5 best Canadian stocks to buy under C$ 1,000

Highlights 

• Certain investments can be fruitful for investors in the long-term game.
• Many Canadian stocks, for instance, are likely to provide stable growth amid the hard times like the COVID-19 pandemic.
• A stock mentioned here soared by nearly 67 per cent year-over-year (YoY).

Certain investments can be fruitful for investors in the long-term game. Many Canadian stocks, for instance, are likely to provide stable growth amid the hard times like the COVID-19 pandemic.

The dividend payout provided by some of these stocks can be an additional motivation that makes them a notable investment option.

So, let us look at five TSX-listed stocks under the price of C$1,000.

1. E-L Financial Corporation Limited (TSX:ELF)

E-L Financial Corporation Limited, which has earnings per share of 372.75, posted a total net income of C$ 168 million in the third quarter of fiscal2021.

With a return on equity (ROE) of 21.45 per cent, the investment and insurance holding firm is scheduled for a quarterly dividend payout of C$ 2.5 apiece on January 17.

Stocks of this financial firm closed at C$ 915 apiece on Friday, January 7, and climbed nearly 27 per cent in the past year.

2. FirstService Corporation (TSX:FSV)

FirstService Corporation recorded a double-digit growth of 14 per cent year-over-year (YoY) in its consolidated revenue of C$ 849.4 million in Q3 FY2021.

The real estate company, which had a price-to-earnings (P/E) ratio of 62.90, saw its stock close at C$ 222.41 per share on January 7.

Stocks of FirstService expanded by almost 30 per cent YoY.

Also read: 5 best TSX value stocks to buy in 2022 

5 best Canadian stocks to buy under C$ 1,000

3. Fairfax Financial Holdings Limited (TSX:FFH)

Fairfax Financial Holdings Limited reported net earnings of US$ 462.4 million in Q3 FY2021, compared to C$ 133.7 million in the same period a year ago.

The insurance provider will dole out an annual dividend of US$ 10 per share on January 27.

Stocks of this insurance company grew by almost 36 per cent YoY. With an ROE of 25.66 per cent, its stock closed on C$ 632.12 apiece on January 7.

4. Canadian Imperial Bank of Commerce (TSX:CM)

Canadian Imperial Bank of Commerce saw a net income increment of 42 per cent YoY to C$ 1.44 billion in the fourth quarter of fiscal 2021.

Stocks of Canadian Imperial Bank of Commerce closed at C$ 156.87 apiece on January 7, returning a YoY gain of over 40 per cent.

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5. goeasy Ltd (TSX:GSY)

goeasy Ltd saw a profit of C$ 63.5 million in Q3 FY2021. The financial company is set to deliver a quarterly dividend of C$ 0.66 apiece on January 14.

GSY stock closed at C$ 166.41 apiece on January 7 and soared by nearly 67 per cent YoY.

Also read: 5 cheap stocks listed on TSX to buy in 2022

Bottom line

By investing in quality stocks for the long term, investors can build wealth to overcome financial challenges. However, finding a quality stock is not easy, and investors should consider its technical and fundamental aspects.