BTE, FCU, SVI, YRI & WELL: 5 cheap TSX retirement stocks

Published on April 27, 2022 11:36 AM EDT

BTE, FCU, SVI, YRI & WELL: 5 cheap TSX retirement stocks — Image source: Pixabay.com

Highlights

BTE has soared 65 per cent year-to-date (YTD)

FCU has grown 61 per cent in a year

YRI has a dividend yield of 2.21 per cent which makes it an interesting watch from a retirement point of view

If you’re thinking about retirement, no matter the stage in your career you’re at, and are concerned about your level of wealth when you do, then looking at cheap stocks may be an option.

Ideally, a comprehensive retirement plan is necessary and the earlier you start, the more time you give your money to grow. This may include among other more stable assets, investments in blue-chip companies with solid fundamentals and world class management teams.

However, for a little diversity and to boost your portfolio, you may look at some cheap stocks. All the stocks listed here are under C$10.

Baytex Energy Corp (TSX:BTE)

Baytex has a market cap of C$3.6 billion and its stock closed Tuesday, April 26, at C$6.47.

Being an oil and gas stock, it has soared a whopping 65 per cent year-to-date (YTD). This stock has ballooned 208 per cent in the last nine months.

The Canadian oil and gas sector may stand to benefit if countries take measures to reduce their dependence on Russian oil.

BTE’s return on equity (RoE) is 115.86.

Fission Uranium Corp (TSX:FCU)

Another energy stock to look at might be that of Fission Uranium with interests in Canada's Athabasca Basin. It has a market cap of C$608 million.

FCU ended Tuesday at C$0.90. The stock has grown 61 per cent in a year and 15 per cent in 2022.

Also read: PAT, ABST, OTEX, BB & DSY: 5 Canadian cybersecurity stocks to consider

StorageVault Canada Inc (TSX:SVI)

StorageVault’s stock costed C$6.54 at the end of the trading day Tuesday. It has returned 53 per cent in a year.

While it has lost 9.3 per cent this year, it has risen nearly two per cent in three months. A C$2.4 billion company in terms of market capitalization, it is a dividend paying stock.

Dividends may be a way of earning some passive income while in retirement. It has a dividend yield of 0.17 per cent.

Also read: TD, BNS, BMO, CM & NA: 5 TSX bank stocks if large rate hikes worry you

Yamana Gold Inc (TSX:YRI)

Gold is considered by many investors to be a hedge against inflation. One way of indirectly investing in gold is by investing in gold mining companies.

Yamana’s stock has spiked 26 per cent in three months and 30 per cent this year. It closed Tuesday at C$6.90.

Its market cap is C$6.6 billion and it has a dividend yield of 2.21 per cent which makes it an interesting watch from a retirement point of view.

Also read: FNV, AEM, WPM, FM & IVN: 5 TSX metal stocks to watch amid rising USD

WELL Health Technologies Corp (TSX:WELL)

WELL Health is the healthcare stock on this list. It closed Tuesday at C$4.72, after gaining 3.5 per cent.

The stock is down 3.8 per cent YTD but it has rebounded 9.5 per cent in three months and over two per cent in the last 30 days.

Its market cap is C$982 million.

Also read: RCI.B, BCE, T, SJR.B & QBR.B: 5 TSX telecom stocks to consider in May

Bottom line

Investment in cheap stocks should not be your only retirement plan. But some cheap stocks may provide supplementary income and wealth. It is best to do deep research into the company and its fundamentals and plans apart from how the stock has fared.

Also read: How does current inflation compare to 1970s stagflation?

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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