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6 Stocks Geared for Big Growth in the Coming Decades

As the S&P/TSX Index extends its summer swoon, Canadian investors should be on the lookout for attractive long-term plays to avoid fretting about short-term losses. Let’s take a look at six stocks that have the potential for big returns in the coming years and decades.

Maple Leaf Foods Inc. (TSX:MFI) is a Canadian consumer packaged meats company that has also begun to move into vegetarian and vegan alternatives. The company possesses a wide moat with a strong foothold in Canadian markets. Meat prices are expected to rise in the coming years, and vegetarian and vegan alternatives are becoming extremely popular for younger generations. The stock has increased 22% in 2017 as of August 30 and 126% over a 10-year period. It also offers a dividend of $0.11 per share with a dividend yield of 1.28%.

Aphria Inc. (TSX:APH) remains a favourite for investors in marijuana stocks. The stock comes at a nice price for a company that is making smart moves and just released financial results showing industry-low production costs. The company is well positioned for explosive growth when marijuana is legalized in July 2018.

Innergex Renewable Energy Inc. (TSX:INE) is a Canadian developer, owner, and operator of hydroelectric facilities and solar farms in North America. Renewable energy is one of the fastest-growing markets and a beneficiary of the green-energy revolution sweeping the planet in response to the dangers presented by climate change. The stock has gained 4.5% in 2017 and boasts a 4.5% dividend yield at $0.17 per share.

Brookfield Renewable Partners LP (TSX:BEP.UN)(NYSE:BEP) is a Toronto-based limited partnership that owns and operates renewable power assets. It has seen 9.4% growth in 2017 and seeks to benefit off of the aforementioned green-energy push in North America. The stock also offers a 5.3% dividend at $0.58 per share.

Fairfax India Holdings Corp. (TSX:FIH.U) is an investment holdings company with interests in private and public equity securities and debt instruments in India and Indian businesses. India is fast becoming one of the largest economies in the world and has a rapidly growing middle class. It possesses a massive population, which presents huge opportunities for growing businesses. The stock has increased 52% in 2017 and 62% year over year. Investors who want to have an interest in a country that is projected to be a future economic superpower should look to add this growth stock to their portfolios.

ATS Automation Toolings Systems Inc. (TSX:ATA) is an Ontario-based company that designs and builds factory automation solutions. Automation is set to radically transform modern economies as companies look for ways to improve efficiency across the board. The stock has gained 37% over a five-year period and is well positioned to capitalize off of this revolutionary trend.

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Fool contributor Ambrose O'Callaghan has no position in any stocks mentioned. Brookfield Renewable Partners is a recommendation of Dividend Investor Canada.

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