Top 5 Canadian Stocks to Watch this Week

Top Stocks (Canada)

Looking into this week’s trading sessions, several Canadian stocks are attracting attention across diverse sectors, from banking and infrastructure to gold mining and industrial equipment.

Here’s a detailed look at five notable companies, including analyst consensus ratings, price targets, and expected upside potential:

Agnico Eagle Mines Ltd. (AEM:CA) is a senior gold miner with diversified global operations that benefit from rising gold prices and strong free cash flow generation. Analysts maintain a “Buy” consensus rating, with an average price target of approximately C$268.50, representing an expected upside of about 17.5%. Investors are drawn to AEM for its ability to capitalize on commodity tailwinds and deliver steady performance in the precious metals sector.

Royal Bank of Canada (RY:CA) continues to stand out as a core pick for stability and income. As Canada’s largest bank by market capitalization, it operates across personal banking, wealth management, and capital markets. Analysts give RY a consensus rating of “Strong Buy”, with an average 12 month target of C$212 per share, suggesting modest upside of around 2.4%. The bank’s diversified operations and strong fundamentals make it a favored choice for investors seeking stability in the Canadian market.

Stantec Inc. (STN:CA), is a leading engineering and infrastructure firm, is well-positioned to benefit from ongoing government and private sector projects in Canada and internationally. Analysts assign STN with a consensus “Buy” rating, with an average 12 month target of C$165.00, reflecting roughly 5% upside potential. Strong backlog growth and improving margins support the positive outlook, making STN an attractive pick for those seeking growth linked to infrastructure development.

Lundin Gold Inc. (LUG:CA) offers exposure to the gold mining sector but with a more cautious outlook. While the company has shown strong recent momentum, and analysts maintain a consensus “Hold” rating, with an average 12 month target of C$91.50, indicating a potential downside of 4.4%. Investors should note the higher volatility associated with commodity price swings and operational risks inherent in mining companies.

Hammond Power Solutions Inc. (HPS-A:CA) operates in the industrial and electrical equipment sector, benefiting from infrastructure spending and the ongoing electrification trend. Analysts assign a consensus “Buy” rating, though some valuation concerns are reflected in its average 12 month target of C$152.00, which implies a potential downside of 15% from current levels. HPS-A’s strategic position in industrial equipment provides long-term growth opportunities despite short-term risk.

This week’s top Canadian stocks to watch, represents a balanced mix of stability, income, growth, and commodity exposure. Investors seeking defensiveness may favour Royal Bank and Stantec, while those pursuing commodity leverage could consider Agnico Eagle and Lundin Gold. Hammond Power offers industrial sector growth potential, albeit with higher volatility.

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