Three TSX stocks from different sectors are exhibiting extraordinary momentum heading into Q2 2021. The upward trend seems unstoppable, given the incredible year-to-date gains. If you have $3,000 spare cash to invest, you can consider buying the shares today while they’re still cheap.
High-return resource plays
Crescent Point Energy (TSX:CPG)(NYSE:CPG) trades at only $5.24. The current share price is 408.74% higher than it was a year ago. Had you purchased $1,000 worth of shares then, your money would be worth $5,240 today. Analysts forecast the price to appreciate to $8 (+53%) in the next 12 months.
The energy sector is the second-best-performing sector thus far in 2021. Its year-to-date gain is 29.93% versus the TSX’s 7.57%. Crescent’s EPS of $0.12 in 2020 beat consensus estimates ($0.05) handily. Management expects to generate $1.84 billion in revenues for the current fiscal year — a 44.97% improvement than the fiscal year 2020.
This $2.77 billion company from Calgary is a leading oil producer in North America. Its primary focus is developing high-return resource plays. Crescent will acquire Shell’s Kaybob Duvernay assets. The strategic move should give the company access to the premier and established liquids-rich space.
HIVE Blockchain Technologies (TSXV:HIVE) mirrors the phenomenal surge of Bitcoin in 2021 and more. The blockchain stock trades at $4.14, or a year-to-date gain of 73.22%. A year ago, the share price was only $0.19. HIVE is the safer alternative to Bitcoin.
Some analysts suggest holding HIVE longer, as it should appreciate further with the higher adoption of cryptocurrencies by institutional investors. The $1.43 billion cryptocurrency mining company from Vancouver engages in the mining and sale of digital currencies, including Bitcoin.
This growth-oriented company aims to build a bridge from the blockchain sector to traditional capital markets. It could because HIVE has the first-mover advantage and provides a pure-play blockchain investment. Would-be investors gain exposure to the operating margins from cryptocurrency mining plus a growing portfolio of coins.
HIVE owns three state-of-the-art green energy-powered data centre facilities that produce newly minted digital currencies. The locations are in Canada, Iceland, and Sweden.
Corus Entertainment (TSX:CJR.B) is an odd top performer, given the 10% revenue decline in 2020 (year ended August 31, 2020) and $625.3 million net loss. Investors are winning by 37.5% year to date. The current share price of $5.90 share is 129% more than on March 26, 2021.
Declining advertisement revenues are hurting radio and TV, although Corus has controlled costs remarkably. Remember that JR Shaw, Shaw Communications’s founder, is also the founder of Corus Entertainment. Today, the company’s TV services portfolio of consists of 33 specialty channels and 15 conventional stations. Its 39 radio stations broadcast in eight of the 10 top markets in Canada.
If you were to invest in Corus Entertainment today, the $1.23 billion media and content company pays a respectable 4.07% dividend. Market analysts are bullish and recommend a buy rating. They forecast the price to top $9 (+53%) in the next 12 months.
Investors should take a closer at the three top-performing stocks and include them in the shopping list for Q2 2021. The skyward direction of Crescent Point Energy, HIVE Blockchain Technologies, and Corus Entertainment seems unstoppable. Your $3,000 could double or even quadruple by year-end.
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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.