Breaking News
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

3 of the Hottest Growth Stocks to Buy Right Now

Stock MarketsJul 28, 2021 09:15
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
3 of the Hottest Growth Stocks to Buy Right Now

The S&P/TSX Composite Index has yet to lose steam in July 2021. Investors can take advantage of buying opportunities, such as these three hot growth stocks. You don’t need substantial capital, as the share prices range from $3.50 to $6.50 only.

The upside potential of Capstone Mining (TSX:CS), NuVista Energy (TSX:NVA), and Alcanna (TSX:CLIQ) could be anywhere from 30% to 62% in the next 12 months.

Red-hot mining stock Capstone Mining is red hot thus far in 2021 with its 119.33% year-to-date gain. At $5.22 per share, the trailing one-year price return is a whopping 361.95%. Had you invested $10,000 a year ago and still hold the mining stock, your money would be worth $47,889.91 today.

Market analysts predict the price could still rise between $6.83 (+30.8%) and $8.07 (+54.6%). The $2.14 billion company is a base-metals producer, particularly copper. It owns two copper-producing mines, one each in the U.S. and Mexico. San Domingo, a top quartile copper-iron-gold project, is the only fully permitted greenfield project in Chile.

Jeffrey Currie, Goldman Sach’s global head of commodities, tags copper as the “new oil” that investors should own today. He said the red metal is the strategically most important commodity if you want to electrify the world.

The company’s multi-generational open-pit copper mine in Pinto Valley, Arizona, has a remaining mine life of 18 years. Cozamin, a silver-copper underground mine in mineral-rich Zacatecas City in Mexico, has more than 10 years. Capstone is well positioned to benefit from higher copper prices due to depleting inventory.

Industry high flyer NuVista Energy is a high flyer with its incredible 275.5% gain so far this year. The stock performances of top names in the energy sector like Enbridge, Pembina Pipeline, and Keyera are no match to this obscure condensate and natural gas company.

Had you invested $5,000 in this energy stock on year-end 2020, your capital would have grown to $18,776.60 today. Based on analysts’ estimates, the return potential could range from 46.7% to 112.5%. Unlike the energy giants, NuVista doesn’t pay dividends. However, the windfall could more than compensate for the zero payouts.

The business turnaround from Q1 2020 to Q1 2021 was eye-popping. NuVista’s revenue increased 19.5%, while the net income was $15.4 million versus the $788.7 million net loss in the same period last year. Management’s immediate plan is to maximize returns from existing facilities and rapid debt repayment.

Excellent reopening play Alcanna isn’t a high flyer like Capstone or NuVista, although the stock’s year-to-date gain is nearly 10%. Market analysts, however, see a higher return potential than the mining stock and energy stock. Their price forecasts are an average of 62% to a maximum 112.2% gain.

Edmonton’s $234.6 million company is the dominant wine, spirits, and beer retailer in Alberta and British Columbia. Its majority-owned subsidiary, Nova Cannabis, is listed on the TSX Venture Exchange. Nova operates cannabis retail stores in Alberta, Ontario, and Saskatchewan.

Alcanna should be an excellent reopening play. In Q1 2021 (three months ended March 31, 2021), revenue grew by 2.8% to $142.2 million compared to Q1 2020. The quarter’s highlight was the $47.6 million net earnings versus the $9.27 million net loss a year ago.

Considerable windfall The three stocks are screaming buys, especially for frugal investors. Your bit of capital could produce a considerable windfall within a year.

The post 3 of the Hottest Growth Stocks to Buy Right Now appeared first on The Motley Fool Canada.

Fool contributor Christopher Liew has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Enbridge. The Motley Fool recommends KEYERA CORP and PEMBINA PIPELINE CORPORATION.

This Article Was First Published on The Motley Fool

3 of the Hottest Growth Stocks to Buy Right Now
 

Related Articles

3 of the Best Canadian Growth Stocks to Buy Right Now
3 of the Best Canadian Growth Stocks to Buy Right Now By The Motley Fool - Sep 27, 2021

Among the key drivers of this incredible bull market is the technology sector. Indeed, in Canada, tech stocks provide a great deal of growth for long-term investors with reasonable...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email