3 Top Stocks Under $30 to Buy in November 2023

These TSX stocks still trade below the $30 range, offering a chance for superior growth in the coming year and far beyond.

Amy Legate-Wolfe

Author Bio Amy became interested in investing in 2018 after having her first daughter. After receiving a masters degree in journalism from Western University, she became frustrated that the finance industry remained a confusing place for Canadians like her: new parents, millennials, and other young people who needed to understand their finances. Now, Amy focuses on tech companies and renewable energy for growth opportunities, coupling that with long-term investing strategies and equities. She also provides investors with a daily newsletter, Canada Stock Digest, for daily market updates. Her work can also be found at Canada's National Observer, where she writes on the business side of climate action. Before joining Motley Fool Canada, Amy wrote for major news organizations including HuffPost, CTVNews.ca, and CBC. When she’s not researching investing strategies, Amy’s time is pretty much monopolized by her two wild daughters, but in what little spare time she has she loves to do yoga, go on walks with her dog, and travel with her husband. Social Media Follow Amy on LinkedIn and Canada Stock Digest. Favorite Investment Quote “October: This is one of the particularly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August and February.” – Mark Twain

Published November 8, 2023 9:15 pm EST

If you’re looking at the TSX today, you’re likely still pretty stressed out about where you can buy stocks worth your time and money. I get it. The TSX in November 2023 isn’t exactly doing the best. However, it will eventually recover. And that’s why it’s a great time to start planning now.

Today, we’re going to look at three TSX stocks under $30 that are worth your time. These stocks stand to continue gaining, especially after the market recovers.

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Manulife Financial

First up, we have Manulife Financial (TSX: MFC), a well-diversified insurance financial asset manager with locations around the world. Of course, it doesn’t necessarily do well, however, when the market is down. Yet, the company has plenty of cash on hand to deal with losses. Furthermore, it continues to beat earnings estimates, showing signs of recovery.

As well, analysts peg it as a solid buy on the TSX today. It remains a low-risk option for those who want access to a global portfolio of investments, and a growing one at that. Asset management is a lucrative business, and MFC stock continues to find new opportunities to thrive.

Shares trade at just $25 as of writing and at just 3.76 times earnings. It offers a 5.75% dividend yield as well, which comes to $1.46 per share annually. Finally, it’s well managed, with just 48.76% equity needed to cover all its debts.

Brookfield Renewable

Speaking of diversified TSX stocks, Brookfield Renewable Partners (TSX: BEP.UN) is another strong investment option for those seeking exposure to the growing renewable energy sector. BEP stock is a strong choice as the company is managed by a powerhouse asset manager. However, it’s come into its own with a diversified set of renewable energy assets.

Yet again, the company hasn’t done well, with higher interest rates and inflation hurting the company’s operating costs. However, this means it can start charging more, and so the company’s finances will eventually keep up. Meanwhile, it’s creating long-term contracts that will power the future — quite literally.

BEP stock trades at just $30 as of writing, with a 5.88% dividend yield. That comes to $1.86 per share annually. And even with less revenue coming in, it would take just 88% of its equity to cover all its debts as of writing.

Lightspeed Commerce

Finally, investors looking for perhaps some surging growth in the future but have time to wait should consider Lightspeed Commerce (TSX: LSPD). Lightspeed stock has had a turbulent past but is finally seeing a turnaround potentially. This comes after the company’s acquisitions are up and running, bringing in record revenue and back to a profit.

Yet shares are far behind where they were two years ago. The tech stock may have had a hugely successful earnings report, with shares surging afterwards. However, it’s still nowhere near the all-time highs of $160.

What’s more, more growth is likely on the way, with Black Friday and Cyber Monday around the corner. So, with shares at just $15, it could be a great idea to pick up shares if you’re looking for future growth from your TSX stocks.