Though we have some green on the screen today, so far, it’s been a rather challenging week or so for most stocks. To reinforce the fact that not all stocks are equal, let’s take a look at some of the names that have risen above this market malaise and are cruising along at a level close to their respective 52-week highs.
Tourmaline Oil Corp. (TSX:TOU)
Tourmaline is an intermediate oil and gas producer with assets located in the Western Canadian Sedimentary Basin (WCSB). As of last night’s close, the company was trading at 99.3% of its 52-week high. The company’s growth profile appears responsible for this solid performance. Tourmaline has recently revised its 2013 average production forecast to 80,000 boepd. This represents 57% growth over 2012’s 50,804 boepd. Investors seemingly approve of this trajectory.
Shoppers Drug Mart (TSX:SC)
Is there a company in Canada, or the world for that matter, that could care less about what the Fed is up to or Chinese PMI? Maybe, but not many. We all know Shoppers and I’m pretty sure not one of us is going stop going there for diapers at 9pm just because the Fed isn’t going to buy bonds on the open market anymore. Shoppers’ stock is acting as a classic safe-haven.
Canada’s biggest movie theatre company is behaving much like Shoppers, offering investors a place to hide. Cineplex pays a nice yield that exceeds 4% and though it’s not cheap, the business is as solid as they come.
Magna Int’l (TSX:MG)
Contrary to what the market might be indicating, the Fed stepping back is in fact a sign of economic strength. This is good for economically-cyclical stocks like Magna. Shares of this company have been on a tear, leading this Fool to question its valuation, and how much further it might run. That being said, momentum is clearly on Magna’s side.
While its peers in Canada’s telecom space have been dinged of late, mostly because of the path interest rates have taken, Quebecor’s stock has been sailing along. The company is steadily building a complete package of media and distribution services in Quebec and this has clearly been appreciated by the market. The stock’s year-to-date gain of 23% dwarfs that of its peers like BCE and Rogers who have appreciated just 1.6% and 2.2% respectively in 2013.
Because of our market’s exposure to resource stocks, Canadian investors who thought they were diversified by simply owning an index-based product such as an ETF or mutual fund have sadly felt the brunt of the recent sell-off. To learn more about this issue and find out what can be done click here now to download at no charge “5 Stocks to Replace Your Canadian Index Fund”. It’s FREE!
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Fool contributor Iain Butler does not own any of the companies mentioned in this report. The Motley Fool has no position in any stocks mentioned at this time
This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.