2 No-Brainer Canadian Stocks to Buy With $300 Right Now

Written by Jitendra Parashar at The Motley Fool Canada

When you’re investing for the long term, every penny matters more than you think. Because over time, even a few hundred dollars invested in the right stocks could turn into solid returns. With just $300 in hand, there are many fundamentally strong TSX-listed stocks to choose from with strong upside potential. But two of them are showing all the signs of becoming future compounders.

In this article, I’ll walk you through two top Canadian stocks that, in my view, are no-brainer stock buys if you’re thinking long term and looking to invest smartly.

The first no-brainer stock you can consider right now is SSR Mining (TSX:SSRM), which has been riding the wave of higher gold prices and backing it up with strong numbers. After delivering a stellar 248% gain over the last 12 months, its shares are now trading at $25.41 with a market cap of $5.15 billion.

This strong run in SSRM stock has been powered by multiple factors, but a key one is its ramp-up in production across its active mine sites, including the newly integrated Cripple Creek & Victor Gold Mine, which produced over 44,000 ounces of gold in the second quarter. With gold prices averaging above US$3,300 per ounce, SSR was able to significantly expand its profit margins.

As a result, the company’s total revenue rose 28% sequentially in the second quarter to US$405 million. Meanwhile, its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) margin surged to nearly 38%, while net profit jumped to US$110 million with the help of cost control measures, strong ore grades, and favourable prices.

Another important factor that sets SSR apart among top Canadian stocks to buy is its long-term growth setup. It holds four producing assets across the U.S., Türkiye, Canada, and Argentina, with a focus on gold, silver, and base metals. In addition, the company’s strong liquidity of over US$912 million, with no immediate debt concerns, gives it enough room to invest and expand.

Even with a big rally behind it, the story isn’t over. Continued margin expansion, asset diversification, and production ramp-ups make SSR a smart stock buy for investors with a long-term mindset.

The next no-brainer stock I want to highlight is Energy Fuels (TSX:EFR), which has been benefiting from the rise in demand for uranium and rare earths. Following a 140% surge over the last year, EFR stock is currently trading at $15.70 per share with a market cap of $3.63 billion.

Its Pinyon Plain uranium mine is considered one of the highest-grade in U.S. history, which helped Energy Fuels mine 665,000 pounds of uranium in the second quarter alone. The company expects to produce up to one million pounds of finished uranium this year, at an estimated cost of just US$23 to US$30 per pound. These plans could help the company achieve even higher uranium margins moving into 2026.