A strategy based on small but steady contributions can make a meaningful difference, especially when investing in companies with strong growth prospects.
So if you want to put your $500 to work, here are the smartest TSX stocks to buy right now.
MDA space
MDA space (TSX:MDA) is one of the smartest TSX stocks to buy right now. The shares of this space technology company have witnessed a steep sell-off. The stock tumbled after a major satellite order was canceled, hurting market confidence in the short term. However, this drop is a solid buying opportunity as MDA Space will benefit from rising demand for its offering.
MDA Space specializes in next-generation satellites, robotics and geo-intelligence solutions. These technologies are becoming increasingly important as global demand for high-speed communications grows and defense budgets continue to rise. National security priorities are shifting beyond Earth’s atmosphere, and NATO’s renewed emphasis on space offers a solid opportunity for growth.
MDA’s investments in advanced communications platforms designed for broadband and 5G connectivity position the company to capitalize on the growth of satellite data services. Additionally, growing demand for Earth observation tools and robotic systems from government and commercial customers presents significant growth opportunities.
Importantly, MDA Space has a strong project backlog, which will support growth. In addition, the solid balance sheet provides the flexibility to pursue mergers and acquisitions that can accelerate innovation and market expansion.
Bird construction
Bird construction (TSX:BDT) is another attractive investment. The construction and maintenance company has consistently delivered strong financial performance and benefits from a strong presence in key domestic markets. Bird’s broad footprint provides access to critical sectors, ensuring reliable financial performance year after year.
Bird’s company benefits from its collaborative contracting model. Rather than taking on the full weight of project risk, the company is sharing responsibility with customers, a smart move that will help protect margins and keep the business resilient during tougher economic periods. The company’s focus on lower-risk projects in key areas such as energy infrastructure, transportation systems and defense adds stability to its business and boosts its financial position.
Bird’s diversified operations and growing backlog of projects set the stage for further growth. With a balance sheet that supports future investments, Bird Construction is well positioned to pursue acquisitions that can further strengthen its market position.
easy
easy (TSX:GSY) is one of the smartest TSX stocks to buy right now, offering growth, income and value. Shares of this subprime lender are down about 42% in the past three months. The decline was caused by a short seller report. In addition, higher loan loss provisions, an increase in financing costs and a strategic pivot to secured lending negatively impacted short-term profitability.
Nevertheless, the company’s fundamentals remain solid and are expected to benefit from robust loan demand driven by a large segment of the population that remains underserved by traditional banks. Furthermore, its diversified financing sources, proven omnichannel strategy and stable credit performance position the company well to further expand its customer base while managing risks. Furthermore, the focus on driving operational efficiency will soften margins and the bottom line.
goeasy stock is trading at a discounted valuation, making it a buy. Furthermore, GSY shares offer an attractive dividend yield of approximately 4.7%.
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