Best Long-term Canadian Stocks

Best Long-term Canadian Stocks

There’s a lot to be said for patience in investing. While the market often rewards those chasing momentum, long-term investors know that steady, consistent performers can quietly build serious wealth over time. That’s why mid-cap stocks — companies with room to grow but already past the risky early stages — deserve a closer look.

Here are the 4 best long-term Canadian stocks:

1. IAMGOLD (TSX:IMG)

IAMGOLD has had a standout year, with shares climbing over 90% as of late. Headquartered in Toronto, this gold miner has operations spanning North America and West Africa, with a focus on developing and operating high-quality gold assets.

At a recent price of $9.96 and a market cap of $5.7 billion, IAMGOLD is gaining traction thanks to surging gold prices and improved production efficiency. The Côté Gold Mine has begun contributing significantly to revenue, and the turnaround at the Westwood mine has further boosted profits.

With plans to scale production and expand reserves, IAMGOLD is positioning itself for sustained, long-term growth in the increasingly relevant gold sector.

2. Innergex Renewable Energy (TSX:INE)

For investors seeking exposure to the green energy transition, Innergex Renewable Energy is an excellent candidate. This renewable power producer operates hydro, wind, solar, and battery storage projects across multiple countries, including Canada, the U.S., Chile, and France.

With shares trading around $13.61 and a market cap of $2.8 billion, Innergex also offers an attractive 2.6% dividend yield. In its most recent quarter, the company posted a 13% increase in adjusted EBITDA year-over-year, driven by higher renewable energy output and new developments like the Boswell Springs wind project.

Innergex continues to expand its pipeline of projects while maintaining a self-sustaining growth model — a powerful combination for long-term investors.

3. Maple Leaf Foods (TSX:MFI)

Maple Leaf Foods is a household name in Canada, known for its meat products and growing presence in plant-based foods. Currently trading at $24.84 per share and with a market cap of approximately $3.1 billion, the company offers a solid 3.9% dividend yield.

Recent performance has been encouraging: fourth-quarter sales rose 4.3% year-over-year to $1.24 billion, while adjusted EBITDA soared 29% to $155 million. The benefits of investments in modern production facilities — like the new London poultry plant and Bacon Centre of Excellence — are starting to show.

With a focus on steady sales growth and operational efficiency, Maple Leaf is building a foundation for long-term profitability in a sector that’s always in demand.

4. Definity Financial (TSX:DFY)

Rounding out the list is Definity Financial, a mid-sized player in Canada’s property and casualty insurance sector. The company operates through recognizable brands such as Sonnet and Economical Insurance and is currently valued at around $4.6 billion with a share price near $39.20.

Definity has delivered solid results, with net premiums earned up 12.5% year-over-year in its latest quarter. Improved claims management helped boost underwriting income, while investments in digital platforms and broker relationships are enhancing its market position.

As a company focused on innovation and operational efficiency in a vital industry, Definity looks poised to provide consistent, compounding growth for long-term investors.

The Long View

These four Canadian mid-cap companies — IAMGOLD, Innergex, Maple Leaf Foods, and Definity Financial are the Best Long-term Canadian Stocks and they each operate in different sectors but share a common theme: resilience, growth potential, and long-term vision. For investors willing to take the “slow and steady” approach, these names could quietly deliver solid returns over the next 20 to 40 years.