There are always those incredible stocks you look back on and wonder what could have happened if you’d bought them. These top Canadian stocks are great long-term investments and consistently grow year in and year out, rewarding long-term investors the earlier they get in.
And while the biggest names, like Shopify, get all the attention, other well-known stocks that also have incredible and consistent long-term returns aren’t nearly as appreciated.
For example, a company like Canadian National Railway is up over 400% in the last 10 years, or a compound annual growth rate (CAGR) of more than 17.5%. Furthermore, over the last 20 years, investors have earned a total return of over 2,000%, or a CAGR of 16.7%.
It’s these high-quality companies that are highly resilient and offer consistent long-term growth that you’ll thank yourself for buying later.
So if you’re looking for Canadian stocks to buy today, here are two of the best to consider.
A top Canadian asset manager
There’s no question that one of the best Canadian stocks you can buy for your portfolio is Brookfield Asset Management (TSX:BAM.A)(NYSE:BAM).
Brookfield is the perfect stock to buy and hold long-term. The company has proven for years that it can grow rapidly and consistently, its management team is some of the best in the business, and the company itself takes a long-term outlook when it comes to investments. This all makes it one of the most ideal stocks to buy for the core of your portfolio.
The massive company has a market cap of over $100 billion, showing the size and potential it has to make high-quality investments all around the world.
Plus, Brookfield’s business is rapidly gaining popularity. The company’s fee-bearing capital has tripled over the last five years, showing the appetite investors have for alternative investments. Furthermore, Brookfield wants to double its fee-bearing capital again over the next five years, which should lead to some significant growth for shareholders.
In addition, its renewable energy and infrastructure assets present some of the best long-term investments you can own today.
So if you’re looking to add a Canadian stock to your portfolio today, Brookfield is one you’ll look back on and be thankful you bought today.
A top Canadian agriculture stock
Another high-quality Canadian stock that’s worth buying and holding for years is Nutrien (TSX:NTR)(NYSE:NTR). Nutrien is a massive $50 billion company and a leader in the agriculture sector.
It’s one of the largest producers of potash and nitrogen, two key chemicals necessary to make fertilizer. The fact that the company is such a large producer already makes it an intriguing stock. However, Nutrien has taken it a step further, vertically integrating its operations to make it one of the best businesses you can buy today.
Nutrien’s massive network of retail stores is a major reason why the stock has had so much success and why it’s worth an investment today. In fact, the EBITDA that the retail stores earned in the second quarter accounted for nearly half of Nutrien’s total EBITDA.
While this industry can be cyclical, with prices of crops and fertilizer changing with supply and demand, it’s still an excellent investment for the long-term.
Healthier eating habits and a growing population are major tailwinds for the agriculture sector, giving it plenty of long-term growth potential.
So if you’re looking for a high-quality Canadian stock to buy today and hold for decades, Nutrien is one of the best to consider.
The post Canadian Stocks: 2 Long-Term Investments You’ll Thank Yourself for Buying Later appeared first on The Motley Fool Canada.
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Fool contributor Daniel Da Costa owns shares of Brookfield Asset Management Inc. CL.A LV and Nutrien Ltd. The Motley Fool owns shares of and recommends Brookfield Asset Management and Shopify. The Motley Fool recommends Brookfield Asset Management Inc. CL.A LV, Canadian National Railway, and Nutrien Ltd and recommends the following options: long January 2023 $1,140 calls on Shopify and short January 2023 $1,160 calls on Shopify.
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By: Daniel Da Costa
Title: Canadian Stocks: 2 Long-Term Investments You’ll Thank Yourself for Buying Later
Sourced From: www.fool.ca/2021/09/28/canadian-stocks-2-long-term-investments-youll-thank-yourself-for-buying-later/
Published Date: Tue, 28 Sep 2021 16:26:38 +0000
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