2 Canadian Stocks Primed to Break Out in 2026

If the market temporarily fails to appreciate how quickly an industry is growing, Foolish investors can sometimes find incredible opportunities early. That’s how some of the market’s strongest growth stories begin – quietly at first, before broader momentum takes over.

Right now, two Canadian growth stocks seem to fit that setup. One company is benefiting from increasing investment in satellites, robotics, and the growing global space economy. The other is benefiting from rising copper demand as electric vehicles (EVs), renewable energy, and infrastructure projects continue growing across the world. Both stocks have recently surged, but their industries still appear positioned for significant long-term growth.

Let me explain why these Canadian stocks could continue surprising investors in 2026 and beyond.

MDA Space stock

The first stock that fits this category is MDA Space (TSX:MDA), especially as it continues gaining traction in the rapidly expanding global space industry. This Toronto-based company operates across several high-growth segments, including satellite systems, robotics and space operations, and geointelligence solutions.

Over the last six months alone, MDA stock has surged by an incredible 142%. As a result, the stock currently trades at $53.79 per share with a market cap of $7.5 billion.

This rally in MDA stock has been backed by strong operational execution and rapidly growing demand across the space economy. In the first quarter, the company generated $464.1 million in revenue, reflecting a sharp 32.2% year-over-year (YoY) increase. Its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) also climbed 32.1% YoY to $90.6 million, while adjusted net profit rose 32% to $50.7 million.

MDA’s satellite systems business remained its biggest growth driver, with segment revenue jumping 41% YoY to $313.1 million, supported by higher work volumes on the Telesat Lightspeed and Globalstar next-generation low Earth orbit satellite programs. Its robotics and space operations segment also delivered solid growth, with revenue rising 18.5% YoY to $91.6 million.

The broader industry backdrop for MDA also remains highly favourable as governments and private companies continue increasing investments in satellite infrastructure, Earth observation systems, and defence-related space technologies. This is one of the key reasons why the company ended the quarter with a solid backlog of $3.7 billion and a massive $40 billion opportunity pipeline, giving it strong long-term revenue visibility.

MDA’s diversified business model and growing presence across commercial, government, and defence programs could help sustain its momentum well beyond 2026.

Taseko Mines stock

While MDA offers exposure to the space economy, Taseko Mines (TSX:TKO) provides investors with a very different but equally attractive growth story linked to a surge in global copper demand. The Canadian mining firm focuses primarily on copper production through assets such as the Gibraltar mine in British Columbia and the Florence Copper project in Arizona.

TKO stock currently trades at $10.50 per share with a market capitalization of $3.8 billion. Over the last year, the stock has skyrocketed by 266%, making it one of the strongest-performing mining stocks on the TSX.

A big part of that momentum in TKO stock has been driven by improving financial performance and stronger operational execution. In the March quarter, Taseko posted adjusted EBITDA of $93 million, up 172% YoY. At the same time, its revenue reached $237 million as the company sold 27 million pounds of copper alongside 708,000 pounds of molybdenum.

Its Gibraltar mine continued delivering stable production levels, while the Florence Copper project officially began operations and produced 1.5 million pounds of copper cathode during the quarter. That additional low-cost production could become an important driver of future cash flow growth.

To accelerate its growth further, Taseko also maintains a pipeline of additional large-scale projects, including the Yellowhead copper project and the New Prosperity copper-gold project.

With copper demand expected to rise due to EVs, renewable energy infrastructure, and grid modernization projects, Taseko appears well-positioned to benefit from long-term industry tailwinds.

The post 2 Canadian Stocks Primed to Break Out in 2026 appeared first on The Motley Fool Canada.

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More reading

• 2 Canadian Stocks That Look Primed for a Strong 2026
• New to Investing? 3 Canadian Stocks to Start With
• 2 Canadian Stocks Primed to Surge in 2026
• 5 Canadian Stocks to Hold for the Next Decade
• 3 Stocks to Buy and Hold for 2026 and Beyond

Fool contributor Jitendra Parashar has positions in MDA Space. The Motley Fool recommends MDA Space. The Motley Fool has a disclosure policy.