3 Small Cap TSX Stocks to Watch

Canadian investors should consider purchasing smaller cap stocks on the Toronto Stock Exchange like HIVE Blockchain Technologies (TSX:HIVE).

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If you don’t have a lot of money to invest in the stock market, there isn’t much to worry about. There are plenty of stocks selling at affordable prices on the Toronto Stock Exchange. The great part about buying small to mid-cap stocks is that they have plenty of room to run which could translate into high returns for your stock market portfolio.

Here are three small to mid-cap stocks on the TSX to watch this year. You may even decide to buy some of these inexpensive, potential winners.

HPQ-Silicon Resources stock preparing for success

HPQ-Silicon Resources (TSX:HPQ) rose from a 52-week low of $0.05 to a 52-week high of $1.18 over the past year. At the time of writing, the stock is trading for $1.04 per share. You can buy 100 shares of HPQ for just over $100!

HPQ-Silicon Resources explores for quartz and silicon materials in Canada and manufactures solar cells. The company has also shared some exciting news with investors.

  • HPQ and Apollon Solar renewed their agreement to develop silicon materials for energy storage and hydrogen production on February 4.
  • Gen1 PUREVAPTM Nano Silicon Reactor (“NSiR”) commissioning tests are leading the way for low-cost manufacturing of Nano Silicon for batteries.

Bernard Tourillon, President and CEO of HPQ, had this to say about the success of the NSiR tests:

“With the Gen1 PUREVAPTM NSiR operational and exceeding expectations from the start, HPQ NANO is uniquely positioned to be at the forefront of low-cost manufacturing of Nano Silicon for batteries and other applications, as we continue working on scaling up the capabilities of our PUREVAPTM NSiR process.”

HIVE Blockchain Technologies expanding crypto mining capacity

HIVE Blockchain Technologies (TSX:HIVE) rose from a 52-week low of $0.135 to a 52-week high of $3.50 last year. At the time of writing, the stock is trading for $2.81 per share.

HIVE Blockchain Technologies is a cryptocurrency mining company in Canada, Sweden, and Iceland. The company sells digital currencies, including Ethereum and Bitcoin.

HIVE Blockchain is the most liquid stock on the TSX.V. Last year, investors traded 1.7 billion shares. If you want a venture stock with sufficient trading activity, HIVE might be a good choice.

Moreover, the company has made some exciting announcements. The company is planning on expanding its Ethereum footprint and increasing its capacity to mine bitcoin. The prices of these cryptocurrencies have soared and now might be a good time to invest in a company like HIVE.

Facedrive launches EV subscription service in Toronto

Facedrive (TSX:FD) rose from a 52-week low of $1.96 to a 52-week high of $57.00 last year. As of Friday, the stock is trading for $53.54 per share. Technically a mid-cap stock at a market capitalization of nearly $5 billion, this is still a good buy on the TSX.

Facedrive is Canada’s ride-sharing company. On February 4, the company announced that it is expanding Steer, an electric vehicle subscription service in Toronto. In September 2020, Facedrive acquired Steer, a Washington, D.C. – based electric vehicle subscription service.

Ridesharing platforms are feeling some heat from the COVID-19 pandemic. Consumers are taking fewer rides as a result of going out less often. Nevertheless, there is some long-term value in this ride-sharing platform.

Now is the time to buy this stock before the price pops more.

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 Debra Ray has no position in any of the stocks mentioned. 

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