Despite trade-related concerns and macroeconomic uncertainty, a few high-quality Canadian stocks posted impressive gains last month. While these stocks have gained significantly in a short span, their durable business models, strong fundamentals, resilient demand, and solid execution position them well to outperform the broader equity market by a wide margin in 2026 and beyond.
With this background, here are two TSX stocks that are still excellent buys for 2026.
TSX stock for 2026 #1: MDA Space
MDA Space (TSX:MDA) has started 2026 with impressive momentum. The stock surged more than 44% in January, reflecting renewed investor confidence and its growing share in the rapidly expanding space economy. Even after this sharp rally, MDA Space remains a compelling investment for 2026 and for the long term.
MDA Space’s technology and solutions enable next-generation space infrastructure. The company provides advanced satellite systems, space robotics, and geointelligence solutions that support both commercial and government customers. Its technologies support space-based communications networks and Earth observation platforms — areas that are becoming increasingly important to global connectivity and national security.
The broader industry backdrop is highly supportive for this space technology company. The global space economy continues to expand at an accelerating pace, driven by rising demand for satellite broadband, defence-related capabilities, and data-rich Earth observation services. Governments are prioritizing space as a strategic domain, while private-sector players are investing heavily in satellite constellations and infrastructure to support everything from telecommunications to climate monitoring. MDA Space is well-positioned within this ecosystem.
Further, MDA Space’s robust order backlog provides revenue visibility, while a solid balance sheet offers the flexibility to invest in innovation and scale operations as demand grows. Overall, its technological leadership, strong industry tailwinds, and financial resilience create a solid foundation for sustained growth.
TSX stock for 2026 #2: Energy Fuels
Energy Fuels (TSX:EFR) stock soared over 53% last month. Despite the rally, the stock remains a buy for 2026 and a solid investment for long-term investors. It is one of the leading producers of uranium and rare earth elements. It also offers other critical materials. This diversified exposure positions the company to benefit from significant demand tailwinds led by decarbonization, electrification, and national energy security.
Further, as governments prioritize secure domestic supply chains, companies like Energy Fuels stand to benefit.
Uranium remains a key driver of the investment case. Demand for domestically produced uranium remains robust, supporting favourable pricing conditions. Energy Fuels’s low-cost production profile is already translating into rising revenues and healthy cash margins. As the company continues to improve operational efficiency and manage costs, gross margins are expected to expand further, strengthening profitability over time.
Beyond uranium, Energy Fuels is steadily expanding its rare earth elements business. It is one of the largest fully integrated rare-earth producers outside China, with capabilities that span oxides, metals, and alloys. This strategy aligns well with the growing demand for rare earths in clean energy technologies and advanced manufacturing. In addition, the company’s proposed acquisition of Australian Strategic Materials could further accelerate this growth and strengthen its competitive position in global supply chains.
As Energy Fuels ramps up its uranium projects and advances its rare-earth and heavy-mineral-sands initiatives, the company appears well-positioned to deliver solid returns.
