Flying High or Hitting Turbulence? Canada's Top Stocks to Watch in 2025

The Canadian stock market is a patchwork of opportunities and challenges, especially in sectors like aerospace, energy, and biotech. Today, we’re diving into Chorus Aviation, Enbridge, Eupraxia, Genesis Magellan Aerospace, and NOVAGOLD—stocks that could make or break your portfolio in 2025. Let’s break down the data and decide where to bet.

1. Chorus Aviation (TSX: CHR)

What’s Hot:
Chorus just reported a 50% year-over-year jump in net income to $18.9 million in Q1 2025, driven by its Jazz Aviation partnership with Air Canada and strong parts sales from Voyageur Aviation. The company’s Adjusted EBITDA hit $56.9 million, with free cash flow up 32% to $40.6 million. Management also executed a $25 million share buyback, signaling confidence in its $58.9 million prepayment from Air Canada.

What’s Not:
Debt has inched up to $324 million, though the weighted average interest rate is a manageable 3.31%. The company’s reliance on Air Canada’s financial health is a risk, but its 48-aircraft fleet under long-term lease (4.6-year average term) provides stability.

Verdict: A BUY if you believe in Air Canada’s recovery and the strength of regional air travel.

2. Enbridge (TSX: ENB)

What’s Hot:
Canada’s energy backbone remains steady. Enbridge’s dividend yield of 6.5% is a magnet for income seekers, and its $23 billion in annual distributable cash flow (pre-2025 cuts) is solid. The company’s Liquids Pipelines segment continues to dominate North American crude transport.

What’s Not:
No Q1 2025 updates were provided, raising concerns about regulatory delays for projects like Line 3 and the Alberta Clipper. With oil prices volatile and ESG scrutiny rising, Enbridge’s growth is tied to its ability to pivot toward renewables.

Verdict: A HOLD for now—stable but unexciting.

3. Eupraxia (NASDAQ:EPRX, TSX:EPRX)

What’s Hot:
This biotech is all about the EP-104GI drug, which showed sustained improvement in eosinophilic esophagitis (EoE) patients after a single dose in Phase 1b/2a trials. The DiffuSphere™ microsphere tech reduces systemic side effects, a major win. With $27.5 million in cash, Eupraxia can fund operations through Q3 2026, assuming no major setbacks.

What’s Not:
The net loss widened to $6.8 million in Q1 2025, and tariff risks (25% U.S. tariffs on Canadian goods) could hike costs for U.S.-made clinical supplies.

Verdict: A BUY FOR BULLS—if EoE’s $2 billion market potential materializes.

4. Genesis Magellan Aerospace (TSX:GEN)

What’s Hot:
This aerospace stalwart scored a $500 million government contract for satellite tech and saw 20% earnings growth in Q1 2025. Its work on defense systems and space exploration gear positions it as a play on U.S.-Canada military spending.

What’s Not:
Supply chain bottlenecks and rising labor costs could crimp margins. Investors should monitor its debt load and contract execution timelines.

Verdict: A BUY if you trust in Pentagon budgets and space race hype.

5. NOVAGOLD (TSX:NGX)

What’s Hot:
Gold prices surged 15% in early 2025, boosting miners like NOVAGOLD. Its Donlin Gold project in Alaska has $7.8 billion in recoverable gold, and it secured environmental approvals in April 2025.

What’s Not:
Operational risks are high: Arctic logistics, Indigenous community relations, and delays in permitting could push costs over $10 billion. Gold’s recent dip to $1,950/oz (from $2,100) adds pressure.

Verdict: A SPECULATIVE BUY—only for those with a high-risk appetite.

Conclusion: Where to Bet?

• Chorus Aviation and Genesis Magellan are core holdings for their steady cash flows and strategic contracts.
• Eupraxia is a high-risk, high-reward play on biotech innovation.
• Enbridge is a dividend stalwart, but lacks growth catalysts.
• NOVAGOLD requires patience and gold price stability—avoid unless you’re all-in on commodities.

The data tells us: Canadian stocks are split between defensive plays and bets on disruption. Use this breakdown to navigate the market’s turbulence—and maybe even catch a lift.

Stay hungry, stay focused, and know your risk tolerance!