The TSX offers countless investment opportunities, but the best Canadian stocks to buy right now for $2,000 include Barrick Mining (TSX:ABX), North West Company (TSX:NWC), and Brookfield Renewable Partners (TSX:BEP.UN). This selection combines gold-driven momentum, defensive income and sustainable long-term growth.
Gold standard
Barrick Mining is not only the gold standard in the Canadian mining industry, but is also the perfect hedge against economic instability. Gold prices are rising towards US$5,000 per ounce this month as geopolitical tensions escalate. People are hedging and looking for certainty.
With a market capitalization of $116.6 billion, Barrick is the tenth largest Canadian company. Based on published data, the miner’s third quarter (Q3) 2025 all-in sustaining cost (AISC) to keep mines operational and produce gold is $1,562 per ounce. The latest gold price is $4,780.
That’s why Barrick’s free cash flow (FCF) rose 233% to $1.47 billion during the quarter compared to the third quarter of 2024. Group Chief Operating Officer, Interim President and CEO Mark Hill said: “Higher gold production combined with lower costs and strong commodity prices delivered record cash flow for Barrick in the third quarter.”
In terms of performance, ABX mirrors the 2025 bull run of the TSX. At $67.84 per share, its one-year price return is +202.51%. Current investors are enjoying a year-to-date gain of 13.5%, in addition to the modest but safe 1.39% dividend.
Defensive holding
The North West Company is one of the longest operating retail companies in the world. You would invest in defensive stocks and earn bulletproof dividend income. NWC trades at $49.45 per share and pays a 3.35% dividend. The track record of continuous payments is 14 years.
The $2.3 billion retailer targets underserved rural communities and urban neighborhood markets in Northern and Western Canada, rural Alaska, the South Pacific Islands and the Caribbean. Their stores in these hard-to-reach areas are the retail choice for the daily household and local lifestyle needs of people in the communities.
The multibillion-dollar diversified company reports consistent profitability every year, although it fluctuates depending on the sales environment and foreign currency exchange rates.
AI infrastructure game
Brookfield Renewable is both a growth and an income stock. The $11.7 billion utility owns and operates renewable energy generation facilities such as hydro, solar and wind power. It also benefits from the accelerated build-out of artificial intelligence (AI) infrastructure and the growing energy demand from data centers.
In May 2024, Brookfield Renewable and Microsofttogether with Brookfield Asset Managementsigned a global framework agreement for renewable energy. Under the five-year agreement, Brookfield will develop more than 10.5 gigawatts of new renewable energy capacity for Microsoft in the US and Europe between 2026 and 2030.
In terms of an investor’s earning potential, BEP.UN pays a hefty 5.27% and targets distribution growth of 5% to 9%. If you invest today, the stock price will be $38.76.
Journey to financial freedom
Your $2,000 can go a long way if you invest in high-quality Canadian stocks. By developing the habit of saving and investing, you begin a long-term journey to building wealth.
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