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Highlights
- Some Canadian multi-bagger stocks have returned more than 350 per cent in a year.
- Few of them have outpaced the S&P/ TSX Composite Index.
- One Canadian multi-bagger stock zoomed by over 699 per cent in a year.
- Another such stock grew by over 574 per cent year-over-year (YoY).
Multi-bagger stocks, under the right circumstances, can help one earn noteworthy returns. Notably, some Canadian multi-bagger stocks have returned more than 350 per cent in a year, outpacing the S&P/ TSX Composite Index, which gained by over seven per cent (as of writing).
Here are five Canadian multi-bagger stocks that investors could add to their Tax-Free Savings Account (TFSA) to build retirement wealth.
1. Verde Agritech Plc (TSX:NPK)
Verde Agritech introduced Big Revolution technology in April, which incorporates microorganisms into its multi-nutrient potassium fertilizers. The crop nutrient company has been researching this technology since 2015 and finally filed for its patent protection.
Verde Agritech increased its 2022 guidance on May 3 and claimed to be the first company to commercialize fertilizer with added microorganisms. The company believes that microorganisms are crucial to enhancing plant productivity and accelerating the Fourth Agriculture Revolution.
NPK stock zoomed by over 699 per cent in a year. The data collected from EODHD/Others suggests that NPK has been on a bullish trend since the beginning of 2022 and held a Relative Strength Index (RSI) value of 56.4 as of May 5.
2. Pine Cliff Energy Ltd (TSX:PNE)
Pine Cliff Energy recorded commodity sales of C$ 66.18 million in Q1 FY2022, notably up from C$ 35.51 million in Q1 2021. It noted cash of C$ 23.87 million in this quarter compared to C$ 8.47 million in Q1 2021. The natural gas producer saw its profit rise significantly to C$ 15.43 million in the first three months of 2022 compared to a loss of C$ 0.68 million a year ago.
PNE stock swelled by almost 568 per cent year-over-year (YoY) and currently, seems to be on an upward trend with an RSI value of 76.45 as per EODHD/Others.
Also read: Nuvei (NVEI) and MOGO: 2 undervalued TSX fintech stocks to buy?
3. Obsidian Energy Ltd (TSX:OBE)
Obsidian Energy reported C$ 78.6 million in funds flow from operations in Q1 FY2022, marking a YoY rise of 117 per cent. The oil and gas company also revised its annual guidance to 30,300 to 31,300 barrels of oil equivalent per day (boe/d) for 2022, marking an increase of 200 boe/d from earlier guidance.
OBE stock rocketed by over 425 per cent in 52 weeks, with an RSI value of 45.38 as of May 5.
4. Nuvista Energy Ltd (TSX:NVA)
Nuvista Energy exceeded its production guidance of 56,000 to 58,000 boe/d and recorded production of 60,888 boe/d in Q4 FY2021. The energy company also reported a sales growth of 160 per cent in Q4 2021 compared to Q4 2020.
NVE stock surged by roughly 367 per cent in 12 months and scored a 52-week high of C$ 12.39 on May 4. NVA’s RSI value stood at 64.44 at the time of writing this.
5. Inventronics Ltd (TSXV:IVX)
Inventronics is a TSXV company that designs and makes protective enclosures for different industries. The industrial company recorded revenue of C$ 3.75 million in Q1 2022 compared to C$ 1.8 million in the previous year’s quarter. The junior company’s net profit was C$ 0.5 million in Q1 2022.
IVX stock grew by over 574 per cent YoY and stood at an RSI value of 50.98 as of May 5 (based on data taken from EODHD/Others).
5 multi-bagger stocks to buy and hold in TFSA till retirement
Bottomline
These Canadian stocks have outperformed the TSX benchmark index in the past one year by a notable value. Considering their financials and outlook, these multi-bagger stocks can continue to upkeep their performance. Investors can add such stocks in their portfolio for retirement, but advisably after thorough research.
Also read: Shopify (TSX:SHOP) posts Q1 revenue surge of 22% YoY. Time to buy?
Please note, the above content constitutes a very preliminary observation based on the industry, and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.
