2 Red-Hot Growth Stocks to Buy in 2026

Instead of chasing hype to find quality growth stocks, it’s always better to look for businesses that are quietly building momentum through strong execution, smart expansion strategies, and clear long-term growth plans. When these factors come together, the results could be powerful for patient Foolish investors.

In 2026, a few top stocks in the mining and metals sector look really attractive for exactly these reasons. They are not only benefiting from favourable trends but are also actively positioning themselves for sustained growth. In this article, I’ll highlight two such Canadian growth stocks that seem to have the potential to deliver some eye-popping returns in the years ahead.

Almonty Industries stock: Riding the tungsten demand wave

Fool contributor Jitendra Parashar has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. (TSX:AII) stock has surged more than 700% over the last year and is currently trading at $29.98 per share, giving it a market cap of about $8.5 billion. This Toronto-based company mainly focuses on producing tungsten concentrate, a critical material used in industrial and defence applications. Its global operations span Portugal, South Korea, and Spain, with the Panasqueira mine acting as a key revenue contributor.

In the fourth quarter of 2025, Almonty’s revenue surged by 39% YoY (year-over-year) to $8.7 million. This growth was largely driven by a sharp rise in tungsten prices, with average ammonium paratungstate (APT) pricing jumping significantly to US$2,250 per metric tonne unit (MTU).

While the company reported a higher net loss due to non-cash accounting adjustments, its underlying operations remained strong. Notably, its cash reserves jumped to $268.4 million in the latest quarter following successful capital raises, giving it the financial flexibility to execute its growth plans.

Going forward, the expansion of Almonty’s Sangdong mine in South Korea could be a major catalyst. Last quarter, it also continued steady production from its Panasqueira mine in Portugal, helping support current revenue while Sangdong ramps up. These efforts could accelerate its growth further, making it an attractive growth stock to buy in 2026.

G2 Goldfields stock: Building a high-quality gold story

G2 Goldfields (TSX:GTWO) is another growth-focused mining firm that has delivered impressive returns. Its stock has climbed 250% over the past year and currently trades at $12.40 per share with a market cap of $3.2 billion.

The company is advancing its Oko Gold Project in Guyana, which hosts a sizeable resource of more than 3 million ounces of gold. What makes this project more interesting is its strong economics.

According to its preliminary economic assessment, the project could support a 10,000-tonne-per-day operation and produce about 3.2 million ounces of gold over 14 years. The estimated all-in sustaining cost (AISC) is US$1,175 per ounce, with an after-tax net present value of US$2.5 billion and an internal rate of return of 38%.

Beyond these numbers, G2 Goldfields continues to expand its resource base through active exploration. Its ongoing 100,000-metre drilling program is expected to further strengthen its long-term production outlook.

Why these growth stocks look attractive

Both Almonty Industries and G2 Goldfields share a few important qualities. They operate in sectors with strong long-term demand, they are actively investing in expansion, and they have clear strategies to scale their businesses. While their recent stock rallies may seem steep, their underlying growth drivers suggest there could still be room for further upside.

The post 2 Red-Hot Growth Stocks to Buy in 2026 appeared first on The Motley Fool Canada.

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Fool contributor Jitendra Parashar has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.