Jordan Zinberg’s Top Canadian Small and Mid-Cap Stocks for October 2024

Canadian small and mid-cap equities surge as Jordan Zinberg highlights top picks for long-term growth, focusing on McCoy Global, Goeasy, and Bird Construction.

Editorial Team (ET)May 13, 2025

As president and CEO of Bedford Park Capital, Jordan Zinberg has long focused on identifying high-growth opportunities within the Canadian small and mid-cap equities space. With a robust track record, Zinberg’s investment picks continue to gain attention from investors looking to capitalize on market shifts and long-term trends.

Canadian Equities Performance in Q3 2024

The third quarter of 2024 was a dynamic period for Canadian equities. Unlike previous years, which often saw quieter summer months, the Canadian stock market was anything but dull this year. Investors witnessed significant volatility and a continued surge in merger and acquisition activity, particularly in sectors that had previously fallen out of favor. This year, Q3 delivered strong performance across the board, making it a standout period for Canadian equities.

Sector Shifts and Interest Rate Sensitivity

As interest rates started their downward trajectory, sectors traditionally sensitive to rate changes, such as real estate and telecom, showed significant outperformance. This wasn’t unexpected given that rate cuts generally favor sectors that rely on heavy borrowing and long-term investments. However, as the fourth quarter begins, the market has shifted again, with energy and materials stocks taking the lead. This shift reflects broader global economic trends, where demand for natural resources continues to drive market dynamics.

Outlook for Canadian Small and Mid-Cap Stocks

Looking ahead to the rest of the fourth quarter and into 2025, Zinberg’s focus remains squarely on small and mid-cap stocks within Canada. These equities present a robust opportunity set, especially as interest rates continue to ease. Zinberg emphasizes the importance of third-quarter earnings as a key factor in determining future performance. His outlook is optimistic, citing the current environment as an ideal backdrop for Canadian equities.

Jordan Zinberg’s Top Picks

For October 2024, Jordan Zinberg has identified three companies poised for strong growth: McCoy Global, Goeasy, and Bird Construction. Each of these companies operates in a different sector, but all share the common theme of long-term potential and solid fundamentals.

McCoy Global (MCB TSX)

McCoy Global, an oilfield services company, has recently caught the attention of Zinberg’s portfolio. The company specializes in technology-driven solutions that reduce the labor required on the rig floor during well construction. By automating various processes, McCoy Global helps improve worker safety while cutting costs—a crucial factor in today’s oilfield operations. With a pristine balance sheet and strong profitability, Zinberg expects McCoy to see substantial growth in recurring revenues over the next two years. By 2025 and 2026, the company is well-positioned to capitalize on increased demand for its innovative solutions, making it a top pick for long-term investors.

Goeasy (GSY TSX)

Goeasy is no stranger to Canadian investors. As one of the best-performing financial stocks in the country over the past decade, Goeasy has built a reputation for steady growth and impressive returns. However, recent market volatility led to a 15% drop in its stock price following a debt refinancing announcement and a slight reduction in its Q3 revenue yield guidance. Despite the selloff, Zinberg believes the market overreacted. With the stock now trading at less than eight times 2025 consensus earnings, Zinberg sees this as an excellent entry point for investors looking for strong returns. The fundamentals of Goeasy remain sound, and the company’s long-term outlook remains promising.

Bird Construction (BDT TSX)

Rounding out Zinberg’s top picks is Bird Construction, a leading construction and maintenance business that operates across Canada. Bird recently announced ambitious three-year growth targets, underscoring its commitment to expanding both its top and bottom lines. Management has also increased the company’s dividend by 50%, a clear signal of confidence in Bird’s future earnings potential. With a healthy backlog of projects and improving margins, Bird Construction is poised to deliver impressive results over the coming years. Zinberg sees this company as a strong pick for investors looking to capitalize on the Canadian construction sector’s growth potential.

Conclusion

Jordan Zinberg’s top picks for October 2024 reflect his confidence in the Canadian small and mid-cap market. With McCoy Global, Goeasy, and Bird Construction, Zinberg has selected companies that are not only well-positioned to weather market fluctuations but also poised for long-term growth. As Canada’s equity markets continue to evolve, Zinberg’s focus on strong fundamentals and growth potential remains a solid investment strategy.

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