The Canadian inventory market has began 2026 with heightened volatilityas worries about tech valuations and fluctuating commodity costs maintain buyers on edge. In such an unsure market atmosphere, progress shares with seen money flows, disciplined execution, and long-term demand tailwinds are more and more wanting extra engaging. Consequently, companies which have just lately demonstrated earnings momentum whereas persevering with to spend money on future progress are standing out from the group this yr.
On this article, I’ll speak about two Canadian shares that match this profile. Curiously, these TSX-listed corporations are coming into the subsequent section of progress with robust monetary bases and catalysts that might drive significant upside properly past 2026.
Kinross Gold inventory
Kinross Gold (TSX:Okay) operates a diversified portfolio of gold mines throughout the USA, Brazil, Mauritania, Chile, and Canada, giving it publicity to a number of the world’s best and steady mining areas. During the last yr, the corporate has benefited massively from stable gold costs whereas sustaining disciplined value management and operational execution. That mixture has additionally translated into distinctive monetary efficiency.
On the time of writing, Kinross inventory traded round $42.75 per share, giving it a market cap of about $51.6 billion. Within the third quarter of 2025, the corporate generated a report US$686.7 million in attributable free money movement. In the meantime, its adjusted internet earnings surged 77% YoY (year-over-year), backed by robust margins and a realized gold worth of roughly US$3,460 per ounce.
One of many primary components that strengthens Kinross’s progress outlook in 2026 is how that money movement is being deployed. The corporate completed the September quarter with a internet money place of US$485 million, elevated its dividend by 17%, and expanded its 2025 share buyback goal to US$600 million. On the identical time, Kinross continues to advance high-quality progress tasks reminiscent of Nice Bear in Ontario and Section X at Spherical Mountain. These belongings are anticipated to increase their mine life, assist steady manufacturing by way of not less than 2027, and supply long-term optionality with out stressing the stability sheet.
MDA House inventory
Whereas Kinross advantages from beneficial commodity costs, MDA House (TSX:MDA) is using a really totally different however equally highly effective development linked to the accelerating international demand for area infrastructure. As a trusted mission associate, MDA gives satellite tv for pc programs, robotics, and geointelligence options to authorities and industrial prospects, typically beneath long-term contracts that present robust income visibility.
MDA inventory just lately traded close to $35 per share, giving it a market cap of about $4.4 billion. The corporate’s progress momentum was clear within the third quarter of 2025, when its income climbed 45% YoY to about $410 million. Equally, its adjusted EBITDA (earnings earlier than curiosity, taxes, depreciation, and amortization) rose 49% YoY to $82.8 million, whereas margins remained steady at 20.2%, highlighting the scalability of its operations.
One primary clear signal of MDA’s future progress potential is its stable backlog. On the finish of the latest reported quarter, the corporate had a backlog of $4.4 billion, offering multi-year income visibility extending properly past 2026. This backlog is being pushed primarily by the speedy growth of its Satellite tv for pc Methods section, supported by main packages reminiscent of Telesat Lightspeed, Globalstar’s next-generation low Earth orbit constellation, and its continued ramp-up of Canadarm3 beneath its robotics & area operations enterprise.
With low leverage, enhancing profitability, and sustained demand for space-based communications and infrastructure, MDA House appears well-positioned to compound earnings as international area spending continues to rise.