Home » Investing » 3 TSX Stocks Offering Short-Term Gains and Long-Term Value
Motley Fool investors not knowing where to turn should consider these three TSX stocks that should continue posting gains long term.
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Amy Legate-Wolfe
Amy became interested in investing in 2018 after having her first daughter. After receiving a masters degree in journalism from Western University, she became frustrated that the finance industry remained a confusing place for Canadians like her: new parents, millennials, and other young people who needed to understand their finances.
Now, Amy focuses on tech companies and renewable energy for growth opportunities, coupling that with long-term investing strategies and equities.
Before joining Motley Fool Canada, she wrote for major news organizations including HuffPost, CTVNews.ca, and CBC. Amy’s work can be found regularly on the Financial Post and MoneyWise Canada.
When she’s not researching investing strategies, Amy’s time is pretty much monopolized by her two wild daughters, but in what little spare time she has she loves to do yoga, go on walks with her dog Finley, and travel.
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Latest posts by Amy Legate-Wolfe (see all)
- Canadian Blue-Chip Stocks: The Best of the Best for March 2024 - March 11, 2024
- This Growth Stock is Down 9%: Buy, Sell, or Hold? - March 11, 2024
- 3 Top Artificial Intelligence Stocks to Buy in March - March 11, 2024
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| More on: CMCMLNWH.UN
The S&P/TSX Composite Index is a place of misery these days. After gaining 4% during the first part of 2022, TSX stocks plunged by 6% in April due to a variety of causes. I could go into them here, but, honestly, there are other articles on that. Today, I’m offering solutions.
It’s Sunday, and you want to start the week fresh. It’s a great time to do your research and see whether these three TSX stocks are perfect for your portfolio. Then you can buy them at Friday’s prices before heading into the week strong. Let’s get into it.
Loblaw
Loblaw (TSX:L) is a solid company to consider for long-term buyers, but it’s also been outperforming TSX stocks lately. Shares are up 7% in the last month alone, while other companies have been falling. Furthermore, shares of Loblaw stock are also up 14% year to date. And that’s only set to grow stronger.
Loblaw is Canada’s largest grocery retailer, having everything available from low-cost grocery options and pharmaceutical needs even to gas. It also provides access to its loyalty program and credit cards, building up an astounding digital ecosystem for customer engagement.
This has led the company to provide growth in earnings and revenue even throughout the pandemic. With earnings due next week, Motley Fool investors could be due for another boost in share price, despite trading at 52-week highs. Plus, you can lock in a 1.23% dividend yield and still buy near valuable levels. Shares trade at 21.69 times earnings at writing.
CIBC
If you want true, unadulterated value, you should head to the Big Six banks. But of those, I love Canadian Imperial Bank of Commerce (TSX:CM)(NYSE:CM). The fifth-largest bank in Canada provides the largest dividend yield and great growth opportunities thanks to improvements to its core banking operations.
These improvements have included better customer satisfaction, updated products, and focus on the Canadian market. As it continues to operate at a higher level, shares are due to rebound after the recent drop. Shares are down 3% year to date, and 9% in the last month alone.
But, as we’ve seen again and again, Canadian banks always make a comeback. And CIBC will as well. So, now is a great time to take advantage of the bank’s share price trading at 9.92 times earnings. And to lock in a seriously high 4.56% dividend yield.
NorthWest
While Loblaw was affected at the beginning of the pandemic, and CIBC is being affected now, NorthWest Healthcare Properties REIT (TSX:NWH.UN) has been steady as a rail. After the March 2020, shares have been climbing at a steady pace, though have come back a bit during this latest drop on the TSX.
The healthcare sector proved its worth during the pandemic, and NorthWest continues to take advantage of that. It’s expanding throughout the world with every type of healthcare property, increasing its asset value to record heights. And that doesn’t look to be slowing down anytime soon.
NorthWest has seen shares rise 40% in the last two years, but just by 1% as of writing in the last year. However, this includes the drop of 5% in the last month alone, where it climbed 4% year to date before this decline. The company trades at incredible value levels with shares trading at 6.79 times earnings.
