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Two giant cannabis consumer nations – the US and Mexico – are likely to legalize cannabis this year. Pot stocks are already rallying in anticipation of these legislative moves. The S&P/TSX Cannabis Index is up more than 80 per cent this year.
Medical marijuana stocks are already listed in the North American stock markets. Once the US federal regulator green lights recreational marijuana, Canadian cannabis producers can commence their commercialization across the border legally.
Early pot investors could make higher profits from the upcoming rally.
Two Canadian pot stocks– Aphria Inc. (TSX: APHA) and Village Farms International Inc. (TSX:VFF) – have posted smart returns in the last couple of months. Under the evolving cannabis landscape, these stocks could take further flight.
Let us explore the two TSX-listed cannabis stocks:
Aphria Inc. (TSX: APHA)
The Ontario-based medical cannabis firm has its operations in more than 10 countries including Canada, Germany, the US, etc. Its stocks have gained 280 per cent in one year.
A top price performer on the TSX, with a market cap of C$ 6.74 billion, this pot stock has grown almost 142 per cent this year. Its 10-day average volume is 7.15 million.
The stock price of C$ 21.28 indicates a price-to-cashflow ratio of 2681.60.
In the second quarter of fiscal 2021, ended on November 30, 2020, the marijuana company generated gross revenue of C$ 72.1 million, a 149 per cent rise year-over-year (YoY). Aphria’s net medical cannabis revenue was C$ 67.9 million, a jump of 99 per cent YoY in Q3 FY21.
Image Source: Kalkine @2020
Village Farms International Inc. (TSX:VFF)
This firm exports its packaged marijuana products to the US market. Its shares have yielded a one-year return of over 190 per cent. The stock of this greenhouse farm owner is up nearly 49.50 per cent this year, with a 10-day volume of 1.14 million.
Village Farms has a market cap of C$1.17 billion, with a current price-to-cashflow ratio of 64.20. Its last 30-day trading average volume is 1.02 billion, and its present stock price stands at C$ 19.27.
The company concluded its direct offering with investors on January 20, 2020, for the acquisition and sale of approximately 10.9 million shares at C$ 15.70 to raise almost C$ 171 million (including brokerage costs).
Its subsidiary, Pure Sunfarms, introduced its first cannabis-infused fruit gummies on Thursday, February 4. These cannabis gummies are likely to be available in the market from the next week.
Village Farms generated US$ 43 million from its farm produce sales in the Q3, up 12 per cent year-over-year.
