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Highlights
- Canadians fearing market volatility often prefer to put their money in safe investment options like large-cap stocks.
- Holding a range of different stocks can provide broad exposure to your portfolio.
- A stock listed below zoomed by over 174 per cent in the past year.
Canadians fearing market volatility often prefer to put their money in safe investment options like large-cap stocks that are likely to resist market fluctuations.
Including stocks from different sectors, like Power Corporation (TSX:POW) the financial sector, Metro (TSX:MRU) from the consumer sector, Tourmaline (TSX:TOU) from energy, etc. can provide broader exposure to your portfolio.
Considering these key elements, let us discuss five TSX stocks priced under C$ 80 that can help you resist market volatility to a certain extent.
1. Power Corporation of Canada (TSX: POW)
Power Corporation is a Montreal-headquartered holding firm with a stake in financial service businesses and alternative asset investment platforms in North America, Asia and Europe.
The diversified holding company posted a net profit of C$ 626 million in Q4 FY2021 compared to C$ 623 million a year ago.
POW scrip spiked by about 10 per cent in 12 months.
Also read: Can this Canadian social media stock be your alternative for Twitter?
2. Cameco Corporation (TSX: CCO)
Cameco Corporation has been producing uranium and nuclear fuel products and services for three decades to generate electricity at nuclear reactors worldwide.
The Canadian uranium company reported net earnings of C$ 11 million in Q4 FY2021, down from C$ 80 million in Q4 2020.
CCO stock swelled by roughly 68 per cent year-over-year (YoY).
3. Hydro One Limited (TSX: H)
Hydro One is known for electricity transmission and distribution across Ontario. It claims to serve almost 1.4 million customers, including residents and businesses spanning about 75 per cent of Ontario’s geography.
The utility company recorded C$ 159 million in net income in Q4 2021, i.e., down from C$ 161 million a year ago.
The utility stock grew by around 18 per cent in 12 months.
4. Metro Inc (TSX: MRU)
Metro Inc is a grocery retail company. Its sales were up by 1.9 per cent YoY to C$ 4.27 billion in Q2 FY2022.
Its net profit also rose by 5.3 per cent YoY to C$ 198.1 million in the latest quarter.
Stocks of Metro expanded by about 23 per cent in a year.
Also read: OTEX, MG and POW: Should you buy these 3 TSX value stocks in May?
5. Tourmaline Oil Corp (TSX:TOU)
Tourmaline Oil produced increased average production by 42 per cent YoY to 441,115 barrels of oil per day in 2021.
The oil company saw its net profit swell by 58 per cent YoY to C$ 996.24 million in Q4 FY2021.
Tourmaline Oil stock zoomed by some 174 per cent in a year.
Bottomline
When planning for investment, investors should ideally take note of multiple factors specific to a company that could impact their stock prices and weigh them against their risk-reward goals.
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.
