Great outlook for 2021 @developbc Pyrogenesis - An exciting TSX stock to own in your portfolio mentioned in Yahoo News: 3 TSX Stocks to Buy With $1,000 Today:
PyroGenesis (TSX:PYR)(NASDAQ:PYR) is a Montreal-based company that designs, develops, manufactures, and commercializes advanced plasma processes and systems in Canada and internationally. This TSX stock has climbed 59% in the year-to-date period at the time of this writing. Its shares have soared 770% from the prior year.
Investors got a look at its fourth-quarter and full-year 2020 results on March 31. Revenues jumped 269% year over year to $17.7 million while net earnings and comprehensive income surged $50.9 million from the prior year to $41.7 million. In short, it was a good year for PyroGenesis. These successes opened the door for a listing on the NASDAQ in the first quarter of 2021.
For its 2021 outlook, management pointed out its solid balance sheet and its strong organic growth prospects. Moreover, its outlook stated that it did not need to rely on tax credits or subsidies for its product lines. Still, these will provide a solid tailwind going forward. This TSX stock still boasts a P/E ratio of 23, putting it in favourable value territory compared to industry competitors. https://ca.news.yahoo.com/3-tsx-stocks-buy-1-220006344.html