Are these TSXV stocks worth watching this season?

February 02, 2023 02:22 AM EST | By Tamnna
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  • TSX-Venture Exchange’s original name was the Canadian Venture Exchange (CDNX).
  • Canadian companies that are too small to be registered on the TSX get listed on TSXV.
  • GreenPower reached the 101 all-electric vehicle deliveries mark in Q3 2022.

TSX Venture Exchange (TSXV), formerly known as the Canadian Venture Exchange (CDNX), is a stock exchange in Alberta, Canada. The Vancouver and Alberta stock markets merged to create TSXV.

With TSXV, smaller businesses whose assets, operations, and market capitalization were insufficient for them to be listed on the Toronto Stock Exchange (TSX) were enabled to effectively access capital alongside protecting their investors.

TSXV is owned and operated by the TMX Group and contains small-cap Canadian companies. Moreover, nearly 400 of the approximately 1,700 companies on the TSX-Venture Exchange are part of the S&P/TSX Venture Composite Index, which had gained 10.4 per cent year-to-date (YTD) at the time of writing.

Even though TSXV has been performing well, factors like a possible recession and continuously rising inflation have warned investors to stay cautious and invest smartly.

In light of the above, let’s glance at three TSX-Venture Exchange-listed companies and their recent developments:

Patriot Battery Metals Inc. (TSXV: PMET)

Patriot Battery Metals Inc. is a mineral exploration business engaged in buying and developing mining properties that contain precious, basic, and battery metals. The company's flagship project is the fully owned Corvette Property, which is close to the Trans-Taiga Road and a powerline infrastructure corridor in Quebec's James Bay Region.

The Freeman Creek Gold Property in Idaho, USA, where the Gold Dyke Prospect and the Carmen Creek Prospect are two potential gold opportunities, is owned entirely by Patriot.

The company has recently informed the market of core assay data of 14 further drill holes at its flagship Corvette property.

According to the official company report, drill hole CV22-083 intercepted 156.9 m at 2.12 per cent Li2O, including 25.0 m at 5.04 per cent Li2O or 5.0 m at 6.3 per cent Li2O, making it the widest, highest grade lithium drill intercept retrieved to date at the CV5 Pegmatite.

Patriot also announced that the company is now trading under the symbol PMETF on the OTCQX Best Market, an operator of regulated platforms for trading 12,000 US and foreign securities starting on December 8, 2022.

Quipt Home Medical Corp. (TSXV: QIPT)

Quipt Home Medicap Corp. offers end-to-end respiratory treatments and in-home monitoring and disease management services to patients in the US. The company's main goal is to increase shareholder value by giving patients who require in-home monitoring and chronic disease management access to a wider selection of services.

The company has recently informed the market of acquiring Great Elm Healthcare, LLC, a Great Elm Group, Inc. division from December 31, 2022. Great Elm runs service sites for a range of durable medical equipment linked to respiratory care in eight Midwest, Southwest, and Pacific Northwest states.

Through this acquisition, Quipt and Great Elm are said to have generated annualized revenues and adjusted EBITDA of US$ 220 million and US$ 47 million, respectively. These figures are based on Great Elm's unaudited results for the 12 months that ended August 31, 2022, and Quipt's audited results for the fourth quarter of 2022.

Quipt’s financials are showcased below:

© 2023 Krish Capital Pty. Ltd.

GreenPower Motor Company Inc. (TSXV: GPV)

GreenPower Motor Company designs, manufactures, and sells transit buses, school buses, shuttles, cargo vans, and a cab and chassis. With the help of its OEM platform, the company hopes to satisfy the demands of its operators while offering common parts for simple maintenance and warranty requirements.

The company has recently reported delivering record of 101 all-electric vehicles for its third-quarter fiscal 2022. GreenPower represents itself as a manufacturer and distributor of zero-emission, electric-powered, medium, and heavy-duty vehicles; achieving this 101-mark is a significant improvement for the company compared to the previous quarters.

During the third quarter of 2022, GreenPower completed round 2 of the West Virginia School Bus Pilot Project. The round 2 results excelled in winter circumstances on hilly terrains, which included the Type D BEAST and Type A Nano BEAST zero-emission, all-electric school buses.

Bottom Line

Following the extremely volatile condition of the equities market, driven by factors like recession, increased interest rates, and rising inflation, investors should thoroughly analyze the market before investing in stocks.

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.


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