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

4 of the Best Canadian Stocks to Buy Today

Stock MarketsJun 17, 2021 12:15
Saved. See Saved Items.
This article has already been saved in your Saved Items
4 of the Best Canadian Stocks to Buy Today

The Canadian economy continues to rebound with the TSX continue to trade at all-time highs. Some of the best Canadian stocks to buy are those that will do well during this recovery. Yet many investors have been taking on risk looking for strong growth, growth that isn’t sustainable. Here at the Motley Fool Canada, we recommend sustainable income.

So here are four Canadian stocks to buy that should continue to see sustained income for years, and decades, to come.

WELL Health Technologies There was a lot of growth for WELL Health Technologies (TSX:WELL) during the last year, leaving some wondering if things will return to pre-pandemic levels after the pandemic is over. However, that’s simply not the case for WELL Health stock.

WELL Health stock is now the country’s largest outpatient clinic and continues to expand. It’s raking in revenue, recently reported record-setting revenue of 150% year over year. Shares are up 198% in the last year alone as well and are heading toward all-time highs. I continue to be bullish on telehealth stocks as options for the future.

Physicians simply save too much time and money by offering this service, and WELL Health stock continues to be one of the Canadian stocks to buy for sustainable income.

Lightspeed stock Lightspeed POS (TSX:LSPD)(NYSE:LSPD) is another company working back toward all-time highs. There are many Canadian stocks to buy in the tech industry, but I would definitely put Lightspeed stock at the top of my list.

That’s because the company is taking on a different approach to its e-commerce peers. Rather than investing in a few countries and expanding on a large scale, it’s taking the “land and launch” approach. This is where Lightspeed stock lands in as many countries as possible and launches slowly and steadily from there.

The company looks to be focused on this for the next five years at least, according to Chief Executive Officer and Founder Dax Dasilva. Since January 2020, Lightspeed stock has invested US$2.3 billion almost in acquisitions. Almost half that was made recently by Lightspeed stock investing a total of US$975 million in two acquisitions. So this could be an excellent time to buy and wait for revenue to soar for this Motley Fool Canada recommendation.

Nutrien But it’s not just tech stocks that have been climbing. Another industry seeing massive improvement is the crop nutrients industry. In particular, crop nutrient provider Nutrien (TSX:NTR)(NYSE:NTR) is increasing its potash production due to demand. This demand allowed it to increase its annual guidance in expectations of a strong spring. So it’s definitely one of the Canadian stocks to buy ahead of this increase.

Nutrien boasts the market share of the crop nutrient industry, and that’s only going to increase as its continues to acquire businesses. Meanwhile, shares are up 62% in the last year alone! And it offers a dividend yield of 2.88% to boot. It’s one of the top recommendations made by Motley Fool Canada writers. So definitely add this to your list of must-haves as the economy rebounds.

Spin Master Finally, with consumers paying down debt and increasing savings, they’re looking to spend. One area this is going to happen is with toys. Spin Master (TSX:TOY) boasts several revenue streams that have seen massive success in the last year. There’s Paw Patrol fuelling revenue both now and in the future with a new film on the way. There’s also its digital gaming industry, which has been exploding in the last year.

Spin Master is one of the best Canadian stocks to buy with a recovery on the way. The company saw revenue increase 39.3% year over year during the last report, with a 21.3% increase in sales. Yet it remains a deal trading at 3.7 times book value, and shares are also up 91%! There’s been a correction, so now is the best time to buy up this stock while you can.

The post 4 of the Best Canadian Stocks to Buy Today appeared first on The Motley Fool Canada.

Fool contributor Amy Legate-Wolfe owns shares of Lightspeed POS Inc. and WELL Health Technologies. The Motley Fool owns shares of and recommends Lightspeed POS Inc and Spin Master Corp. The Motley Fool recommends Nutrien Ltd.

This Article Was First Published on The Motley Fool

4 of the Best Canadian Stocks to Buy Today

Related Articles

Facebook, PayPal, Uber Fall Premarket; Ford Rises
Facebook, PayPal, Uber Fall Premarket; Ford Rises By - Jul 29, 2021

By Peter Nurse -- Stocks in focus in premarket trade on Thursday, July 29th. Please refresh for updates. Facebook (NASDAQ:FB) stock fell 3.1% after the social...

3 Top Under-$30 TSX Stocks I’d Buy Right Now
3 Top Under-$30 TSX Stocks I’d Buy Right Now By The Motley Fool - Jul 29, 2021

You must have heard many times before that you don’t need a lot of money to start investing in stocks to create wealth. While that is true, one should not buy stocks based...

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’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
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?
Replace the attached chart with a new chart ?
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'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
Sign up with Email