The ongoing geopolitical uncertainty stemming from the Middle East conflict continues to pressure global stock markets. Unless a lasting peace agreement is reached soon, market volatility is likely to remain high. However, Canada’s Toronto Stock Exchange (TSX) has shown resilience, particularly in the energy and basic materials sectors. If you have $2,000 USD in spare cash, you can ignore the market noise and allocate it to two high-performing investment options.
Whitecap Resources (TSX:WCP) and Almonty Industries (TSX:AII), thanks to their standout performance so far in 2026, have become Canadian stocks worth buying right now. The former is an energy stock offering stable monthly dividend income, while the latter is a metal mining stock displaying explosive upward momentum driven by accelerating growth prospects.
Energy is a significantly weighted sector in the Canadian stock market. Rising oil prices and supply shocks are pushing the sector higher. Whitecap Resources is benefiting from these favorable factors. As of now, Whitecap Resources trades at $14.29 per share, with year-to-date gains of nearly 28%, largely in line with the energy sector’s 32% increase. Additionally, a high dividend yield of 5.1% provides a solid complement to capital appreciation.
Before the outbreak of the U.S.-Israel-Iran war, this $17.4 billion market cap oil and gas company ended 2025 with strong momentum. Following the completion of its acquisition of Veren Inc. in March 2025, Whitecap Resources became Canada’s seventh-largest oil and gas producer and fifth-largest natural gas producer. The expanded scale of operations and improved cash flow subsequently led to a credit rating upgrade. This transformative merger created a larger platform capable of competing with industry giants. For the full year 2025, the company’s revenue and net profit increased by 66% and 21% year-over-year, reaching $5.5 billion CAD and $984.6 million CAD, respectively. Management stated that average daily production for the year reached 307,245 barrels of oil equivalent, exceeding guidance and setting a new record.
No one can predict how long the conflict and high-oil-price environment will last. Whitecap’s CEO, Grant Fagerheim, noted that this is a massive supply disruption affecting the entire world. However, despite the surge in oil prices, the company will maintain its 2026 capital expenditure plan of $2 billion CAD and will use the increased cash flow to strengthen its balance sheet. The capital return strategy includes share buybacks.
Almonty Industries focuses on tungsten mining and exploration. Major economies regard tungsten as a critical mineral indispensable for modern defense and advanced technology. Although China dominates the tungsten market, this mining company’s products are globally recognized as conflict-free minerals. With a market cap of $8.5 billion CAD, this mining stock ranked tenth on the TSX30—the list of the 30 best-performing growth stocks on the Toronto Stock Exchange in 2025—with a three-year dividend-adjusted share price return of 427%. Currently trading at $28.84 per share, the stock has delivered a price return of 688% over the past year. A $1,000 investment one year ago would now be worth $7,879. Almonty Industries is also listed on Nasdaq.
On April 13, 2026, Almonty announced it would relocate its corporate headquarters to Montana, USA, to be closer to U.S. federal government agencies, defense contractors, and industrial partners.
Whitecap Resources and Almonty Industries are currently two of the most attractive investment options on the Toronto Stock Exchange. For a $2,000 USD allocation, these two reasonably priced stocks that are outperforming the market can deliver efficient returns. Depending on their risk tolerance, investors can make a rational allocation between the stable dividends of the energy sector and the high-growth momentum of the mining sector.
