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Scoop Up These 4 Growth Stocks Today

The S&P/TSX Index has increased 0.86% in 2018 as of close on January 22. The International Monetary Fund (IMF) also adjusted its forecast for Canadian growth in 2018 on the same day. The IMF expects Canada to post growth of 2.3% in 2018 and 2% in 2019.

With domestic and global growth boosting investor sentiment to its highest level since 2009, there are still attractive options for investors seeking substantial portfolio growth this year.

Aurora Cannabis Inc. (TSX:ACB)

Aurora stock rose 7.57% on January 22. Shares have climbed 51% in 2018 so far. Aurora has been engaged in important talks over the weekend, and reports indicate that it could be close to acquiring both CanniMed Therapeutics Inc. and Newstrike Resources Ltd. The deal would allow Aurora to leapfrog Canopy Growth Corp. and become the largest cannabis producer in Canada.

Aurora has surged over 400% in a three-month span, but it could feasibly have much more room to run if this deal goes through ahead of legalization in July.

Avigilon Corp. (TSX:AVO)

Avigilon is a Vancouver-based business intelligence and security solutions company. Its stock has increased 7.5% in 2018 and 74% year over year. The video surveillance market is expected to grow to $75.6 billion in 2022 compared to $30 billion in 2016, according to research firm MarketsandMarkets.

In the third quarter of 2017, Avigilon posted record revenue of $108.2 million, representing growth of 13% year over year. The company also reported a record adjusted EBITDA of $22.6 million from $16.7 million in Q3 2016.

BlackBerry Ltd. (TSX:BB)(NYSE:BB)

BlackBerry stock has climbed 17.8% in 2018 and 74% year over year. BlackBerry has proven that it is a company that cannot be ignored after executing an impressive transition from hardware to software and services.

Its footprint in mobile cybersecurity and autonomous vehicles should propel the stock well into the next decade. The global mobile cybersecurity market is expected to grow at a compound annual growth rate (CAGR) of 29.2% from 2018 to 2023, according to market researcher Research N Reports. A report from IHS Market estimates that worldwide annual sales of autonomous vehicles will reach 33 million by 2040 compared to the 51,000 units expected to be sold in 2021.

Magellan Aerospace Corp. (TSX:MAL)

Magellan is a Mississauga-based company that operates through subsidiaries to manufacture aero-engine and aero-structure components. The stock is down 1% in 2018 and has climbed 19.2% year over year. The company released its third-quarter 2017 results on November 7.

Revenues were down 2.3% year over year to $232.6 million from $238 million. Gross profit rose 6.4% to $41.3 million, and net income was also up 2.7% to $19.3 million. Magellan was selected by European multinational Airbus in September 2017 to build exhaust systems for the A320neo Pratt & Whitney 1100G-JM engines Nacelle. The company expects to continue its growth trajectory alongside the commercial aircraft industry at large.

Magellan also announced a quarterly dividend of $0.09 per share, representing a 1.6% dividend yield.

One stock to buy before the iPhone-Android war escalates any further...

It's not Apple. Or Google. Verizon or AT&T. In fact, you've probably never even heard this company's name. Yet it's so vital to the "smartphone" revolution that its shares have doubled time and time again since they first hit the shelves. And if industry insiders are right, the rapidly escalating war between iPhone and Android is about to push this stock even higher.

For the full behind-the-scenes story straight from Motley Fool Canada, just click here now.

Fool contributor Ambrose O'Callaghan has no position in any stocks mentioned. The Motley Fool owns shares of BlackBerry. Avigilon and BlackBerry are recommendations of Stock Advisor Canada.

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