Investors might be looking back and wishing they had bought some stocks way back when. Now, they’re far too pricey, and many think they might have missed out on the action. However, I’d argue there are a few stocks just getting warmed up.
Today, let’s look at three cheap stocks that remain absurdly low — ones that could bring you enormous wealth in the years and decades to come.
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Cameco
One company that has been surging in share price over the last few years is Cameco (TSX: CCO). Cameco stock was already of interest thanks to the ongoing growth of the nuclear power industry. The transition to clean energy solutions will need nuclear power, and that means it will need Cameco stock’s uranium production.
That’s especially true as uranium remains scarce. Sanctions against Russia have meant that Cameco stock needs more and more uranium on hand. At this point, it basically controls the spot price. Therefore, the company can easily continue to climb in share price for the foreseeable future.
So, even with shares up 84% in the last year, I would consider it a cheap stock that investors will want to hold onto for decades.
Celestica
Another company that remains absurdly cheap these days is Celestica (TSX: CLS). Celestica stock has been climbing — even more so than Cameco stock. The stock is up 314% in the last year as of writing, with much of this coming from the climb in semiconductor stocks.
Celestica stock provides electronics manufacturing services. This includes the manufacturing and testing of semiconductors. It’s basically the final phase before sending products with semiconductors out into the world.
These and other products are likely to continue keeping Celestica stock in growth status for the foreseeable future. So, long-term investors wanting in should certainly continue to consider the stock even as the share price rises higher.
CIBC stock
Keeping with the “C” theme, investors may also want to consider Canadian Imperial Bank of Commerce (TSX: CM). After a stock split, and with a price-to-earnings (P/E) ratio at just 9.9 as of writing, it’s cheap in every sense of the word.
Not only that, but CIBC stock has also seen strong momentum in the last few quarters. In fact, it’s been seeing a huge rise in both revenue and net income, providing investors with reason to believe more is coming with earnings right around the corner.
What’s more, CIBC stock is a Big Six bank. It’s large in terms of market cap with a growing and loyal customer base that’s helped it remain stable even during a downturn. And even with large exposure to the Canadian housing industry.
So, yes, shares are near 52-week highs. However, it also provides a 5.56% dividend yield as of writing. And it is also still down by 21% compared to all-time highs reached in 2021. Overall, CIBC stock is yet another of these cheap stocks I would consider even with just $500.
