The Toronto Stock Exchange (TSX) is performing quite well in the first quarter of this year. Canada’s primary stock market index closed at 18,854 on March 19, 2021 — an 8% year-to-date gain. On the same day, the volume of transactions increased 126% from the preceding trading day to 602.5 million.
Investors can still find top stocks selling at depressed prices. If you want to take positions in the second quarter, Barrick Gold (TSX:ABX)(NYSE:GOLD), Ballard Power Systems (TSX:BLDP)(NASDAQ:BLDP), and Neptune Wellness (TSX:NEPT)(NASDAQ:NEPT) are no-brainer buys.
Warren Buffett may have influenced investors after Berkshire Hathaway sold its entire holdings in the Canadian gold producer in Q4 2020. Nevertheless, it opens a buying opportunity. The share price is down 9% year to date. Snag the gold stock now before the precious metal springs back to life.
Management is on a quest to make Barrick Gold the world’s most valued gold company. It has a five-year and 10-year plan to focus and attain the lofty objective. According to Barrick’s executive chairman John Thornton, the company has emerged even stronger from a difficult year. The progress since the transformational merger with Randgold is significant.
Another growth catalyst is the 2019 joint venture with Newmont. Barrick established the Nevada Gold Mines, because it could unlock the formed full potential of one of the world’s largest and most prospective gold endowments. For would-be investors, the gold stock trades at $26.17 per share and pays a 1.72% dividend.
Clean technology leader
Ballard Power trades at a bargain following the slide in price from $52.23 on February 8, 2021. You can purchase the industrial stock today at only $31.17. This $9.26 billion company from Burnaby, Canada, is the world’s leading provider of clean energy and fuel cell solutions.
The Canadian firm develops and manufactures proton exchange membrane fuel cell products. Ballard’s products cater to markets such as heavy-duty motive, portable power, and material handling. The cleantech leader also provides engineering services.
Besides the home country, Ballard has offices in China, Europe, and the United States. Ballard’s zero-emission proton exchange membrane (PEM) fuel cells enable electrification of mobility in passenger cars, buses, commercial trucks, trains, marine vessels, and forklifts.
In its latest press release, management announced that Ballard’s PEM fuel cell technology and products powers fuel cell electric vehicles. It has clocked 75 million kilometres on roads globally in commercial heavy and medium-duty motive applications.
Transforming the wellness industry
Neptune Wellness flies under the radar, although the forthcoming federal legalization of marijuana in the U.S. should favour the stock. The $335.95 million integrated health and wellness company builds a portfolio of lifestyle brands and consumer packaged goods products.
Private businesses and government customers avail of Neptune’s turnkey product development and supply chain solutions. It caters to various health and wellness verticals, including legal cannabis and hemp plus nutraceuticals and white label consumer packaged goods. Extraction and purification services are available, too.
Management believes cannabinoids and plant-based ingredients are the future of consumer-packaged goods. Neptune’s extraction, nutrition, and cannabis expertise are innovative and should transform the wellness industry. Buy the stock now at $2 before the share price doubles to $4 in the next 12 months.
Don’t miss the bargain deals on the TSX if you have free cash to spare. The three stocks in focus are potential multi-baggers in 2021.
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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 Christopher Liew has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Berkshire Hathaway (B shares) and recommends the following options: short January 2023 $200 puts on Berkshire Hathaway (B shares) and long January 2023 $200 calls on Berkshire Hathaway (B shares).