4 Cheap, High-Growth TSX Stocks to Buy Today

These low-priced stocks have solid growth potential.

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The S&P/TSX Composite Index increased over 18% this year, getting support from improved economic activities and revival in consumer demand. While most of the top TSX stocks are trending higher, a few are still trading cheap and are well within investors’ reach. 

Let’s dig deeper into four such low-priced and high-growth Canadian stocks that investors could add to their portfolios right now. 

Goodfood Market  

Let’s start with Goodfood Market (TSX:FOOD), which I believe has solid growth potential and is still trading cheap. This online grocery services provider has appreciated significantly in the past. Moreover, I see further upside in Goodfood Market stock, thanks to the favourable industry trends. 

Despite the expected normalization in growth amid the reopening of physical retail stores, I believe Goodfood stock could continue to grow, benefitting from the continued adoption of online grocery services and increased demand for its products and services. 

Goodfood Market’s dominant positioning in the online grocery space in Canada, robust fulfillment capabilities, and growing scale will likely accelerate its growth. Meanwhile, the expansion of online offerings, targeted marketing, and reduction in delivery time will likely drive its active subscriber base and push its stock price higher.

Kinross Gold

The weakness in gold prices has led to a sharp decline in Kinross Gold (TSX:K)(NYSE:KGC) stock. Notably, its stock is down about 32% in one year. Nevertheless, I’m still bullish on the company’s long-term prospects and see this dip in the price as an excellent opportunity for growth-seeking investors.

I expect Kinross Gold stock to benefit from its high-quality production and low-cost mines. Meanwhile, its solid growth projects, increased exposure to gold, and robust balance sheet provide a solid foundation for growth. It’s worth noting that the gold producer pays a regular dividend. Further, Kinross Gold stock trades at a much lower EV/EBITDA multiple than its peers, making it an attractive value buy.  

WELL Health Technologies

WELL Health Technologies (TSX:WELL) is another low-priced and high-growth stock for your portfolio. Notably, WELL Health stock has delivered stellar returns in the past and outpaced the broader markets by a wide margin. The impressive growth in its stock was backed by its exceptional financial performances aided by its accretive acquisitions.

I believe WELL Health will continue to benefit from its growing revenues, solid M&A pipeline, and secular industry tailwinds. Its acquisitions are likely to strengthen its competitive positioning in high-growth markets and drive its cash flows. Moreover, digitization of clinical assets, growth opportunities in the domestic business, and cost-containment initiatives should support its growth. WELL Health stock is trading cheap despite its massive growth potential, providing an attractive long-term buying opportunity.

StorageVault Canada

StorageVault Canada (TSXV:SVI) stock is another attractive bet owing to its solid growth potential. Notably, this low-priced stock has witnessed strong buying recently and could continue to deliver significant returns, thanks to its strong fundamentals. 

I believe the storage company’s robust acquisition pipeline, higher occupancy, and improved efficiency could continue to support its financials, boost its cash flows, and push its stock higher. Additionally, organic growth opportunities, dominant positioning in the domestic market, significant barriers to entry, and growing rental space bode well for future growth.

Meanwhile, the company regularly enhances its shareholders’ returns with regular dividend payments, which is encouraging.

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 Sneha Nahata has no position in any of the stocks mentioned. The Motley Fool recommends Goodfood Market Corp.

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