2 Soaring Stocks I’d Buy Now With No Hesitation

Sure, these soaring stocks have already climbed by immense amounts. But I would all but guarantee these companies have more growth ahead.

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Canadian stocks have been making a comeback, with the TSX today actually climbing past (and remaining around) all-time highs! In this market rebound, a few soaring stocks continue to climb higher. But don’t let that scare you off.

Instead, now is a great time to consider these stocks even as they climb higher. So let’s get into these two soaring stocks, and why investors should still consider them a stellar buy.

Celestica

Now it’s already very likely that you’ve noticed the rise in semiconductor companies this last year. Well, that’s something that simply isn’t going anywhere. Semiconductors are like the brains of modern electronics. They’re essential parts of a wide range of devices and industries, from healthcare to clean energy.

So finding companies that are part of this electronics manufacturing services (EMS) sector is a stellar way for long-term investors to get in on the action. In this case, Celestica (TSX:CLS) is a strong choice. The company designs and manufacturers electronic components for companies. It then manages the supply chain for parts and assembles the final product. From there, it even does testing, offers logistics, fulfillment, and even after-market repairs. And it doesn’t only do this in one or two industries, but also some of the most essential ones.

Celestica has proven its worth over the last few quarters. During the second quarter, the company produced $1.94 billion in revenue, with adjusted earnings per share (EPS) of $0.55. The third quarter saw even more growth to $2.04 billion, with adjusted EPS hitting $0.65. By the fourth quarter, it was even higher at $2.14 billion, with adjusted EPS of $0.76!

With that strong momentum, it’s clear that Celestica stock doesn’t look like it’s slowing down. Despite already rising a whopping 293% in the last year alone. Even so, with such strength and growth behind and ahead, it’s one of the soaring stocks I’d still buy up now.

Lundin mining

Another area still worth your time even as prices rise higher is the copper sector. Copper stocks have run higher as there continues to be a bit of a supply shortage. And that’s a big deal, as copper is used in just about every single thing.

Copper is a versatile metal, as it’s valued for its electrical conductivity, thermal conductivity, and ability to mold in just about any way. It’s therefore used in everything from electrical wiring and plumbing to building materials and even antimicrobial products.

So when there’s a shortage, companies producing a lot of copper soar. And one of those has been Lundin Mining (TSX:LUN). Over 60% of the company’s production is dedicated to copper, and that’s been growing all the time. Quarter after quarter the company has demonstrated momentum, with even more mines coming online.

During the second quarter, Lundin stock reported revenue of $588.5 million, with adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $162.2 million. By the third quarter, it achieved a record quarterly production of copper at 89,942 tonnes, revenue of $992.2 million, and adjusted EBITDA of $415.1 million. Over double the quarter before.

The fourth quarter hit another quarterly record at 103,337 tonnes of copper, revenue of $1.06 billion, and adjusted EBITDA of $419.7 million. The full-year also saw record production of 314,798 tonnes of copper, with even more predicted for 2024. So while shares are up 65%, I would say there’s more growth on the way for soaring stocks like this one.

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

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