Top Stocks That Roared Last Month and Remain Strong for 2026

Strong Performers in a Challenging Market

Despite ongoing trade-related concerns and macroeconomic uncertainties, several high-quality Canadian stocks have shown impressive gains over the past month. These stocks have not only performed well in a short period but also possess durable business models, strong fundamentals, and resilient demand. Their solid execution positions them to outperform the broader equity market significantly in 2026 and beyond.

With this context, here are two Toronto Stock Exchange (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, defense-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.

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 favorable pricing conditions. Energy Fuels’ 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.

Key Considerations for Investors

Before making any investment decisions, it is essential to evaluate the potential risks and rewards. For instance, while MDA Space has shown strong performance, it may not be included in all investment recommendations. Some analysts have highlighted other promising stocks that could offer substantial returns in the coming years.

Investors should also consider the historical performance of similar investments. For example, a stock like MercadoLibre, which was recommended in 2014, has delivered significant returns over the years. This highlights the importance of identifying strong, long-term opportunities.

In conclusion, both MDA Space and Energy Fuels present compelling investment opportunities for 2026. Their strong fundamentals, industry positioning, and growth potential make them attractive options for investors looking to build a diversified portfolio. However, it is crucial to conduct thorough research and consult with financial advisors before making any investment decisions.