2 TSX stocks that returned over 100% in a year

Highlights 

• The Canadian stock market set new records in the past year despite the pandemic pressure.
• Investors are exploring investment opportunities to curb mounting inflation numbers and improve their financial well-being despite rising Omicron cases. 
• An energy stock mentioned here galloped over 130 per cent in the last one year.
• Another stock listed below catapulted by roughly 107 per cent in the last one year.

The Canadian stock market set new records in the past year despite the pandemic pressure. Investors are exploring investment opportunities to curb mounting inflation numbers and improve their financial well-being despite rising Omicron cases. 

Here are two TSX-listed stocks, which rose by over 100 per cent in a year.

1.    Cenovus Energy Inc (TSX:CVE)

Cenovus Energy generated C$ 2.13 million from operating activities in the third quarter of fiscal 2021, up by 192 per cent from C$ 732 million a year ago.

With a market capitalization of over C$ 36 billion, the integrated oil company recorded net earnings of C$ 551 million in the latest quarter compared to a loss of C$ 194 million in the same period of FY2020.

The Calgary-headquartered energy company, which had a price-to-earnings (P/E) ratio of 51.50, saw its stock close at C$ 18.04 apiece on Thursday, January 13, slightly below its 52-week high of C$ 18.235 on January 12.

Also read: Saputo (TSX:SAP): What to know about the dairy stock before you buy it? 

The energy stock galloped by over 130 per cent in the last one year.

Cenovus Energy’ stock is presently one of the most actively traded stocks, as per the TMX site, with a trading volume of 5.2 million on Thursday.

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2.    Trisura Group Ltd (TSX:TSU)

Trisura Group saw its net income grow by almost 69 per cent year-over-year (YoY) to C$ 16.1 million in Q3 FY2021.

The speciality insurance company, which held a market cap of C$ 1.8 billion, more than doubled its earnings per share of C$ 0.38 in the latest quarter, up from C$ 0.16 a year ago.

Stocks of Trisura closed at C$ 45.13 apiece on January 13. The insurance scrip catapulted by roughly 107 per cent in the last one year.

Bottom line

Stocks like Cenovus Energy and Trisura Group may be able to help Canadians build wealth to combat inflationary pressure. However, one should also note the volatility and risk attached with such investments and follow market trends to stay up to date.

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