Top Canadian Stocks to Buy With $5,000 in December 2022

Here are two of the best Canadian stocks you can buy with as little as $5,000 now to expect outstanding returns on investments in the long run.

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Many new investors have the wrong idea that stock investing requires a lot of money and time to begin with, which prevents them from taking the first step in the stock market. But, in fact, stock investing could be one of the most flexible and arguably the least time-consuming ways of multiplying savings — especially if you focus on the long-term gains.

In this article, I’ll highlight two of the best stocks in Canada you can buy in December 2022 with an investment as low as $5,000 and see your money grow over time much faster than you think.

Corus Entertainment stock

Corus Entertainment (TSX:CJR.B) has been one of the worst-affected stocks on the Toronto Stock Exchange by the macroeconomic uncertainties-driven recent market selloff. The stock of this media and content firm currently trades with 58.3% year-to-date losses at $2.03 per share and has a market cap of $398 million. At this market price, this Canadian stock also offers an attractive dividend yield of around 11.8% and distributes its dividend payouts every quarter.

In the last few quarters, Corus Entertainment has faced big challenges due to high inflation and other economic concerns, which have driven industry-wide advertising spending sharply lower. This explains why its adjusted earnings fell by about 40.9% year over year in its fiscal year 2022 (ended in August), despite its positive revenue growth. Even in this challenging market environment, Corus continues to reward its investors with attractive dividends while strengthening its content pipeline to focus on long-term business growth.

While economic concerns may keep its stock to remain volatile in the near term, its strong content pipeline and continued efforts to expand its premium digital video business make it a great stock to buy on the dip for the long term. In addition, its quarterly dividend payouts could become a great source of passive income for you.

Celestica stock

If you stick to fundamentally strong stocks, you can expect to earn good returns on investments even in difficult economic times. Speaking of fundamentally strong stocks in Canada, Celestica (TSX:CLS) could be a safe stock to consider right now. The shares of this Toronto-based tech solutions provider have risen by 7.2% in 2022 so far, despite the broader market weakness. By comparison, the TSX Composite Index has seen over 6% value erosion this year.

Celestica specializes in making hardware platforms and providing supply chain solutions to businesses from various industries, including aerospace and defense, communication, healthcare, industrial, and energy. In the last couple of years, pandemic-driven supply chain disruptions have badly affected businesses globally. This could be one of the reasons why the demand for its supply chain solutions has grown lately.

This strength in Celestica’s financial growth trends could be understood by the fact that it has been beating Street analysts’ earnings estimates for 13 consecutive quarters. As the company continues to gain higher market share and work on its new project ramps, you could expect its share prices to continue soaring in the coming years and help your investments grow fast.

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.

The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Fool contributor Jitendra Parashar has no position in any of the stocks mentioned.

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