Agnico Eagle Mines is a top pick among Canadian stocks, backed by strong fundamentals and favorable gold market conditions. Analysts rate the company a consensus “Buy” with a 12-month price target averaging around C$140. This suggests a potential upside of 10-15% from current levels.
In recent quarters, Agnico Eagle Mines reported record gold production, increased free cash flow, and strong shareholder returns. The company has maintained a solid balance sheet with minimal debt. Despite trading at a premium valuation, AEM is supported by bullish technical signals and momentum.
Analysts are optimistic about continued earnings growth if gold prices remain strong. Brookfield Asset Management is another consensus “Buy” among analysts. The C$79 target forecast is based on the company’s strong financial performance and strategic growth initiatives.
Brookfield reported record fee-related earnings and significant fundraising success. This boosted its fee-bearing capital to approximately $550 billion. The company has expanded its presence in private credit and residential mortgage markets through strategic acquisitions.
While trading at a premium valuation with a P/E ratio around 40x, Brookfield’s robust earnings growth and solid capital deployment position it well for continued long-term value creation. Constellation Software is also rated a consensus “Buy” by analysts. The 12-month price target averages around C$4,700, supported by strong revenue and earnings growth prospects driven by the company’s successful acquisition strategy.
Constellation has demonstrated consistent cash flow generation and compounding. However, its elevated multiples reflect high expectations for continued execution and integration success.
Agnico backed by strong fundamentals
Investors appreciate the company’s durable business model and growth potential, though some caution remains due to risks inherent in its acquisitive approach. Dollarama Inc. is another “Buy” pick supported by strong financial performance and expansion plans.
Analysts have a consensus 12-month price target around C$191. The company reported a 4.9% increase in comparable store sales and net earnings per share of C$0.98 for the quarter ending May 4, 2025. This surpassed analyst expectations.
Dollarama reaffirmed its annual comparable sales expectations of a 3% to 4% rise. Analysts anticipate continued growth for Dollarama, with projected earnings per share of C$4.08 for FY2025 and C$4.51 for FY2026. Despite trading at a premium valuation, the company’s consistent performance and expansion initiatives contribute to its positive outlook.
Enbridge Inc. rounds out the top Canadian stock picks with a “Buy” rating. This is supported by strong financial results and a robust dividend track record.
The consensus 12-month price target is around C$66. In Q1 2025, Enbridge reported adjusted earnings per share of C$1.03, surpassing expectations. The company achieved a record throughput of 3.2 million barrels per day on its Mainline system.
Enbridge also benefited from its recent acquisition of three utilities from Dominion Energy, which significantly increased its gas distribution earnings. The company maintains a strong dividend yield of approximately 5.8%, with a 53-year history of dividend payments. Enbridge’s diversified infrastructure and regulated revenue streams position it well for continued growth and stability.
