3 No-Brainer Stocks to Buy Under $30

These three stocks all offer a huge deal for investors looking for dividends, as well as growth that will last.

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Let’s say you’re an investor who is looking for stocks on the cheap. Now these can’t be just any stocks, but ones that aren’t going to cost you a lot to invest in. Ideally, they’ll also create passive income through returns and dividends. All while promising a strong future investment as well.

Sounds like a dream, doesn’t it? Well, luckily I have three stocks investors can buy under $30 that provide a solid long-term investment solution.

Lundin

First up, we have Lundin Mining (TSX:LUN). The reason I like Lundin stock is because of its investment into the copper sector. About 63% of its production comes from copper as of writing. That’s only bound to increase, and management has confirmed this as well.

After achieving record results during its most recent quarter, the company believes it can blow those records out of the water in the next year. This sent shares up even higher after a strong quarter. And hopefully this happens, given that copper is an essential part of numerous growing sectors.

Whether it’s copper wiring, copper in circuit boards, or copper for renewable energy assets, the world needs copper. Shares of Lundin stock look like a steal, trading at $13.40 as of writing with a 2.74% dividend yield. The stock is also rising, with shares up 50% in the last year alone.

Northland Power

Speaking of renewable energy, this is another area where there continues to be so much expansion. And yet with higher interest rates and inflation, pressure has been placed on renewable energy stocks like Northland Power (TSX:NPI).

However, Northland power continues to perform well, showing that it can keep debts well managed while still expanding its assets. It now has a diverse set of renewable power operations, ranging from wind to solar. And that’s likely to only expand, especially after interest rates and inflation come back down.

Yet right now you can pick up the stock for $22.50, with shares still down 35% in the last year, but up 16% since 52-week lows as of writing. And the cherry on top is a monthly dividend at a yield of 5.51%.

Transcontinental

Finally, Transcontinental (TSX:TCL.A) is a stock I would pick up while you can. The company handles packaging and printing. TCL stock has grown to become one of Canada’s largest printers for packaging. And that’s only grown more so in the last few years.

With products continuing to be in high demand for quick delivery, TCL has been in high demand as well. The company now operates with packaging, printing, and even media such as flyers, newspapers and magazines. It’s also undergone a strategic transformation, diversifying and expanding into new markets. This includes digital and interactive media as consumer preferences have changed.

So while many consumers have cut back, that won’t last forever. Which is why I would pick up TCL stock while it still trades at just $14.75 as of writing. Especially as it offers  a 6.09% dividend yield, with shares up 11% in the last year alone.

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 no position in any of the stocks mentioned. The Motley Fool recommends Transcontinental. The Motley Fool has a disclosure policy.

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