After posting a new high on the previous trading day, TSX’s upward momentum stalled on November 10, 2021. Global equities likewise took a breather from their rallies. Colin Cieszynski, Chief Market Strategist at SIA Wealth Management, thinks markets are consolidating as the earnings season winds down.
Nevertheless, Canada’s primary index remains in record territory and could steamroll again in the coming sessions. Meanwhile, bargain hunters can continue to scout around for some great growth stocks. Crew Energy (TSX:CR), EcoSynthetix (TSX:ECO), and BlackBerry (TSX:BB)(NYSE:BB) have gone berserk riding on TSX’s bull run in the last 12 months. However, the share prices remain ridiculously cheap right now.
Crew Energy is hard to ignore because of its price vis-à-vis the explosive return. At $3.11 per share, the trailing one-year price return is 606.32%, and the year-to-date gain is 455.36%. Had you bought $6,000 worth of shares on year-end 2020, your capital would have grown to $34,555 on November 10, 2021.
Due to rising commodity prices, the $486.95 million growth-oriented natural gas producer is having a terrific year, financially and operationally. In Q3 2021, its West Septimus gas plant delivered a record throughput in natural gas production. After three quarters, total revenue was $229.69 million, a 141% drop from the same period in 2020.
From a $237.84 net loss last year, Crew reported a net income of $154.39 million in the nine months ended September 30, 2021. Among management’s near-term initiatives are investing in capital projects with strong return rates and bringing 10 wells in onto production in 2022.
Potential growth driver
BlackBerry never had it so good until the last 12 months. The tech stock has delivered 103.89% in one year. At $13.11 per share, current investors relish the 55.33% year-to-date gain. BlackBerry is on the radars of Reddit investors, although CEO John Chen wants people to dismiss the label because the focus is on fundamentals.
In Q2 fiscal 2022 (quarter ended August 31, 2021), the $7.43 billion company saw its businesses beat revenue expectations. Mr. Chen said, “We are already seeing benefits from establishing the two key business units.” Cyber Security and IoT (Internet-of-Things) are the core segments and growth drivers.
Some market observers, however, the auto-app store IVY will lift BlackBerry’s stock. They say it’s something to look forward to in early 2022 when management releases the project’s progress. Automakers and other app developers could sell subscription services to drivers.
EcoSynthetix no longer flies under the radar after the 2021 TSX30 List came out in September. It ranked number 14 ahead of top tech stocks like Real Matters and Absolute Software. Also, this industrial stock is a bargain at $5.50 per share, considering the 87.71% trailing one-year price return.
The $314.91 million renewable chemicals company specializes in bio-based materials. Its sustainable engineered biopolymers help customers reduce the use of harmful materials like formaldehyde. Ecosynthetix widened its net loss in Q3 2021 to $2.24 million, indicating the continuing impact of the pandemic.
However, management is confident profits will return soon as EcoSynthetix lowers its cost footprint and achieves sustainable growth in the coming quarters.
The three growth stocks in focus are very cheap in relation to their long growth runways. You can fill your portfolio basket with them for superior gains in 2022.