HUT, TVE, ATH, ACB & CRON: Cheap TSX stocks under $5 to buy in June

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HUT, TVE, ATH, ACB & CRON: Cheap TSX stocks under $5 to buy in June

Canada cheap stocks
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  • Investing in cheap stocks could be worth exploring for new investors.
  • The Toronto Stock Exchange in Canada has a wide variety of cheap stocks to offer under $5.
  • Equities markets have recorded increased volatility this year, and many people could be looking to diversify their investment portfolios. 

In Canada, the Toronto Stock Exchange (TSX) has a wide variety of stocks to offer to retail investors. However, the price range of the shares also varies, and some investors might get confused while selecting the stocks.

If you are a new investor and confused about where to invest your money, we have curated a list of five cheap stocks listed on the TSX for under five Canadian dollars.

Let's look at them:

Hut 8 Mining Corp. (TSX:HUT)

Although the crypto market has crashed massively, investors in the long-term could consider exploring the stock of the digital miner. Hut 8 is located in Alberta, and it is among the top miners due to its high installed capacity rates.

Recently, the digital asset miner announced its first-quarter results and said it achieved a solid quarterly revenue of C$ 53.3 million.

Also, the company's Bitcoin holdings increased 17% year-over-year (YoY) to 6,460. The HUT stock appears to be available at a discounted price, and on May 24, it closed 10 per cent down at c$ 2.87 per share. The stock's 52-week high was C$ 20.61 apiece, and the 52-week low was C$ 2.81.

Tamarack Valley Energy Ltd. (TSX:TVE)

The energy sector has performed well since the beginning of this year at a time when equities markets have recorded increased volatility. The S&P/TSX Energy Index has surged by 54.7 per cent year-to-date (YTD) and 4.8 per cent month-to-date.

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

Exploring stocks of energy companies could be worth considering if an investor is looking to diversify their investment portfolio. Tamarack Valley is a producer of oil and natural gas, and it also recently announced a monthly dividend of C$ 0.0083 per share.

In Q1 2022, Tamarack achieved quarterly production of 41,335 barrels of oil equivalent per day (boe/d), reflecting an increase of 73% YoY. On May 24, the TVE stock closed at C$ 4.89 apiece after recording a surge of 3.3 per cent during the trading session.

Canada stocks under $5

Athabasca Oil Corporation (TSX:ATH)

Athabasca produces light oil and liquids-rich natural gas. The ATH stock closed 0.8% higher at C$ 2.39 per share and holds a price-to-book (P/B) ratio of 1.398.

In Q1 2022, Athabasca Oil said it achieved a record free cash flow of C$ 44 million. Meanwhile, the production was above guidance at 34,679 boe/d.

As of March 31, 2021, Athabasca had cash and cash equivalents worth C$ 213.5 million. Also, the operating income increased to C$ 150.6 million in Q1 2022 from C$ 65.9 million in Q1 2021.

Aurora Cannabis Inc. (TSX:ACB)

Aurora is one of the largest cannabis producers and has cultivation facilities and exporting agreements in over 20 countries. The company's brand portfolio includes Daily Special, CanniMed, Aurora, and San Rafael.

Aurora Cannabis has increased the target for expense savings, and the management now expects C$ 150 million to C$ 170 million in Annualized Cost Savings by the first half of 2023.

In Q3 2022, the medical cannabis net revenue jumped 8% YoY to approximately C$ 39.4 million. Meanwhile, the total net revenue was C$ 50.4 million in the same period.

Cronos Group Inc. (TSX:CRON)

The Toronto-based company sells and cultivates medicinal and recreational cannabis. Exploring cannabis stocks could be an option for long-term investors as the market is expected to expand.

The CRON stock was priced at C$ 3.95 per share after registering a growth of 2.3 per cent during the trading session on May 24.

In Q1 2022, Cronos' consolidated net revenue jumped 99% YoY to US$ 25 million. Meanwhile, the cannabis producer narrowed down its net loss to US$ 32.65 million from C$ 161.6 million in Q1 2021.

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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