Over the past month, the TSX has been falling hard. As of Tuesday’s close, the TSX had fallen to under 15,300, which is a far cry from the 16,200 that it was at a month ago. You have to go back to April of this year for the last time the index was that low. Many industries and sectors have been hit hard; however, not all stocks have been in the red. Below are three stocks that have soared more than 10% in the past month and that might still be good buys today.
Cameco (TSX:CCO)(NYSE:CCJ) has risen 17% since late September when the company received good news from the tax courts. The stock has faced a lot of adversity over the past year, and a favourable tax ruling was a big break for the company, as it learned that it would avoid a hefty bill from the Canada Revenue Agency. While there are still many uncertainties for Cameco going forward, it’s an important win for investors hoping for a turnaround.
Cameco has struggled in recent quarters, turning a loss in four of its past five reporting periods. Low uranium prices have weighed down the company’s performance, although we are starting to see that improve, and that could mean strong quarters for the company ahead. With the company set to report its earnings early in November, it could be a good time for investors to buy ahead of that, as a strong performance in Q3 could accelerate the stock’s price even further.
Corus Entertainment (TSX:CJR.B) has also started turning things around as it broke through $5 share, and it could be on its way higher as the markets are likely keeping the stock down. The company recently released its quarterly earnings, which saw profits up from a year ago, despite revenues being slightly down. Corus has had a rough year in 2018, but in the past month it is up 15%, and the stock could continue to soar as it looks like investors are becoming bullish on the company once again.
The stock is still trading well below its book value, and it’s still down more than 50% since the start of the year, so there’s definitely more room for the stock to rebound. With the share price continuing to rally, it could be a great time to buy Corus today.
Aritzia (TSX:ATZ) is also up on positive earnings results, as the company’s sales were up over 11% last quarter and profits skyrocketed by more than 76%. The stock has risen by 17% since it released its strong earnings, and year to date the share price is up around 50%. The only question now is whether the stock can continue to rise as it is near its 52-week high and trading at more than 30 times earnings, and around seven times book value.
Investors will be paying a bit of a premium for the stock, but if it can continue its impressive growth it could still be a good buy.
