Buy the Dip: 3 Stocks to Buy Today and Hold for the Next Five Years

The Canadian stock market has delivered strong performance over the past year, with the S&P/TSX composite index increase by about 30%. This progress was supported by interest rate cuts aimed at boosting economic growth. Additionally, robust momentum in resource-driven sectors, particularly mining companies tied to precious metals, and continued resilience in consumer spending lifted the broader market.

Even as the broader stock market has trended upward, shares of several fundamentally strong companies have retreated from recent highs. These short-term declines create an attractive entry point for investors with a long-term view of at least five years.

Against this backdrop, here are the three TSX stocks to buy today and hold for the next five years.

Cargo jet

Cargo jet (TSX:CJT) shares have pulled back significantly, presenting a buying opportunity for long-term investors. Shares of the Canadian air cargo leader are down about 32% from their 52-week high, pressured by weaker global trade and weaker international demand, which have hit its ACMI and charter businesses.

While short-term headwinds persist, Cargojet’s fundamentals remain solid. The company has a dominant position in the Canadian air freight market, has an efficient fleet, is likely to benefit from e-commerce tailwinds and relies on long-term contracts that help stabilize revenue during cyclical slowdowns. Importantly, the domestic operations continue to perform well, underscoring the resilience of the business model.

Further renewed agreements with major customers such as Amazon and DHL strengthen Cargojet’s prospects by improving earnings visibility and supporting cash flow stability. With shipping volumes recovering and demand improving within the charter and ACMI businesses, the company appears well positioned for a solid recovery.

MDA space

MDA space (TSX:MDA) has fallen sharply, with the stock down about 43% from its 52-week high. The decline was largely driven by contract-related concerns rather than a deterioration in the company’s core business. So this drop in shares of this space technology company provides a solid entry point for investors with long-term prospects.

Investor sentiment weakened after EchoStar canceled a multibillion-dollar satellite deal and sold its spectrum licenses to SpaceX. Nevertheless, MDA’s underlying fundamentals remain intact and demand for the technology and supply are high. The company is a global leader in digital satellites, space robotics and geo-intelligence, all of which are supported by rising demand in communications, defense and Earth observation. Additionally, the strong balance sheet provides financial flexibility as the space economy continues to grow.

With investment in end markets increasing, MDA appears well positioned for future growth, making the share price weakness attractive to investors.

SAFE Waste Infrastructure

Shares of SAFE Waste Infrastructure (TSX:SES) are down about 22% from their 52-week high amid weaker commodity prices and broader economic uncertainty. Despite the downturn, the company’s underlying businesses remain resilient.

SECURE manages a diversified portfolio of energy and waste infrastructure assets that generate stable, predictable cash flow. Much of the revenue comes from continued production and industrial activity rather than drilling cycles, reducing exposure to commodity volatility. In addition, efficiency initiatives and disciplined cost control further support margins.

While the metal recycling segment is under pressure from trade-related headwinds in the near term, conditions could improve in 2026. With major projects nearing completion, new growth initiatives increasing and Canadian oil and gas production remaining stable, SECURE’s long-term outlook remains constructive.