The S&P/TSX Composite Index started to rally this week after falling at the end of September. After a month of losses, it looks like the market could be on the move once more. Aided by energy, retail, and mining, the TSX today is doing quite well. So, let’s look at stocks that hit 52-week highs this week and aided that rebound process.
Pembina Pipeline
Pembina Pipeline (TSX: PPL)(NYSE: PBA) has slowly but surely been climbing back to 52-week highs, this week hitting the mark. Shares are up 50% year to date as of writing, with the rebound in energy fueling its path to glory (pardon the pun).
Pembina stock remains confident that it will not just reach its annual EBITDA guidance but raised it during its last earnings report. The company now expects adjusted EBITDA between $3.3 and $3.4 billion for 2021. Adjusted EBITDA came in at $778 million for the second quarter and $1.6 billion for the first six months of 2021.
Pembina already announced more cash coming its way, with a partnership with the Haisla Nation to develop the Cedar LNG project and Chinook Pathaways; a partnership with the Western Indigenous Pipeline Group to pursue ownership of the Trans Mountain Pipeline; and it’s partnered with the Alberta Carbon Grid — not to mention creating more clean energy solutions. Finally, it’s receiving a $350 million termination fee from ending the Inter Pipeline deal.
But the greatest part is, you can pick up Pembina stock with a dividend yield of 6% as of writing, dished out monthly. So, there’s really no downside to this stock as it continues climbing higher.
Artizia
Aritzia (TSX: ATZ) also climbed to all-time highs after an incredible earnings report sent shares soaring. Its U.S. expansion went far better than expected. Although it’s been in the U.S. since 2007, management stated no one could have prepared for the amount of growth it recently experienced.
Shares of the company are up 115% in the last year, with analysts now expecting even more growth, as it recently raised its annual guidance. Aritzia stock now expects net revenue of between $350 and $375 million for the third quarter, after the company beat analyst expectations by 18% during the recent report.
There was growth across “all channels,” with net revenue rising 74.9% year over year to $350.1 million, and adjusted EBITDA up 20%. There was an increase of 48.7% in year-over-year e-commerce sales, and retail revenue in general was up 95.3%! The return of retail will remain strong likely through the holiday season, so expect more growth from Aritzia stock.
Teck Resources
Speaking of the holidays, Teck Resources (TSX: TECK.B)(NYSE: TECK) also reached all-time highs this week, trading at just over $36 as of writing. Shares are up 94% in the last year, with shares climbing higher ahead of its earnings report on Oct. 27.
Teck stock explores, acquires, develops, and produces natural resources around the world. The recent coal forecast means Teck stock could indeed benefit from the rise in prices. The ramping up of copper will also help Teck stock for the next several quarters, according to analysts.
Teck remains a solid buy with a strong portfolio of mining assets. The world’s second-largest coal business, growth in copper, and a strong balance sheet put it well into a buy position, with sales EPS set to climb 337% in the next year alone!
