AUS
NZ
UK
CA
USA
IND
Highlights
- Canadians with limited money to invest may explore reliable stocks that are priced low and could provide solid returns in the coming years.
- Some of these quality stocks also pay a regular dividend, which improves the financial standing of their investors.
- An oil stock listed here expanded by nearly 174 per cent in the last 12 months.
Canadians with limited money to invest may explore reliable stocks that are priced low and provide solid returns in the coming years. Some of these quality stocks also pay a regular dividend, which improves the financial standing of their investors.
Here are five Canadian stocks (under $50) that you can consider in 2022.
1. IGM Financial Corp (TSX:IGM)
IGM Financial posted net earnings of C$ 270.8 million in the third quarter of fiscal 2021, a year-over-year (YoY) increase of 42 per cent. The Winnipeg, Manitoba-based company will deliver a quarterly dividend of C$ 0.563 apiece on January 31.
Stocks of IGM Financial grew by roughly 33 per cent in the past year. With a price-to-earnings (P/E) ratio of 11.9 per cent, the financial stock closed at C$ 46.80 per share on Thursday, January 6.
Also read: 5 best Canadian lithium stocks to buy in 2022
2. Cenovus Energy Inc (TSX:CVE)
Cenovus Energy Inc generated net earnings of C$ 551 million in Q3 FY2021 compared to a loss of C$ 194 million incurred a year ago.
The Calgary, Alberta-based integrated oil producer saw its stock close at C$ 17.24 apiece on January 6. The oil stock swelled by approximately 103 per cent in the past year.
Image source: ©2022 Kalkine Media®
3. Sleep Country Canada Holdings Inc (TSX:ZZZ)
Sleep Country Canada Holdings Inc saw revenue growth of 13 per cent YoY in Q3 2021. Its revenue was C$ 242.4 million in the latest quarter.
Stocks of this mattress company closed at C$ 36.37 apiece on January 6. With a return on equity of 24.59 per cent, the ZZZ stock gained over 35 per cent in the last year.
4. MEG Energy Corp (TSX:MEG)
MEG Energy Corp recorded third-quarter production volume of 91,506 barrels of oil per day in FY2021. In the latest quarter, the in-situ oil sands developer and producer reported an adjusted funds flow of C$ 239 million.
MEG scrip closed at C$ 12.87 apiece on January 6 and expanded by nearly 174 per cent in the last 12 months.
5. Headwater Exploration Inc (TSX:HWX)
Headwater Exploration Inc posted a net income of C$ 26.10 million in Q3 FY2021 against a net loss of C$ 1.72 million incurred in the previous year.
The oil and gas exploration company saw its stock close at C$ 5.60 per share on January 6. The stock fetched a one-year return of over 115 per cent.
Bottom line
Even at a bargain price, some quality stocks provide dividend income to their investors, which is a plus point to note. However, they should also assess their risk-return profile to make the right investment decisions.
Also read: Top 5 TSX energy stocks under $10 for your 2022 portfolio
