No, it isn’t plausible.
Canada is already 20% foreign-born. To reach ~50% by 2060, that share would have to more than double which is something no StatsCan projection even comes close to.
Even high-immigration scenarios only reach ~35–40%.
You’d need immigration well above 2023 levels every single year for 30–40 years straight, with no political, economic, or housing pullback.
You’re also ignoring that immigrants’ children are Canadian-born, which actually slows the foreign-born percentage.
The only way 50% works is if you quietly switch from “foreign-born” to “immigrants + their kids”, which is a different claim.