4 of the best TSX stocks to buy now on a budget
We know that a large initial investment is not a requirement to start investing in stocks. You can start to build a solid portfolio even with a few hundred dollars. However, I would suggest that investors save and invest regularly and have the patience to stay invested for the long term for stellar returns. So if you are planning to start investing in stocks, consider buying those TSX stocks for less than $ 20 right now.
Investors looking for a high growth, undervalued tech stock should consider buying the shares of Absolute software (TSX: ABST) (NASDAQ: ABST) at current price levels. It continues to grow its revenues and margins at a decent rate thanks to the continued momentum in its core businesses. Additionally, increased spending on cybersecurity threats suggests that Absolute Software may continue to deliver strong financial data in the years to come.
With increased demand for its security software and services, Absolute Software’s annual recurring revenue growth rate has accelerated for three consecutive quarters. I expect its recurring revenue momentum to continue, reflecting continued demand in its corporate and government vertical. In addition, the acceleration in the growth of its education segment and its growing international footprint should support its finances and, by extension, its action. Absolute Software’s stock trades cheaper than its peers. Meanwhile, her Adjusted EBITDA is growing at a stellar rate, implying more on the rise in its stock.
Similar to Absolute Software, I’m optimistic about WELL Health Technologies (TSX: GOOD). I expect the company to generate disproportionate returns over the long term, reflecting skyrocketing growth in its financial services and increased demand for its offerings. Well Health anticipates strong business growth in Canada and expects solid sequential improvement.
I believe the continued momentum of its digital and in-person channels, increasing scale, international expansion, and favorable industry trends may continue to drive its inventory up. In addition, its strong pipeline of acquisitions should accelerate its growth rate. Well Health stock has seen a healthy correction of late, presenting an excellent buying opportunity.
Goodfood Market (TSX: FOOD) is another high increase, a low cost stock that could offer sky-high returns in the long run. The online grocery business is experiencing strong growth in its active customer base. At the same time, it is experiencing strong revenue growth, driven by increased adoption of online grocery services and strategic initiatives to drive sales.
Strong favorable winds from secular industry, expanding capacity, robust delivery capabilities and increasing product offering are likely to accelerate its growth, boost active subscriber base, frequency orders and basket size. Additionally, Goodfood Market share has fallen around 33% this year and looks like an attractive long-term bet at current price levels.
Kinross Gold (TSX: K) (NYSE: KGC) remains well positioned to deliver strong growth and income to its long-term investors. Its growing production volumes, falling costs and strong fundamentals suggest strong growth in revenues and margins in the years to come. Meanwhile, its higher exposure to gold is encouraging.
Kinross Gold stock trades cheaper than all of its peers and offers great value for money. In addition, it has restored its dividend payments and offers a return of 1.7%.
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This article represents the opinion of the writer, who may disagree with the âofficialâ recommendation position of a premium Motley Fool service or advisor. We are Motley! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer, so we’re posting sometimes articles that may not meet recommendations, rankings or other content. .
Silly contributor Sneha Nahata has no position in any of the listed securities. The Motley Fool recommends Goodfood Market.