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Investing in the stock market is a tricky business. While established players are more likely to offer stable, long-term returns, stocks with lower valuations also garner significant investor attention because of their discounted prices.
Investors also often seek out low-cost stocks with the expectation that if there is a jump in their price, it could open the door to earn healthy returns. However, discounted stocks also come with some risks.
Now, let’s look at three stocks that are currently trading under the value of C$ 1 in Canada — Bombardier Inc (TSX:BBD.B), Namaste Technologies Inc (TSXV:N) and Minera Almos Inc (TSXV:MAI).
Bombardier Inc (TSX:BBD.B)
Business aircraft manufacturer Bombardier Inc could offer a fair risk-reward to its investors considering the company’s long-established presence in the industrials sector.
While the company operates in geographies including Europe, North America, Asia-Pacific, etc, although its largest share of revenues is earned from the North American market.
The C$ 2.38 billion-market cap player’s stock opened trading at C$ 0.99 on the TSX on Wednesday, June 2. It is currently about six per cent lower than its 52-week high of C$ 1.05.
The stock holds a price-to-book (P/B) ratio of –0.28, as per TMX and a 10-day average daily trading volume of about 4.4 million.
With the sale of its transportation operations in January 2021, the company used proceeds from this transaction, as well as some liquid cash, to deleverage its balance sheet.
In its first quarter ending March 31, 2021, the company reported an 18 per cent year-on-year (YoY) jump in its business jet revenues, which touched US$ 1.3 billion in the quarter.
Namaste Technologies Inc (TSXV:N)
Namaste Technologies operates an online platform for the sale of cannabis products, accessories, and education on cannabis consumption, called CannMart.
The scrip’s last close on the TSXV, as on Tuesday, June 1, was at C$ 0.21, about 60.4 per cent lower than its 52-week high of C$ 0.53 (June 9, 2020).
The C$ 83.3-million market cap company currently holds a price-to-book ratio of 2.1, as per TMX.
A rebound in the cannabis stock could be expected seeing the improving demand for cannabis products. The market for these products may also widen in the wake of US and Mexico’s plans to legalize cannabis consumption.
Namaste Technologies reported a slight increase in its net revenue from operations during the first quarter ending February 28, 2021, as against the same period last year.
The company said its cannabis revenue, which contributed about 47 per cent to its net revenues, rose 113 per cent YoY.
Minera Alamos Inc (TSXV:MAI)
Minera Alamos is a gold development company with a C$ 304.6 million market capitalization. The scrip, which last closed at C$ 0.69 on the TSXV index, rose nearly 61 per cent in the last one year.
The stock holds a 52-week high of C$ 0.78 (July 11, 2020), which is about 10 per cent higher than its last close on Tuesday.
The gold development company offers a price-to-earnings ratio of 87.60, while its return on equity is about 35 per cent, as per TSX data.
The above constitutes a preliminary view and any interest in stocks should be evaluated further from investment point of view.
