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Highlights
- Canadians may still be able to take away profits without denting their budgets by investing in cheap stocks.
- The Canadian stock market has many quality stocks, priced much lower than blue-chip or mid-cap stocks, that delivered notable returns to its shareholders over the last one year.
- A stock mentioned here galloped by approximately 1,350 per cent in the last one year.
A tight budget need not be a barrier while planning investment. Canadians may still be able to take away substantial profits without denting their budgets by investing in cheap stocks.
The Canadian stock market has many quality stocks, priced much lower than blue-chip or mid-cap stocks, that delivered notable returns to its shareholders over the last one year. Let us have a look at three top TSX stocks priced under $5.
- Journey Energy Inc (TSX:JOY)
Journey Energy is one of the top energy companies in Canada, with production operations in western Canada. The Calgary-headquartered crude oil and natural gas producer saw its third-quarter net income at C$ 92.24 million in FY2021 compared to a net loss of C$ 8.03 million in Q3 2020.
Journey, which currently has a return on equity (ROE) of 951 per cent, saw its stock close at C$ 4.06 apiece on Monday, January 31, after clocking a day high of C$ 4.19. Journey stock galloped by approximately 1,350 per cent in the last one year.
Also read: 2 TSX real estate stocks to hold for the long haul
2. InPlay Oil Corp (TSX:IPO)
InPlay Oil, on January 12, said that it expects 2022 average production to range somewhere between 8,900 to 9,400 barrels of oil equivalent per day. The energy company announced that its Board of Directors had approved a capital program worth C$ 58 million for fiscal 2022.
The Calgary-based oil and gas firm reduced its net debt by six per cent in Q3 FY2021 and also accomplished a production growth of 12 per cent year-over-year (YoY). In Q3 2021, its adjusted funds flow surged by 675 per cent YoY to reach C$ 15.6 million.
InPlay stock closed at C$ 3.10 apiece on Monday, with a one-year return of 900 per cent.
Also read: Top 2 Canadian tech stocks to buy as IT sector stages comeback
3. Verde Agritech Plc (TSX:NPK)
Verde Agritech recorded a revenue increment of 169 per cent YoY to C$ 10.6 million in Q3 FY2021. The agriculture company increased its net profit to C$ 1.09 million in the latest quarter, reflecting a YoY surge of 192 per cent.
Stocks of Verde Agritech soared by about 13 per cent to close at C$ 4.43 apiece on Monday. The agriculture scrip rose by over 361 per cent in the past one year.
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4. Gear Energy Ltd (TSX:GXE)
Gear Energy generated C$ 16 million as funds from operations in Q3 FY2021, noting a quarter-over-quarter (QoQ) increase of 31 per cent. The GXE stock closed at C$ 1.38 apiece on Monday. Stocks of Gear Energy increased by over 441 per cent in the past one year.
5. Bri-Chem Corp (TSX:BRY)
Bri-Chem is an Edmonton-based company that supplies drilling fluids to the oil and gas industry. The chemical distributor reported a top line of C$ 16.5 million in Q3 FY2021, a YoY rise of 121 per cent.
The Bri-Chem stock closed at C$ 0.235 apiece on Monday and delivered a one-year gain of over 161 per cent.
Bottom line
Some investors prefer investing in pocket-friendly stocks as these might fetch significant gains depending on the operational growth and fundamental strength of the companies.
Also read: 3 top dividend stocks to buy in February
