ACO, BDT, HBM, BMO, & IMO: TSX stocks to support indigenous communities

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ACO, BDT, HBM, BMO, & IMO: TSX stocks to support indigenous communities

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Highlights

  • Recently, the TMX Group, the Toronto Stock Exchange owner, added a stocklist of PAR certified companies.
  • Many companies in Canada support indigenous communities throughout the year, known as PAR certified companies.
  • Some investors could choose to buy the stocks of PAR certified companies to support indigenous groups.

May 5 is designated as the Missing and Murdered Indigenous Women (MMIW) Day to raise awareness on the issue of missing and murdered indigenous women and girls.

In the United States and Canada, people raise awareness through marches, meetings and self-defence training for women and girls. It is believed that the MMIW human-rights crisis affects the lives of indigenous communities in both countries.

Many companies in Canada support indigenous communities throughout the year, known as PAR certified companies. Recently, the TMX Group, the Toronto Stock Exchange owner, added a stocklist of PAR certified companies.

On that note, we have shortlisted five TSX-listed stocks that support indigenous communities:

ATCO Ltd. (TSX:ACO.X)

The stock of the Canadian utility holding company has been rising over the past few weeks, and it is involved in providing electric, gas, and infrastructure solutions.

ATCO's Relative Strength Index (RSI) value is 61.1 as per the Refinitiv data. Some analysts believe that an RSI value of 30 indicates an overselling condition, and a value of 70 represents that the stock is being oversold.

However, the current RSI value of the ACO.X stock indicates that it is in the buying zone. The utility has gained around seven per cent year-to-date, and it closed at C$ 45.63 per share on May 5.

Bird Construction Inc. (TSX:BDT)

Ontario-based Bird Construction was established in 1920, and it acts as a general contractor in the construction sector. The company majorly takes the project in the commercial and industrial sectors.

In Q4 2021, the company's construction revenue increased to C$ 597.8 million from C$ 554.96 million in Q4 2020. Meanwhile, the net income was approximately C$ 42.8 million for the full year, up from C$ 36.1 million in 2020.

Canada stocks

Bird Construction's return on equity (ROE) is 19.4 per cent, and generally, if a company's ROE is over 15 per cent, it is considered to be in good shape. At market close on May 5, the BDT stock was priced at C$ 8.44 per share.

Hudbay Minerals Inc. (TSX:HBM)

The company has mining operations in Canada and the United States. It is involved in the production of copper concentrate, which comprises zinc metal, silver, copper, and gold.

Hudbay Minerals distributes dividends semi-annually and has a dividend yield of 0.253 per cent. At the end of the trading session on Thursday, the HBM stock closed at C$ 7.9 per share.

In Q4 2021, the company's copper and consolidated gold production jumped 4% and 55% year-over-year (YoY). The copper production was 99,470 tonnes, and the consolidated gold production was 193,783 ounces.

Also Read: Lightweights in 2022: 5 junior Canadian stocks to buy in May

Bank of Montreal (TSX:BMO)

It is one of the largest banks in Canada and remains an active volume stock. On May 5, the BMO stock's volume was 1.92 million shares, and it was priced at C$ 135.16 per share.

When interest rates are being hiked, the investors often select financial stocks to generate passive income. The BMO stock has a history of paying dividends and could help generate some extra money.

Bank of Montreal last paid a quarterly dividend of C$ 1.33 per unit, and its dividend yield is about four per cent. In the last five years, the dividend grew by 5.7 per cent.

Imperial Oil Limited (TSX:IMO)

In Canada, the oil and gas companies are quite popular among investors, and Imperial Oil Limited has attracted investors' attention since the beginning of this year.

The IMO stock surged 47.6 YTD and around 80 per cent in a year. On May 4, the IMO stock clocked a 52-week high of C$ 69.55 apiece.

On Thursday, 1.89 million IMO shares exchanged hands on the Toronto Stock Exchange, and its RSI value was 65.5, according to Refinitiv data. 

Also Read: Activision soars as Berkshire ups stake: Does Buffett own TSX stocks?

Please note, the above content constitutes a very preliminary observation or view based on digital trends 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.

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