Got $5,000? 2 Top Growth Stocks to Buy That Could Double Your Money

Growth stocks have the potential to expand their financial performance at a pace well above the industry average, enabling them to generate superior long-term returns. Owing to this strong return potential, investors are often willing to pay a premium for these companies, leading to higher valuations. However, the evolving nature of their business models and relatively elevated valuations also make them inherently riskier investments. As such, growth stocks are generally better suited for investors with a higher risk tolerance and a longer investment horizon.

Meanwhile, doubling an investment within four years requires an annualized return of more than 18.9%. Against this backdrop, let’s examine two stocks that have the potential to generate annualized returns exceeding 18.9% over the next four years.

5N Plus

5N Plus (TSX:VNP), a producer of specialty semiconductors and performance materials, has delivered an exceptional return of more than 835% over the past three years, translating into an annualized gain of about 111%. Driven by its exposure to high-growth sectors such as semiconductors, terrestrial renewable energy, and space-based solar power, along with strong financial performances, the company has attracted significant investor interest in recent years, pushing its share price higher.

Moreover, the accelerating transition toward clean and renewable energy, along with the structural expansion of space-based observation, satellite communications, and security applications, has created meaningful long-term tailwinds for 5N Plus. Amid this expanding addressable market, the company focuses on strengthening its production capabilities in key strategic sectors to meet rising customer demand. Last month, it announced plans to expand AZUR SPACE Solar Power GmbH’s solar cell production capacity by 25% this year.

Additionally, 5N Plus recently received a US$18.1 million grant from the United States government to enhance the recycling and refining of germanium from industrial residues and mining by-products at its St. George, Utah, facility. This funding could help the company meet the rapidly growing demand for germanium-based technologies in the United States. Considering its expanding market opportunities and ongoing growth initiatives, I expect the positive momentum in 5N Plus’s financial performance to continue, supporting further stock price appreciation.

Secure Waste Infrastructure

Another growth stock that could potentially double your investment over the next four years is Secure Waste Infrastructure (TSX:SES), an integrated waste management and energy infrastructure company operating primarily in Western Canada and North Dakota. The past three years have been particularly strong for the company, with total shareholder returns of about 164%, representing an annualized rate of roughly 38.2%.

Meanwhile, the company reported solid fourth-quarter results last month, with revenue and adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) rising 9.7% and 15.4%, respectively. The contributions from the metals recycling business in Edmonton, Alberta, acquired last year, the addition of a new water and waste processing facility, improved pricing across key service lines, and ongoing cost optimization initiatives across its network drove its fourth-quarter financials.

Additionally, Secure maintains a healthy financial position, with $597 million in liquidity and a total debt-to-adjusted EBITDA ratio of 2.1. Supported by this strong balance sheet, the company continues to expand its asset base. It recently brought a fully contracted water-disposal facility in the Montney region into service, and another facility is expected to become operational this quarter. The company also plans to reopen its industrial waste processing facility in Alberta in the second quarter of this year.

Alongside these initiatives, Secure expects to invest approximately $85 million in sustainable capital this year to expand its landfill capacity. Considering these expansion plans and favourable industry dynamics, I expect the company’s financial momentum to continue, which could support further stock price appreciation in the coming years.

The post Got $5,000? 2 Top Growth Stocks to Buy That Could Double Your Money appeared first on The Motley Fool Canada.

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More reading

• 5 Canadian Stocks to Buy and Hold for the Next 5 Years
• The Best Stocks to Invest $10,000 in Right Now
• The Smartest Growth Stock to Buy With $1,000 Right Now
• 2 Growth Stocks to Buy Now and Hold for 10 Years
• Top Canadian Stocks to Buy for Growth in 2026

Fool contributor Rajiv Nanjapla has no position in any of the stocks mentioned. The Motley Fool recommends Secure Waste Infrastructure Corp. The Motley Fool has a disclosure policy.