Source: Getty Images
With several different factors impacting the stock market and economy, there’s a lot for investors to keep track of. One thing’s for sure, though, Canadian mining stocks are some of the best to buy now as they realize significant tailwinds in the current environment.
Due to sky-high commodities prices, many commodities were already experiencing major booms. Inflation at levels we haven’t seen in decades. The war in Ukraine is having a significant effect.
Both Russia and Belarus have been subject to severe sanctions. And these almost certainly won’t be short-term sanctions. Therefore, the production of key commodities will have to be sourced from other countries. This will allow many Canadian stocks to have a lot of short- to medium-term potential.
Therefore, if you’re looking to gain exposure and buy some of the best Canadian mining stocks, here are three you may want to buy, as they are realizing significant tailwinds today.
Gold stocks are a great investment now
Gold prices usually rise when there is more uncertainty. So if you’re looking to add protection to your portfolio, or are just looking to increase your exposure to the yellow metal, B2Gold (TSX:BTO)(NYSEMKT:BTG) is one of the best Canadian stocks to buy now.
Investors have always been able to get exposure to the gold price through gold stocks. They weren’t great long-term growth stock options because of their volatility and how they performed when they were outof favor.
With B2Gold, you don’t have to worry about that. It’s one of the lowest-cost producers in the industry, giving it several advantages. It also has a strong balance sheet due to its net cash position. And most importantly, because it’s a low-cost operator, B2Gold pays a dividend, one of the most attractive of any gold stock you can buy.
So if you’re looking for Canadian mining stocks to buy in this environment, I’d consider B2Gold soon. The stock has seen a 15% increase since the war broke out.
One of the best Canadian stocks to invest in and keep for years
One of Canada’s most popular stocks, and easily one of best Canadian stocks to own for decades, is Nutrien (TSX:NTR)(NYSE:NTR).
Nutrien is one of the most important potash producers in the world. The company is a large fertilizer producer and is increasing its production rapidly to offset the recent sanctions.
But while Nutrien is realizing a significant tailwind today, it’s more than just a mining company and has always been a high-quality investment and one of the best Canadian stocks you can buy.
One of the most important reasons Nutrien is such a high-quality investment is that it’s vertically integrated. Nutrien is more than a producer. It also owns and runs processing facilities and has a large retail segment.
Furthermore, Nutrien’s vertical integration makes it an ideal stock to add to your portfolio.
There’s no question, though, that almost all of its recent growth is due to external tailwinds. With that being said, without Nutrien being a high-quality company that dominates its industry, it wouldn’t be able to take full advantage of the situation as it is now.
So if you’re looking for top Canadian mining stocks to buy, Nutrien has always been one of the best there is.
Other commodities and industries like uranium also see a significant tailwind. That’s why another stock seeing a significant boost lately is Cameco. The producer has increased by 33% since the war began, while the price of uranium has risen by almost 50%
So if you’re looking for high-quality Canadian stocks to buy now, top-notch mining stocks are some of the best to consider.