The Canadian stock market is coming off yet another strong week. The S&P/TSX Composite Index is up more than 15% year to date, not even including dividends, either. It's been a steady rise throughout 2024, and plenty of positive momentum remains in the Canadian stock market.

Despite the huge gains this year, there remains no shortage of discounted stocks on the TSX.

I've put together a list of three proven companies that are trading at bargain prices right now. If you've got some extra cash to spare, these Canadian stocks deserve a spot on your watch list.

Stock #1: Shopify

Shopify (TSX:SHOP) has certainly joined in on the fun over the past few weeks but continues to trade far below all-time highs. Shares are up close to 50% since early August yet remain 50% below all-time highs.

Like many other tech stocks, Shopify continues to recover from the huge gains that it drove in 2020 and 2021. Over the past five years, Shopify has remained a massive market-beater, but it will likely take time to return to all-time highs.

As an international leader in the e-commerce space, Shopify remains loaded with long-term growth potential despite trading at a loss since late 2021.

I've added to my Shopify position several times this year and will likely continue to do so while these prices last.

Stock #2: goeasy

goeasy (TSX:GSY) is a much more under-the-radar stock compared to Shopify.

The $3 billion company is a consumer-facing financial services provider, which unsurprisingly saw demand take a hit as interest rates surged. But with more interest rate cuts potentially around the corner, goeasy's discounted price might not be around for much longer.

The stock has been shooting up as we've seen interest rates begin getting cut. Shares are up 70% over the past year and are now trading less than 20% below all-time highs.

goeasy's 200% return over the past five years should have this under-the-radar stock on all growth investors' watch lists.

Stock #3: Brookfield Renewable Partners

Now could be an excellent time for long-term investors to put some money to work in the renewable energy space. The sector itself is full of discounted stocks with lots of long-term growth potential, not to mention top dividend yields, too.

Brookfield Renewable Partners (TSX:BEP.UN) is not only a Canadian leader but an international one, too. The $20 billion company has operations spread across the globe, spanning a range of different renewable energy industries.

Owning shares of Brookfield Renewable Partners provides instant diversification to the sector.

The energy stock has been on the decline since early 2021. Excluding dividends, shares are down more than 30% since then.

Shares exploded in 2019 and 2020, which at least partially explains the sell-off that has occurred over the past three years. Brookfield Renewable Partners has remained positive over the past five years and, when including dividends, has outperformed the Canadian market's returns over that same period.

One silver lining for investors is that the dividend yield has shot up as the stock price has declined. At today's price, the dividend yield is above 5%.

There aren't many dividend stocks on the TSX with a yield that high and a market-beating track record.