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Start 2016 Right With These 3 Stocks

There are a number of stocks that can be purchased at prime discounts now, especially with the continued weakness in the market. With some careful selection, the downturn of 2015 can become a source of growth in 2016 and beyond. Here’s a look at a couple of stocks to consider adding to your portfolio.

Amaya Inc.

Amaya Inc. (TSX:AYA)(NASDAQ:AYA) is a technology company that has an impressive portfolio in the online gaming industry, controlling nearly 70% of the online poker market. The company has massive revenue potential that is only just beginning to be tapped.

Online gambling is starting to take off in the U.S. again after a crackdown and subsequent near shut down several years ago. Currently, Amaya has a number of applications pending across the U.S. to allow state residents to engage in online gambling through the company’s products.

Earlier this year New Jersey granted the company approval to its residents to access those games legally. The expectation is that as applications are granted, additional jurisdictions will file applications to permit online gambling in those areas as well.

Amaya currently trades at $16.73. The company was down nearly 40% in 2015 primarily due to currency fluctuations during the last quarter. The company has generated impressive revenues so far at an increasing rate. Given the market size that is set to expand with each new jurisdiction that allows online gambling, the potential for this company to grow is massive.

Agrium Inc.

Agrium Inc. (TSX:AGU)(NYSE:AGU) is one of the largest providers for the agricultural industry and the largest to-grower distribution network in the world. The company has products and services that encompass both retail and wholesale segments.

Agrium is in a unique position. Global increases in population are forcing dietary changes to developing countries, and with those changes will come the need for more crops and fertilizers that Agrium provides. This one factor alone makes the company a great long-term option for investors.

When looking at sales numbers, keep in mind that Agrium has a seasonality factor to its sales. The vast majority of sales come in during the fall season around harvest time. This is when farmers begin to stock up for next year’s crops. This has had a tendency over the past few years to boost the stock price up during that period, which we are in the tail end of.

Agrium is currently trading at $120. For 2015, the stock performed well and finished up over 7%.

Telus Corporation

Telus Corporation (TSX:T)(NYSE:TU) is one of the largest telecommunications companies in the country, offering phone, wireless and Internet services to consumers across the country.

The company just finished off a great quarter that saw significant increases to both the wireless and TV/Internet subscriber base. Telus is also in the midst of the largest infrastructure investment the company has ever engaged in; an estimated $4.5 billion is being allocated to both infrastructure and spectrum increases.

Telus pays out one of the best dividends on the market and has raised it an impressive 12 times in the past five years. This is a trend the company will likely be continuing later this year. The company is also engaging in a share-buyback program; over eight million shares were purchased back by the company over the past few quarters, which increases shareholder value.

Telus currently costs $37.40 and finished 2015 down by 10%.

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Fool contributor Demetris Afxentiou has no position in any stocks mentioned. Agrium is a recommendation of Stock Advisor Canada.

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