Top TSX Growth Stocks Under $15

The TSX index has roared back in the spring, while growth stocks like BlackBerry Ltd. (TSX:BB)(NYSE:BB) may still have room to run this year and beyond.

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The S&P/TSX Composite Index shed 47 points on June 4. Investors should be pleased with the overall performance of the TSX this spring after a sharp and troubling decline in February and March. However, the index still has ground to make up to recoup its losses from this year. Today, I want to look at some top TSX growth stocks that are priced under the $10 mark. Let’s dive in.

Top TSX growth stock: Bet on therapeutics

In previous articles, I’d explained why growth investors should be eager to jump into the healthcare space. Biotherapeutics is one of the fastest-growing sub-sectors. The growth stock I want to look at today has put together a stunning run over the last year.

Trillium Therapeutics (TSX:TRIL)(NASDAQ:TRIL) is a Mississauga-based clinical-stage immuno-oncology company. To call Trillium a high performer would be an understatement after witnessing its rise in 2019 and 2020. Shares of Trillium have increased 645% this year as of close on June 4. The stock has soared over 1,900% year over year. This run has been impressive, but can Trillium keep it up?

The company released its first-quarter 2020 results on May 15. Trillium has reported promising data for its novel CD47 checkpoint inhibitors TTI-621 and TTI-622. It also managed to raise $117 million in funding from healthcare investors. The COVID-19 pandemic presented challenges in Q1, but there is still a lot to be excited about at Trillium.

A recent report from Allied Market Research forecasted that the global cancer therapeutics market would reach $180 billion by 2026. This would represent a CAGR of 7.7% stretching from 2019 to the end of the projected period. Trillium is a growth stock that may have much further to run on the back of some promising developments in this space.

Why gold can keep running in the 2020s

Gold has had a remarkable run in 2020 in large part due to volatility spurred by the COVID-19 pandemic. The spot price of the yellow metal soared to a seven-year high in 2020. Unsurprisingly, gold mining stocks have been a beneficiary of this development.

Wesdome Gold Mines (TSX:WDO) is a Toronto-based company engaged in the exploration, extraction, processing, and reclamation of gold in Canada. It has been an impressive growth stock when looking back on its year-over-year performance. However, shares have only increased 3.2% in 2020 as of close on June 4. Shares have hovered around the $10 mark in early June.

In the first quarter of 2020, Wesdome reported gold production of 25,122 ounces — up 32% from the prior year. Revenue rose 76% from Q1 2019 to $57.3 million. The company boasts an immaculate balance sheet and it has delivered promising earnings growth in recent years. This is one of the top growth stocks to own in the gold sector.

One top tech stock with a foothold in promising sectors

Canadian tech stocks like Shopify and Kinaxis have stolen the attention of investors because of their great performance in recent years. However, BlackBerry still has potential to be a top growth stock this decade. When this year started, I’d explained why investors should still have faith in a company that has reinvented itself in recent years.

Shares of BlackBerry have climbed 17% month over month as of close on June 4. In fiscal 2020 it delivered non-GAAP revenue growth of 20%. The company boasts a strong footprint in the cybersecurity sector, and its QNX software has been imbedded in tens of millions of vehicles around the world. Patient investors should still consider BlackBerry for the long term.

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.

Fool contributor Ambrose O'Callaghan has no position in any of the stocks mentioned. Tom Gardner owns shares of Shopify. The Motley Fool owns shares of and recommends Shopify and Shopify. The Motley Fool recommends BlackBerry, BlackBerry, and KINAXIS INC.

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