Worried About a Bear Market in 2026? 3 Stocks for Peace of Mind

With bear market jitters building for 2026 amid economic slowdown fears and volatile markets, savvy Canadian investors need defensive plays that deliver reliable income and resilience. These three top-tier stocks currently stand out for their fortress-like fundamentals, offering portfolio protection through steady dividends and strong balance sheets.

Agnico Eagle Mines

Agnico Eagle Mines (TSX:AEM) is your ultimate bear market shield, thanks to its dominant position in low-cost gold production.

This is a company with a business model that thrives when equities tank and safe-haven demand surges. With trailing 12-month earnings per share of $8.92 and a net profit margin of 37.5%, this miner’s profitability is rock-solid. That’s due in part to gold prices holding firm above $5,000 an ounce in early 2026. However, the other key part of the story here is the company’s status as a leading operator in its sector, enabling investors to benefit from incredible efficiencies.

With a solid balance sheet supported by a debt-to-equity ratio that sits at a pristine 0.8%, Agnico Eagle is a company with unmatched financial flexibility to weather downturns without slashing payouts.

Enbridge

Another top Canadian defensive gem I continue to pound the table on is Enbridge (TSX:ENB).

This pipeline powerhouse is the income machine every bear-wary investor craves. With a business model driven by fee-based contracts (locking in 98% of earnings regardless of oil price swings or recessions), the company’s reaffirmed 2026 guidance highlights why I like this name. Enbridge’s management team now expects to see $20.2–20.8 billion and DCF per share of $5.70–6.10 this year. That’s up 4% from 2025 midpoints, fueled by $8 billion in new projects entering service.

Indeed, with a 31st straight dividend hike to $0.97 quarterly ($3.88 annualized), Enbridge delivers a juicy 5.4% yield, covered by robust cash flows despite a higher payout ratio. With a robust and defensive market positioning, I think Enbridge deserves its recent rally and should be at least considered by most long-term investors.

Manulife Financial

Lastly, we come to insurance and wealth management giant Manulife Financial (TSX:MFC)

Shares of MFC stock have also been on a tear of late, as investors look to gain increased exposure to companies benefiting from declining interest rates and a steepening yield curve. That’s part of the story here.

The other key piece I continue to focus on is the fact that Manulife is the bear-proof dividend grower you need. The company blends recurring float income with a conservative balance sheet that shines in volatility. Earnings easily cover dividends, with a payout ratio of 57% and cash payout at just 10.1%, leaving ample room as earnings grow.

And over the past five years, the company’s dividend per share has compounded at a near-double-digit rate (never mind factoring in the capital appreciation investors have seen). Bottom line is this is a top total return stock I’d buy for the long haul, recession or not.

The post Worried About a Bear Market in 2026? 3 Stocks for Peace of Mind appeared first on The Motley Fool Canada.

Should you invest $1,000 in Agnico Eagle Mines right now?

Before you buy stock in Agnico Eagle Mines, consider this:

The Motley Fool Canada team has identified what they believe are the top 10 TSX stocks for 2026… and Agnico Eagle Mines wasn’t one of them. The 10 stocks that made the cut could potentially produce monster returns in the coming years.

Consider MercadoLibre, which we first recommended on January 8, 2014 … if you invested $1,000 in the “eBay of Latin America” at the time of our recommendation, you’d have $20,155.76!*

Now, it’s worth noting Stock Advisor Canada’s total average return is 90%* – a market-crushing outperformance compared to 81%* for the S&P/TSX Composite Index. Don’t miss out on our top 10 stocks, available when you join our mailing list!

Get the 10 stocks instantly #start_btn6 { background: #0e6d04 none repeat scroll 0 0; color: #fff; font-size: 1.2em; font-family: 'Montserrat', sans-serif; font-weight: 600; height: auto; line-height: 1.2em; margin: 30px 0; max-width: 350px; text-align: center; width: auto; box-shadow: 0 1px 0 rgba(0, 0, 0, 0.5), 0 1px 0 #fff inset, 0 0 2px rgba(0, 0, 0, 0.2); border-radius: 5px; } #start_btn6 a { color: #fff; display: block; padding: 20px; padding-right:1em; padding-left:1em; } #start_btn6 a:hover { background: #FFE300 none repeat scroll 0 0; color: #000; } @media (max-width: 480px) { div#start_btn6 { font-size:1.1em; max-width: 320px;} } margin_bottom_5 { margin-bottom:5px; } margin_top_10 { margin-top:10px; }

* Returns as of February 17th, 2026

More reading

• High-Yield Gems: 2 Dividend Stocks Canadian Retirees Should Consider
• Top Canadian Stocks to Buy With $5,000 Right Now
• Better Than Bonds? 3 Defensive Stocks to Consider When Volatility Picks Up
• Want to Beat the Market in 2026? 3 Stocks to Buy Early This Year
• 2 Safer, High-Yield Dividend Stocks for Canadian Retirees

Fool contributor Chris MacDonald has no position in any of the stocks mentioned. The Motley Fool recommends Enbridge. The Motley Fool has a disclosure policy.