Earnings season continues for investors, and there are some TSX stocks that should absolutely explode this month. So, which are the ones that investors should add to their watchlist on the TSX today? Let’s get into two I would add right away.
Cameco stock
Cameco (TSX: CCO) shares may have hit all-time highs in the very recent past. But I would say even more is likely to come as the company prepares for earnings this week. Shares of Cameco stock are currently up about 70% in the last year, as of writing.
Part of the very little drawdown came from news during the company’s Investor Day. Of course, the main focus was Cameco stock will likely continue to see a strong future in the uranium sector. That would make sense, given it is the world’s largest publicly traded uranium company.
Uranium power continues to be the method of choice for governments around the world to get into clean energy production. It’s already powering 20% of the United States, with more on the way. Customers continue to buy uranium in excess of the replacement rate. Furthermore, it’s making even more partnerships with companies around the world to provide production.
The only long-term issue is whether the spot price of uranium continues to trade at skyrocketing prices. However, in the meantime, Cameco stock continues to provide guidance that remains in line with expectations. So, should the stock come out with anything positive and beyond expected, it should see investors buy in bulk.
Fairfax Financial
Another strong option for investors to consider is a bit more on the pricey side per share, but still an excellent option. That would be Fairfax Financial Holdings (TSX: FFH), which has seen shares climb 57% in the last year, as of writing.
Again, there are a few reasons to consider Fairfax stock, including its earnings release in the next two weeks. While the company’s primary business focuses on insurance, in more recent years, it’s been turning into investment funds. And those investments have been paying off.
However, this can be seen as risky. So, making sure to balance this with underwriting would likely keep investors holding on for the long term. In the short term, however, it’s proven to be able to identify strong investments to keep company growth coming in.
As that growth comes in, it’s likely the stock will use it to support a better underwriting policy. So, once this happens, Fairfax stock should see even more growth for long-term holders. For today’s investors, watch out for company earnings that should continue to be strong. And those will likely send shares up even higher than they already are.
Bottom line
While these stocks might be trading at or near all-time highs, don’t let that scare you. This is just a plateau that’s likely to be passed again and again over the next few years. But in the short term, investors are likely to see share prices bounce even higher, as earnings come in during this week and the next.
