3 Blue-Chip Stocks Every Canadian Should Own

Blue-chip stocks will not make you rich overnight, but most Canadians build real wealth with them. You usually get a large business with durable demand, proven profits, and the balance sheet to keep investing through recessions, rate shocks, and ugly headlines. You still take risk, and a blue chip can still disappoint, but it rarely survives on hope. It survives on cash, scale, and discipline. So let’s look at two that bring down the risk, and up the rewards.

AEM

Agnico Eagle Mines (TSX:AEM) is a top Canadian gold producer with mines in stable jurisdictions and a management team that sweats the details. The Canadian stock surged over the past year. That kind of move can cool, but gold still acts like portfolio insurance when inflation, politics, and rate expectations clash. Going into 2026, the big question is whether it can keep converting strong gold prices into clean cash flow.

Its third-quarter 2025 results made a strong case. It posted net income of US$1.06 billion, or US$2.10 per share, and adjusted net income of US$1.09 billion, or US$2.16 per share. It also generated US$1.2 billion in free cash flow, which gave it room to strengthen the balance sheet. The catch now sits in valuation and volatility. At writing, it trades at about 31 times earnings. If gold pulls back, that multiple can compress fast, and mining costs can rise at the wrong time.

BN

Brookfield (TSX:BN) offers blue-chip exposure to real assets and global investing without forcing you to pick one sector. It owns and invests across infrastructure, private equity, real estate, and insurance, and it leans on its asset-management engine to keep capital moving. The Canadian stock has not sprinted lately. Yet that slower pace can set up opportunity if capital markets reopen and deal activity improves in 2026.

In its third quarter of 2025, it reported distributable earnings before realizations of US$1.3 billion, or US$0.56 per share, and total distributable earnings of US$1.5 billion, or US$0.63 per share. It also highlighted record deployable capital of US$178 billion, which is cash and financing capacity it can put to work. On valuation, the Canadian stock looks quite valuable trading at about 14 times earnings. The risk comes with complexity and private-asset pricing.

BMO

Bank of Montreal (TSX:BMO) brings the classic blue-chip ingredient: steady banking earnings plus a dividend that can smooth out rough markets. It earns from Canadian banking, U.S. banking, wealth, and capital markets, so one soft patch rarely breaks the whole story. Recent performance has been strong, with shares up almost 40% in the last year. For 2026, the story likely hinges on credit quality, loan demand, and how rate moves affect margins.

BMO’s fiscal fourth quarter of 2025 delivered a big jump in profit. The Canadian stock reported adjusted profit of $2.5 billion, or $3.28 per share, up from $1.5 billion, or $1.90 per share, a year earlier. For the full fiscal 2025 year, it reported adjusted net income of $9.3 billion and adjusted earnings per share (EPS) of $12.16. The Canadian stock trades at about 16.4 times earnings, and its forward dividend yield around 3.6%. The risk is simple: banks can look pricey after a strong run, and a downturn can push loan losses higher.

Bottom line

Together, BN, AEM, and BMO give Canadians a diversified blue-chip core for 2026: global real assets and deal flow, a gold-linked hedge with serious cash generation, and a bank that can pay you while you wait. And right now, here’s what you could earn from $7,000 in each Canadian stock.

COMPANYRECENT PRICENUMBER OF SHARESANNUAL DIVIDENDANNUAL TOTAL PAYOUTFREQUENCYTOTAL INVESTMENTAEM$298.6123$2.20$50.60Quarterly$6,868.03BN$63.60110$0.33$36.30Quarterly$6,996.00BMO$188.5437$6.68$247.16Quarterly$6,975.98

None are bulletproof, and each can go through a dull stretch. Still, each one has scale, access to capital, and a track record of producing earnings through multiple cycles. If you want three Canadian anchors you can hold through noise, this trio earns a spot on your shortlist.

The post 3 Blue-Chip Stocks Every Canadian Should Own 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 $21,827.88!*

Now, it’s worth noting Stock Advisor Canada’s total average return is 102%* – 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 January 15th, 2026

More reading

• The 2 Best Canadian Stocks to Buy and Hold Forever in an RRSP
• These Are the Best Canadian Stocks for Value in the World Right Now
• 2 TSX Stocks That Could Be Overdue for a January Jump
• 7 Top-Tier Canadian Stocks That Just Bumped Up Dividends (Again!)
• Transform Your TFSA Into a Cash-Generating Machine With $10,000

Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Brookfield. The Motley Fool recommends Brookfield Corporation. The Motley Fool has a disclosure policy.