2 TSX Stocks That Will Continue to Grow

Keep a close eye on these two TSX stocks as market volatility continues.

| More on:
grow money, wealth build

Image source: Getty Images

Not all stocks on the TSX suffer losses during volatile market conditions. Some companies can thrive under harsh circumstances due to the tailwinds created by uncertainty. The S&P/TSX Composite Index has been going up and down daily as various factors continue to increase uncertainty in global financial markets.

Russia’s invasion of Ukraine on February 24, 2022, has stirred up a significant degree of volatility. As investors flee risk, many assets traditionally considered as high growth stocks are suffering massive losses by being sold off in droves.

But the volatility is not bad for all growth stocks. Suppose that you are willing to stomach the risk that comes with investing in growth stocks. In that case, you can find opportunities on the TSX, provided you know where to look.

Today, I will discuss two TSX stocks that have been performing well in recent weeks and can deliver superior returns as the uncertainty continues.

Nutrien

Nutrien Ltd. (TSX:NTR)(NYSE:NTR) is a $68.09 billion market capitalization fertilizer company headquartered in Saskatoon. It is the largest potash producer worldwide and the third-largest company among global nitrogen fertilizer producers. The company plays a critical role in helping people grow crops worldwide through its products.

Potash is one of the key ingredients used by growers. Russia and Belarus are the second- and third-largest potash producers after Canada. Considering the current geopolitical situation and the sanctions resulting from them, Nutrien stock could see a massive surge in demand for its products.

Nutrien stock trades for $124.00 per share at writing, and it boasts a 1.96% dividend yield. Its shares are up by over 35% year-to-date, and we could see its valuation soar further in the coming weeks.

Wheaton Precious Metals

Various commodities see a substantial surge in prices during volatile market environments. People look to safe-haven assets as a hedge against inflation and uncertainty. Gold and other precious metals are considered excellent stores of wealth during such times, and Wheaton Precious Metals Corp. (TSX:WPM)(NYSE:WPM) is a stock that can benefit from rising gold prices during uncertain market environments.

Wheaton Precious Metals stock is a $27.18 billion market capitalization precious metals streaming company headquartered in Vancouver. The company is not a traditional mining stock, but it stands to benefit significantly when gold prices rise.

The company offers upfront financing to precious metal mining companies in exchange for getting access to their products at a discounted rate. As gold prices look set to rise further due to the current geopolitical climate, it might make for a good investment.

WPM stock trades for $60.29 per share at writing, and it boasts a 1.27% dividend yield. It is up by 13.71% year to date and looks well-positioned to post further gains.

Foolish takeaway

It is crucial to understand that no investment comes without capital risk. Identifying the companies that can thrive under certain circumstances impacting the market right now and how things could shape up for them in the future can help you find investments that boast the most promise.

Nutrien stock and Wheaton Precious Metals stock are two such assets that could showcase significant strength and deliver stellar shareholder returns in the current environment.

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 Adam Othman has no position in any of the stocks mentioned. The Motley Fool recommends Nutrien Ltd.

More on Dividend Stocks

Blocks conceptualizing Canada's Tax Free Savings Account
Dividend Stocks

How to Use Your TFSA to Double Your TFSA Contribution

If you're looking to double up that TFSA contribution, there is one dividend stock I would certainly look to in…

Read more »

woman looks at iPhone
Dividend Stocks

Retirees: Is TELUS Stock a Risky Buy?

TELUS stock has long been a strong dividend provider, but what should investors consider now after recent earnings?

Read more »

Concept of multiple streams of income
Dividend Stocks

Is goeasy Stock Still Worth Buying for Growth Potential?

goeasy offers a powerful combination of growth and dividend-based return potential, but it might be less promising for growth alone.

Read more »

A person looks at data on a screen
Dividend Stocks

How to Use Your TFSA to Earn $300 in Monthly Tax-Free Passive Income

If you want monthly passive income, look for a dividend stock that's going to have one solid long-term outlook like…

Read more »

View of high rise corporate buildings in the financial district of Toronto, Canada
Dividend Stocks

Passive Income Seekers: Invest $10,000 for $38 in Monthly Income

Want to get more monthly passive income? REITs are providing great value and attractive monthly distributions today.

Read more »

Forklift in a warehouse
Dividend Stocks

Invest $9,000 in This Dividend Stock for $41.88 in Monthly Passive Income

This dividend stock has it all – a strong yield, a stable outlook, and the perfect way to create a…

Read more »

An investor uses a tablet
Dividend Stocks

3 No-Brainer TSX Stocks to Buy With $300

These TSX stocks provide everything investors need: long-term stability and passive income to boot.

Read more »

analyze data
Dividend Stocks

End-of-Year Retirement Planning: 3 Buy-and-Hold Stocks for Canadian Investors

Choosing the right stocks for the retirement portfolio differs from investor to investor. However, there are some top stocks that…

Read more »