3 Stocks I’m Buying Till I’m Blue in the Face

I will never give up on these dividend TSX stocks, given their histories of growth and incredibly stable future, so I’ll be buying them over and over.

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The stock market is full of deals for great stocks at incredible prices. It’s like a fire sale but quite literally a FIRE sale in this case. If you’re looking for Financial Independence to Retire Early (FIRE) stocks, there are certain stocks out there that you just can’t go wrong with.

That’s why, even these three TSX stocks drop, I’ll buy more. If I get a windfall, I’ll buy more. If I simply just have some cash or passive income coming in, I’ll buy more. So, let’s go over why these three are the biggest winners among TSX stocks, in my book.

Nutrien

Nutrien (TSX:NTR) is an excellent choice for those seeking passive income but also major returns for decades. This comes from Nutrien stock’s sector as a crop nutrient provider. What’s more, its acquisitions have turned it into a powerhouse of growth. But importantly, much of that growth also comes from organic growth, especially as the company expands e-commerce operations.

Russian sanctions are part of the recent explosion in past months. But Nutrien stock is a long-term opportunity for those willing to buy now. You can bring in a 2.56% dividend yield as of writing while it trades at just 5.29 times earnings!

The world will continue to need crop nutrients, as there is less arable land. That makes Nutrien stock an ideal choice among TSX stocks to buy now — especially when you consider passive income and a potential rebound to 52-week highs.

goeasy stock

goeasy (TSX:GSY) is another top choice among TSX stocks right now. And, again, it’s dropped for the wrong reasons, in my opinion — and in analysts’ opinions, as a matter of fact. goeasy stock is an excellent choice, as it continues to produce record-beating earnings results. And yet shares are a fraction of where they were at 52-week highs.

This mainly comes from where goeasy stock focuses its business. The company is a loan provider, which doesn’t historically bode well during a recession. Furthermore, it’s a tech stock — again, a sector that hasn’t done well in recent months.

But that’s not the case for goeasy stock, which saw record loan originations during its recent quarter. You can also bring in a dividend yield of 3.19% as of writing, while it trades at just 11.48 times earnings. So, I’ll buy it over and over again.

CIBC

My old faithful continues to be Canadian Imperial Bank of Commerce (TSX:CM). It’s a secure choice I never regret. CIBC stock has shown over the decades that it can grow at a steady rate. That includes growing steadily out of an economic downturn, usually within a year’s time.

This comes from the bank having provisions for loan losses, as with the other Big Six banks. However, CIBC stock is my favourite, because it offers the highest dividend yield at 6.11% as of writing. Furthermore, it’s incredibly cheap trading at 8.83 times earnings. Finally, with the recent stock split, I can even drip feed into it at low prices.

With CIBC stock up 119% in the last decade alone, I’m certainly going to consider buying it to lock in more and more passive income. I’ll then sit back and relax, knowing that even if shares drop, they’ll be back in the near future and continue climbing for decades.

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 Amy Legate-Wolfe has positions in Canadian Imperial Bank Of Commerce and Goeasy. The Motley Fool recommends Nutrien. The Motley Fool has a disclosure policy.

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