3 Canadian Growth Stocks To Watch In September 2026

With the central bank in Canada tightening policy to keep inflation in check, investors are being paid to think harder about where future earnings growth might actually come from. Higher borrowing costs can punish weaker balance sheets, yet they also spotlight Canadian businesses that analysts expect to grow profits and still keep their finances in reasonable shape. This article highlights three such high potential stocks from our growth focused screener.

The three stocks below are just a small sample, and the full screen surfaced 54 more companies with similarly strong growth stories and financial profiles that are not covered here.

If you want to go straight to the source and identify your own high conviction ideas, head into the Healthy high growth potential screener to filter and analyze the full set of opportunities that fit these criteria.

Cameco (TSX:CCO)

Overview: Cameco is a Canadian uranium specialist that supplies uranium fuel and related nuclear services to power plants worldwide.

Operations: Cameco generates about CA$2.9b from Uranium, CA$3.4b from Westinghouse, CA$551 million from Fuel Services, and a small Other segment.

Market Cap: CA$54.3b

Cameco sits at the centre of this screener because its uranium mining and fuel capabilities directly tie expected earnings growth to rising nuclear power use, while its broader nuclear services portfolio helps support that growth profile.

"Cameco stands to benefit from a global wave of new nuclear construction, driven by heightened government policy support, net-zero emission mandates, and growing energy security concerns, factors likely to accelerate demand for uranium and nuclear fuel, directly supporting higher long-term revenues."

What matters next is how one unresolved pressure on future profitability ultimately shapes the earnings trajectory investors are banking on.

That unresolved pressure sits at the center of the full narrative for Cameco, which examines how earnings, contracts, and policy risks may be diverging from the headline uranium story.

MDA Space (TSX:MDA)

Overview: MDA Space builds satellite communications platforms and space robotics, including MDA AURORA and Canadarm3, for governments, defense clients, and commercial operators worldwide.

Operations: MDA Space generates about CA$1.9b from its combined Geointelligence, Robotics and Space Operations, and Satellite System segment, mainly serving Canadian and U.S. customers.

Market Cap: CA$7.2b

MDA Space fits the Healthy high growth potential theme through its satellite platforms and robotics projects that tie forecast earnings growth to long-term contracts in communications, defense, and lunar missions.

"The ramp-up of large LEO constellation contracts, including the landmark $1.8 billion EchoStar direct-to-device satellite order with options to expand, and multiple pipeline opportunities in broadband, defense, and IoT, is expected to drive robust multi-year revenue growth as global demand for satellite connectivity accelerates."

The key question is how one pressure on future pricing power ultimately shapes whether that growth translates into stronger margins for shareholders.

That pricing power question is where the full narrative for MDA Space really opens up, laying out how contract structure, capital intensity, and execution risk could either compress or accelerate shareholder outcomes.

Energy Fuels (TSX:EFR)

Overview: Energy Fuels is a Colorado based miner that focuses on uranium production while also producing rare earth elements and heavy mineral sands.

Operations: Energy Fuels currently generates about US$106 million in revenue from its Uranium segment, with no other material reported segment contributions.

Market Cap: CA$4.0b

Energy Fuels fits this healthy high growth potential theme through its uranium business. The rare earth platform adds a second earnings engine that could matter over time.

"Completion and commissioning of the White Mesa Mill rare earth separation Phase 2 expansion (potentially increasing monazite processing to 60,000 tonnes/year and enabling commercial-scale heavy rare earth production such as Dy/Tb) could establish Energy Fuels as a major western supplier, capturing price premiums driven by western supply chain security and increasing electrification demand, supporting long-term revenue and margin upside."

What really shapes how that story translates for shareholders is how one pressure on future pricing power ultimately affects margin strength.

That margin question is where the full narrative for Energy Fuels really matters, unpacking how rare earth expansion, uranium pricing, and execution risk could accelerate or stall Energy Fuels earnings power.

Seeking Alternatives Before Momentum Flies

Fresh opportunities can move from quiet to crowded quickly. Screens catch potential breakouts and momentum shifts while it still matters and before they get fully priced. Consider acting early if it fits your strategy.

• Target dependability with companies built on strong cash generation and robust finances by scanning the curated list of solid balance sheet and fundamentals (7 results) before others spot the same resilience.
• Look for stocks tied to the build out of nuclear capacity and supporting hardware by sifting through the focused 19 nuclear energy infrastructure stocks while they remain less widely followed.
• Focus on structural demand for copper tied to electrification and grid upgrades by reviewing the specialist 17 top copper producer stocks before potential momentum changes valuations.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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