Arrowings ascending on a chalkboard
Written by Daniel Da Costa at The Motley Fool Canada
There are several opportunities for investors to consider on the market today. After a choppy September, Canadian investors will want to take advantage of cheap stock prices.
Today, whether you want stocks trading undervalued, ones that will return you a hefty amount of cash, or those that can grow your money rapidly, there are tonnes of high-quality businesses to consider.
So, if you’re looking for a few high-potential ideas to consider, here are three of the best Canadian stocks to buy today.
A top Canadian fuel supply company
One of the best Canadian stocks to consider today is Parkland (TSX:PKI), a fuel marketer and supplier that also owns several convenience stores.
Parkland is attractive, because it’s an exceptional long-term investment, but it also offers short-term potential as its business continues to recover from the pandemic. Currently, Parkland’s average target price from analysts is just under $50 — a 39% premium to its current price.
One of the reasons analysts are so bullish on Parkland is because the energy industry continues to see a recovery in demand. And Parkland being the excellent operator that it is, has seen all segments of its business grow year over year, as of the end of the second quarter.
This shows Parkland is well on its way to recovery, and with the recent acquisitions that it’s made, the stock has a tonne of opportunity to continue growing long term.
A top healthcare tech stock
WELL Health Technologies (TSX:WELL) is another Canadian stock analysts are bullish on. The stock’s average target price from analysts is currently $11.67, that’s a 66% premium to its current price.
One of the reasons WELL is such an exciting growth stock is the numerous acquisitions it’s made that are rapidly growing the company. The stock now has an annual revenue run rate of roughly $400 million, with the potential to get to $500 million by the end of 2021.
WELL had a major boost from the pandemic, but ever since the pandemic has gotten under control, investors have been concerned about the future of telehealth and other digital health businesses. WELL has shown, though, that this shouldn’t be a concern.
Circle Medical, a Silicon Valley-based provider of telehealth, has grown its revenue run rate by 346% year over year and continues to expand rapidly. The company has also grown the number of active care providers on its app by more than 600% year over year. And this is just one of many businesses in WELL’s portfolio.
So, if you’re looking for a Canadian growth stock that has potential in the short term and the long term, WELL is one of the best opportunities to consider.
A dirt-cheap Canadian gold stock
Lastly, one of the cheapest stocks Canadian investors can buy today is B2Gold (TSX:BTO)(NYSE:BTG). B2Gold is one of the top gold producers you can buy. It has low costs, an excellent track record and generates tonnes of free cash flow, much of which it returns to investors.
Because gold prices have been slowly declining over the last year, and so many other opportunities have offered exciting potential, stocks like B2Gold have fallen out of favour.
However, today they trade much too cheap, and analysts seem to agree. The average target price for B2Gold shares is $8.35. That’s a 94% premium to the current price. The company currently trades at a forward price-to-earnings ratio of just 6.1 times, showing it’s extremely cheap.
Furthermore, its dividend now yields a whopping 4.8%. That’s not only one of the highest dividends you’ll ever see a gold producer pay. It’s also one of the best yields on the market today.
So, if you’re looking for a value stock that has tonnes of potential and will pay you to wait, B2Gold could be one of the best investments you make this year.
The post 3 Canadian Stocks That Analysts Think Could Soar 39% to 94% in the Next 12 Months appeared first on The Motley Fool Canada.
The Motley Fool’s First-Ever Cryptocurrency Buy Alert
For the first time ever, The Motley Fool has issued an official BUY alert on a cryptocurrency.
We’ve taken the exact same detailed analysis that we’ve used to find world-beating stocks like Amazon, Netflix, and Shopify to find what we believe will be the ONE cryptocurrency to rise above more than 4,000 cryptocurrencies.
Don’t miss out on what could be a once-in-a-generation investing opportunity.
Click here to get the full story!
More reading
Fool contributor Daniel Da Costa owns shares of B2GOLD CORP. and WELL Health Technologies Corp. The Motley Fool has no position in any of the stocks mentioned.
2021