When it comes to Bay Street, and investing in general, patience is what pays. You could look at the one-month performance of TSX stocks and see thousands of dollars lost. Or you could zoom out and see what those same shares have done over the last few years — even decades. People who trust in long-term investment strategies are those that continue to be paid well based on the latter investment strategy. That’s what we at Motley Fool Canada recommend.
But it’s never a bad thing if a stock is supposed to do well. There are stocks could do very well in the next year alone. So, here are three TSX stocks analysts expect could triple in the next year alone.
First up, we have Aptose Biosciences (TSX:APS)(NASDAQ:APTO). This clinical-stage biotechnology company discovers and develops personalized therapies for unmet medical needs in cancer treatments. Shares continued to plummet during the last year, as investment in cancer treatments just frankly was not met. In the last year alone, shares are down 54%.
But that creates the prime opportunity among TSX stocks that provide one heck of a deal. When the coronavirus is under control, cancer patients will finally have their treatments met. There is an enormous backlog, and Aptose is attempting to meet the unmet needs of these patients. There is going to be a huge investment in healthcare in the future, and this company is likely to get some of that action. Meanwhile, the company continues to have a strong balance sheet, able to support all its current projects and research.
Next up we have Lundin Mining (TSX:LUN), a diversified base metals mining company throughout Chile, Brazil, the United States, Portugal, and Sweden. The reason analysts like this among TSX stocks is because it touches practically every type of base metal from gold to nickel. It holds 100% of most of its mines and 80% of the rest.
The company’s most recent earnings report was more than just strong, with revenue almost doubling in the last year alone! It’s a perfect Motley Fool Canada choice. Along with that, it moved from a loss in 2020 to profit of $252.5 million. The company continues to explore and build more mines, so this is one investors are likely to see grow in their portfolio for decades to come.
With interest rates set to rise and the economy rebounding, shares are down after a huge climb in the last year. Shares are up just 54% in the last year alone. Based on several analyst recommendations, the average price target reached $16 for the next year, representing a potential upside of 61% as of writing.
Finally, investors should also pay attention to Aurinia Pharmaceuticals (TSX:AUP)(NASDAQ:AUPH), a clinical stage biopharmaceutical company that develops and commercializes therapies for various diseases. It mainly focuses on the United States and China, though it’s a Canadian company.
Shares are down by 27% in the last year due to the lack of funding for this company. It continues to operate with a loss, as it attempts to ramp up production and research in the wake of the pandemic. But analysts remain hopeful that this company is one of the TSX stocks that’s a strong buy.
The recent selloff in the company came in the wake of the poor earnings result. But Motley Fool Canada long-term investors shouldn’t be scared off by this. The company’s recent FDA approval of Lupkynis for lupus treatment means there is likely to be solid earnings by next year. This has created a solid buying opportunity for investors. Based on several analyst recommendations, there is an average price target of $33.90. This is over double at 106% from its current share price of $16.50 as of writing.
Each of these TSX stocks provide a solid entry point and the potential for strong gains. But I would never recommend a stock based only on analyst recommendations. Make sure to do your own research and decide whether these stocks belong in your portfolio today.
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 Amy Legate-Wolfe has no position in any of the stocks mentioned.