A developed nation like Canada gives plenty of opportunities. Whether it is education, jobs, or investment, it keeps its citizens ahead. When it comes to investment, the prospects are very strong. That is because one finds a number of efficient companies working here. They streamline their operations and become a prudent investment for market participants.
Belonging to different industries, these companies do a great job of topping the charts. These companies perform really well in most quarters. They provide perfect opportunities for investors to gain profits. While being ahead in the markets, these stocks yield excellent gains for their holders.
Canadian Stocks Every Investor Could Count On
These Canadian stocks are known for providing the best benefits to their investors.
BlackBerry Limited (NYSE: BB)
BlackBerry may not be a big name in the smartphone space anymore. But it’s quite functional in Canada and generates good profits for its investors too. In July 2023, the company reported 44% gains and its revenue jumped to $373 Million exceeding all the estimates. It also saw an adjusted earning-per-share (EPS) rising to $0.06. It’s also a favorite of institutional investors.
New Gold Inc. (NYSE: NGD)
It’s a major mining company in Canada that operates in different areas. The mining bases are located in Ontario and British Columbia. Based in multiple locations, the company generates gold, silver, and copper. Its revenue took a jump of 59.4% in the recent quarter. It reached $184.4 Million with an adjusted EPS of $0.02. The company attributed it to the increase in sales volume.
IAMGOLD Corporation (NYSE: IAG)
IAG is another mining company that has managed to remain profitable for investors. As the name suggests, it specifically deals in gold. The revenue took a jump of 56% over the last year. The hedge fund tracker, Insider Monkey also speaks positively about this company. Its biggest investor is Kopernik Global with a stake of $50 Million.
Tilray Inc. (NASDAQ: TLRY)
Tilraty Inc. is a Cannabis company that has registered a growth of 45% within a month. It recently shared the quarterly results that highlighted a jump in revenue by 20.1%. Also, it tremendously outflanked the estimates of $30.23M and reached $184.19M. Insider Monkey found 14 hedge funds that had stakes in Tilray Inc. Among them, the lion’s share belongs to Alyeska Investment Group with a $2.9M stake.
NovaGold Resources Inc. (NYSE: NG)
The Canadian gold mining company NovaGold hasn’t gone into full-blown operations yet. It’s currently developing a mine in Alaska. But due to its strong prospects, the company has already gained plenty of attention. In the 2nd quarter, the company faced some losses. However, it still projects good numbers in cash and term deposits. For investors, it’s still a profitable deal.
Conclusion
By investing in these Canadian companies, investors can ensure short-term as well as long-term profits. With these stocks in the portfolio, one can easily make plenty of profits. However, it is advised to do the analysis before investing the money. So, it is important to read about the companies and see how they’re going to do in the coming months.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/08/23/top-5-canadian-stocks-that-look-most-promising-to-investors/