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Highlights
- Some TSX-listed companies managed to survive the pandemic better than their peers.
- Some of them also delivered returns of over 200 per cent on a year-to-date basis.
- The highest ROE posted by the companies discussed here was 28.93 per cent, and the highest stock return was 340.52 per cent YTD.
Despite the pandemic that created a temporary roadblock for many sectors and companies to operate, some stocks listed on the Toronto Stock Exchange soared over 200 per cent YTD. The prices of these stocks are considered cheap but can increase as these companies expect to grow in the future. These growth stocks are believed to have long-term growth potential and are pocket-friendly.
On that note, let us explore growth stocks that soared over 200 per cent YTD.
- Playmaker Capital Inc. (TSXV:PMKR)
This C$ 121.91 million market cap company conducts business as a digital sports media company based in Toronto. As per the latest report, Playmaker acquired Futbol Sites, a top digital media company in Latin America and the US.
Stocks of Playmaker closed at C$ 0.69 on August 20, 2021. On August 16, 2021, it reached its 52-week high of C$ 0.77 apiece.
The stock price ballooned nearly 341 per cent over the past year and on a year-to-date (YTD) basis.
Playmaker Capital posted revenue of US$ 3 million in the second quarter of the fiscal year 2021. Its operating income was US$ 0.4 million in the same quarter.
During Q2 FY21, Playmaker raised additional equity of C$ 24 million. The company stood with a price-to-book (P/B) ratio of 13 on August 23, 2021.
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- Noront Resources Ltd. (TSXV:NOT)
The mining company acquires and explores metals ranging from copper, nickel, and other precious metals. Noront Resources held outstanding shares of 458.27 million and a market cap of 270 million on August 20.
The stock’s price closed at C$ 0.59 on August 20, trading roughly 293 per cent above its 52-week low of C$ 0.15 (November 19, 2020).
Over the past 12 months, the stock increased by roughly 237 per cent, and on a YTD basis, it expanded by nearly 219 per cent.
Noront Resources incurred a net loss of C$ 5.23 million in Q1 FY21, down from a net loss of C$ 8.03 million in Q1 FY20. The valuation metrics highlight a return on equity (ROE) of 28.93 per cent posted by the company.
Also Read: 2 rising TSXV stars under $5 that could interest you in 2021
- Hemisphere Energy Corporation (TSXV:HME)
This oil company held a market cap of C$ 71.46 million and outstanding shares of 88.23 million. The investors of Hemisphere Energy enjoyed a P/B ratio of 3.95 and a debt to equity (D/E) ratio of 1.29 and an ROE of 0.74 per cent posted by the company on August 20.
The stock price closed at C$ 0.81 on August 20. It traded at 730 per cent above its 52-week low of C$ 0.10 (November 18, 2020) on this day. The stock price rocketed by 564 per cent in the last nine months, whereas it expanded by 315 per cent on a YTD basis.
Hemisphere Energy posted a record revenue of C$ 10.1 million in Q2 FY21, up 311 per cent Year-over-Year (YOY).
Its production level increased by eight per cent on a quarter-over-quarter (QOQ) basis in the same quarter. The net debt during the quarter was reduced by 81 per cent YOY.
Also Read: 2 TSX stocks that can double in a year
- Jericho Energy Ventures Inc (TSXV:JEV)
Jericho Energy is a low-energy transmission company that invests in hydrogen extraction and storage systems. The company’s market cap was C$ 158.69 million and outstanding shares of 220.41 million. The P/B ratio of the company stood at 7.1 (at the time of writing).
The stock price of Jericho Energy closed at C$ 0.72 on August 20. It reached its 52-week high of 1.22 on February 16, 2021, and a 52-week low of C$ 0.11 on August 24, 2020.
The past year saw the stock’s price increase by 545 per cent, and on a YTD basis, it increased by nearly 216 per cent.
Jericho Energy participated in the US Department of Energy Hydrogen Earthshot Program and submitted its research conducted on Dynamic Combustion Chambers.
- Vision Lithium Inc (TSXV: VLI)
The mining company explores lithium-based properties in Canada. Vision Lithium held a market cap of C$ 21.82 million and outstanding shares of C$ 207.8 million. The company stood with a D/E ratio of 0.01 and a P/B ratio of 1.167.
The stock’s price closed at C$ 0.105 on August 20, which traded 425 per cent above its 52-week low of C$ 0.02 (December 18, 2020). The stock price surged by 200 per cent on a YTD basis and expanded by 320 per cent in the last nine months.
The management of Vision Lithium announced the start of a diamond drilling program, which planned to expand 4,000 meters. The program is set to test copper and polymetallic targets located in Quebec, Canada.
Bottom line:
These low-price stocks or growth stocks are often vulnerable to significant price swings, so well-informed investors must look at the risks of investing in these stocks.
