      • Last Year Stock Performance: CN Rail had a slight increase of approximately 0.2%. Efficient rail networks contribute to Canada’s economy. 
        

• Fortis Inc. (Ticker: FTS.TO)
  

1. 1. • Industry: Fortis operates in the utilities sector, providing electricity and gas services.
      • Last Year Stock Performance: Fortis’ stock had a positive return. Their stable utility operations appeal to income-seeking investors.
        

• Brookfield Asset Management Inc. (Ticker: BAM-A.TO)
  

1. 1. • Industry: Brookfield is in the financial services sector, specializing in asset management, real estate, and infrastructure.
      • Last Year Stock Performance: Brookfield’s stock performance can vary based on their diverse portfolio and market conditions.
        

• Canadian Pacific Railway Limited (Ticker: CP.TO)
  

1. 1. • Industry: CP Rail operates in the industrials sector, providing rail transportation services.
      • Last Year Stock Performance: CP Rail had a modest increase. Their efficient rail network contributes to Canada’s trade.
        

• Restaurant Brands International Inc. (Ticker: QSR.TO)
  

1. 1. • Industry: Restaurant Brands International operates in the consumer cyclical sector, specifically fast food. They own popular brands like Tim Hortons, Burger King, and Popeyes.
      • Last Year Stock Performance: Restaurant Brands International’s stock performance can vary based on industry trends and consumer preferences.
        

• Telus Corporation (Ticker: T.TO)
  

1. 1. • Industry: Telus is in the communication services sector, providing telecom services, including wireless, internet, and TV.
      • Last Year Stock Performance: Telus’ stock had a positive return. Their strong customer base contributes to their stability.
        

• Pembina Pipeline Corporation (Ticker: PPL.TO)
  

1. 1. • Industry: Pembina operates in the energy sector, specifically pipelines and midstream services.
      • Last Year Stock Performance: Pembina Pipeline’s stock performance can vary based on energy market dynamics and infrastructure projects.
        

• Canadian Natural Resources Limited (Ticker: CNQ.TO)
  

1. 1. • Industry: CNRL is in the energy sector, focusing on oil and gas exploration and production.
      • Last Year Stock Performance: CNRL’s stock had a modest decline of around 0.5%. Oil prices significantly impact their performance.
        

• Suncor Energy Inc. (Ticker: SU.TO)
  

1. 1. • Industry: Suncor operates in the energy sector, with interests in oil sands, refining, and marketing.
      • Last Year Stock Performance: Suncor Energy’s stock had a slight decline of approximately 0.2%. Like other energy companies, they face market volatility.
        

• Loblaw Companies Limited (Ticker: L.TO)
  

1. 1. • Industry: Loblaw is in the consumer defensive sector, specifically retail. They operate grocery stores, pharmacies, and other retail outlets.
      • Last Year Stock Performance: Loblaw’s stock had a positive return. Their essential services remained in demand during challenging times.
        

• Canadian Utilities Limited (Ticker: CU.TO)
  

1. 1. • Industry: Canadian Utilities operates in the utilities sector, providing electricity and gas services.
      • Last Year Stock Performance: Canadian Utilities’ stock performance can vary based on market conditions and regulatory factors.
        

• TC Energy Corporation (Ticker: TRP.TO)
  

1. 1. • Industry: TC Energy is in the energy sector, primarily focused on pipelines and energy infrastructure.
      • Last Year Stock Performance: TC Energy’s stock had a modest decline. Their pipeline network remains crucial for energy transportation.
        

• Rogers Communications Inc. (Ticker: RCI-B.TO)
  

1. 1. • Industry: Rogers Communications operates in the communication services sector, providing telecom and media services.
      • Last Year Stock Performance: Rogers Communications’ stock performance can vary based on industry trends and technological advancements. 
        

• Brookfield Renewable Partners LP (Ticker: BEP-UN.TO)
  

1. • Industry: Brookfield Renewable Partners is in the utilities sector, specifically renewable energy (hydro, wind, solar).
   • Last Year Stock Performance: Brookfield Renewable Partners’ stock performance can vary based on the growth of the renewable energy sector.

Let’s explore why trading CFDs on these Canadian stocks could be good.
Here’s it goes

• Leverage can boost your gains, but remember, it can also magnify losses, so use it with caution.

• CFDs can help you build a diverse portfolio, which can be a good way to manage risk.

• With CFDs, you can take a “short” position and potentially profit even if the price drops. This flexibility isn’t available with traditional stock purchases.

• Unlike owning stocks outright, CFDs don’t come with the baggage of physical ownership. You simply speculate on price movements, without the responsibility of holding the actual shares.

• You can trade around the clock, even when the Canadian stock market is closed. This global accessibility is a perk for traders in different time zones.

• CFDs can be used as a “hedge” to potentially offset any losses. It’s like adding a safety net to your portfolio.

• While CFDs generally have lower transaction costs compared to traditional stock purchases, keep an eye out for overnight financing charges that might apply.
  
  
• Most CFD platforms come equipped with tools like stop-loss orders and take-profit levels, allowing you to set predefined exit points and manage your risk effectively.

• The great thing about CFDs is that you’re not limited to just profiting from rising stock prices. You can also speculate on falling prices by going “short,” opening up more potential opportunities.
  
  
• CFDs can provide access to smaller companies that might not be readily available on major exchanges expanding your investment horizons.

• The upfront capital required for CFDs is typically lower compared to traditional stock purchases. This can be a good starting point for traders with limited funds.

• Depending on your location, CFDs may offer tax advantages compared to buying physical shares. For example, UK traders might benefit from avoiding stamp duty taxes.

Conclusion

In this overview of 20 Canadian stocks to consider trading in 2024, we’ve explored a diverse range of companies across various sectors. Each stock brings its unique characteristics and opportunities, catering to different trading preferences.

Remember that trading involves risks, and thorough research is essential. Here are some key takeaways:

• Consider a mix of stocks from different industries to spread risk. A well-balanced portfolio can withstand market fluctuations.
• Keep track of industry trends, economic conditions, and company-specific developments. Regularly review financial reports and news.
• Set clear investment goals and establish risk management strategies. Use stop-loss orders and diversify your holdings.

These Canadian stocks offer intriguing opportunities.
Good Luck!