Top Canadian Stocks to Buy Right Away With $2,000

What would you think would be the best way to use an expendable $2,000? It can be a good amount to go toward funding a luxury purchase that you have been eyeing. If you are smart about it, you might want to save that money to get returns from the interest you can earn over time. If you are truly Foolish about it, investing it in the stock market might be the best way to unlock the potential those $2,000 have to offer.

By investing in the right stocks, you can get far greater returns than any interest income. You can lay the foundation for long-term financial security for yourself and fund the real big-ticket purchases down the line.

Buying and holding a high-quality portfolio of blue-chip stocks in a Tax-Free Savings Account (TFSA) would mean you can enjoy the returns without incurring taxes on any withdrawals. Today, we will take a look at two TSX stocks that can be worthwhile holdings in a TFSA against this backdrop.

Brookfield Renewable Partners

Brookfield Renewable Partners (TSX:BEP.UN) is an interesting growth stock that also doubles as a passive-income investment. The $25.53 billion market-cap company is a globally diversified owner and operator of clean energy assets. The company’s portfolio totals around 21 gigawatts of installed capacity, distributed across hydro, wind, solar, and storage facilities around the world. Backed by an enormous economic moat, this heavy-hitter is also benefiting from the rise of artificial intelligence (AI) infrastructure and the growing demand for data centres.

For an investor, Brookfield Renewable seems perfect. It has a healthy pipeline of projects, including a five-year agreement that the company signed in 2024 with Microsoft to develop over 10.5 gigawatts of renewable energy capacity for the company in the U.S. and Europe by 2030. As of this writing, it trades for $38.80 per share and pays investors US$0.373 per share each quarter, translating to a 5.43% dividend yield.

Barrick Mining

Where Brookfield Renewable is an investment that can benefit you during the growth period of the renewable energy industry, Barrick Mining (TSX:ABX) is the kind of investment that prepares you for market downturns. Historically, gold prices have always risen when the overall economy is not doing so well. People view gold as a safe-haven asset to hedge against a struggling economy.

Imagine being able to gain exposure to rising gold prices without taking the money out of the market and into an illiquid asset like gold bullion. When the money remains in the market with gold stocks, it is easier to reallocate with changing market conditions. It is not as easy to liquidate solid gold into cash.

ABX stock is the 10th-largest Canadian company by market capitalization and one of Canada’s largest gold producers. Rising gold prices mean better margins for Barrick Mining stock. In turn, the stock rewards its investors by growing shareholder value through capital gains and dividends. Barrick Mining stock pays investors US$0.175 per share each quarter, translating to a 1.40% dividend yield.

Foolish takeaway

The journey to financial freedom is a long one. It requires plenty of patience, financial discipline, and the ability to identify the right assets to buy and hold. Even an amount as small as $2,000 can go a long way when you invest it in high-quality stocks. To this end, Brookfield Renewable stock and Barrick Mining stock can be excellent investments to consider.

The post Top Canadian Stocks to Buy Right Away With $2,000 appeared first on The Motley Fool Canada.

Should you invest $1,000 in Barrick Mining right now?

Before you buy stock in Barrick Mining, consider this:

The Motley Fool Canada team has identified what they believe are the top 10 TSX stocks for 2026… and Barrick Mining 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!

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* Returns as of January 15th, 2026

More reading

• Better Energy Stock: Canadian Natural Resources vs. Brookfield Renewable Partners
• Winners Keep on Winning: 1 Momentum Stock to Stick With in the New Year
• Betting on a Sustained Gold Rush in 2026? Buy These 2 Canadian Stocks
• TFSA: 3 Canadian Dividend Stocks to Buy and Hold for Decades
• Prediction: 10 Years From Now, You’ll be Glad You Bought These Winners

Fool contributor Adam Othman has no position in any of the stocks mentioned. The Motley Fool recommends Brookfield Renewable Partners. The Motley Fool has a disclosure policy.