- Investing in stocks can fetch significant returns in the long run if right investment strategies and approaches are implemented.
- The Canadian stock market offers many such investment options that can help investors earn notable returns over a period of time.
- A Canadian energy stock rocketed by roughly 600 per cent on a year-to-date (YTD) basis.
- Another oil stock listed on the TSX rocketed by more than 752 per cent this year.
Investing in stocks can fetch significant returns in the long run if right investment strategies and approaches are implemented.
The Canadian stock market offers many such investment options that can help investors earn notable returns over a period of time.
Here are some of the top TSX-listed stocks that delivered a return of over 500 per cent in 2021.
1. Journey Energy Inc (TSX: JOY)
Stocks of Journey Energy Inc soared by about 544 per cent in the past year. JOY stock closed at C$ 1.61 apiece on Tuesday, November 30, having clocked a one-year high of C$ 1.99 apiece on November 8, 2021.
The stock also delivered a return of approximately 600 per cent on a year-to-date (YTD) basis.
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On the financial front, the Calgary, Alberta-based oil and gas company posted a net income of C$ 92.2 million in the third quarter of 2021.
Journey Energy held a return on equity (ROE) of 951.52 per cent and a return on assets (ROA) of 41.51 per cent on November 30.
2. Filo Mining Corp (TSX: FIL)
Canadian metal miner Filo Mining Corp saw its stock close at a value of C$ 11.78 apiece on November 30, having hit a day high of C$ 12.28 during the session.
Filo stock has swelled by spiked by nearly 537 per cent in the past one year. On a YTD basis, it spiked by more than 510 per cent.
The Vancouver-headquartered miner posted a net loss of C$ 9.1 million in Q3 FY2021, as against a net loss of C$ 2.5 million incurred in the same quarter a year ago.
3. NuVista Energy Ltd (TSX: NVA)
NuVista Energy, another oil and gas player in Canada based in Calgary, Alberta, saw its cash flow increase by 94 per cent year-over-year (YoY) to C$ 80.6 million in the third quarter of fiscal 2021.
NuVista’s stock, on the other hand, grew by nearly 71 per cent in the last three months. Its scrip’s value also expanded by roughly 559 per cent this year.
NVA stock closed at C$ 6.19 apiece on November 30, down by more than six per cent. It hit a one-year high of C$ 7.71 on November 16.
The energy player held a market capitalization of C$ 1.4 billion and an ROE of 100.26 per cent.
4. InPlay Oil Corp (TSX: IPO)
On November 30, InPlay Oil Corp said that it has completed the acquisition of Calgary, Alberta-based Prairie Storm Resources Corp to strategically expand its cardium operations in Central Alberta.
InPlay Oil recorded a YoY rise of 675 per cent in its adjusted funds flow to C$ 15.6 million in Q3 FY2021. The company also reduced its net debt by six per cent quarter-over-quarter (QoQ) in its latest quarter.
IPO stock, on the other hand, spiked by nearly 87 per cent in the last three months.
The oil stock also rocketed by more than 752 per cent YTD.
After hitting a day high of C$ 2.03 on November 30, IPO stock closed at a value of C$ 1.96 apiece. It touched a 52-week high of C$ 2.26 on November 15 this year.
4 Canadian stocks that returned over 500% in 2021
Investing in the stock market is a lot like employing your money to work harder. If implemented strategically and following good research, such investments can provide significant returns in the future and help you in maintaining financial stability to a certain extent.
However, the stock market is a volatile territory, and one should take investment decisions wisely when venturing into this world.