3 No-Brainer Stocks to Buy Under $13

These three stocks are cheap and easy buys if you want some quick wins in the next while. Just make sure it fits with your own risk tolerance.

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 May 29, 2024 4:50 pm EDT

If you’re looking to simply get into the market with a small stake and make some money, then now is a great time. There are some easy, no-brainer buys in this current market. However, it’s important to note that market sentiment can change. So, while these look like strong buys now, that could change in the future.

Even so, if you just want a small stake to watch for the next few months to a year, then these are the easy choices.

Kinross Gold

First up, we have Kinross Gold (TSX: K), a gold producer benefiting from the rising price of gold. Shares currently go for $11 per share as of writing and offer a 1.51% dividend yield.

The company is a strong buy for multiple reasons. The price of gold has been on the rise in 2024, which benefits gold mining companies like Kinross. Kinross’s stock price has risen significantly this month and over the past year. Some analysts believe Kinross is trading below its fair value, suggesting there’s room for growth.

Furthermore, Kinross reported a strong first quarter in 2024 with good profit margins and healthy cash flow generation. It continues to advance its Great Bear gold project in Ontario, Canada. This project has the potential to be a major mine, and Kinross completed significant drilling in 2022 and 2023. Overall, it’s a strong buy to consider for a cheap share price.

NorthWest Healthcare REIT

Another strong option if you want dividend income is NorthWest Healthcare Properties REIT (TSX:NWH.UN). The company has seen its share price rising steadily in the last few months, offering a 7.1% dividend yield as well.

The real estate investment trust (REIT) focuses on healthcare real estate, a sector generally considered defensive during economic downturns. People continue to need healthcare, regardless of economic conditions. Because of this, Northwest Health has a strong track record with long-term lease agreements, providing stable and predictable income. The average lease expiry is over 14 years, which minimizes tenant turnover risk.

What’s more, the aging global population is expected to continue to drive demand for healthcare facilities, which could benefit the REIT in the long run. With that high dividend yield, it looks like a strong investment at just $5.10 per share as of writing.

Hut 8 Stock

Another company doing well right now that investors may want to own a small stake in is Hut 8 (TSX: HUT). The cryptocurrency mining company has been roaring back in share price — especially after strong earnings and solid future outlook.

In particular, Hut 8’s fortunes are tied to the price of Bitcoin. If Bitcoin continues its recent rise, Hut 8 would benefit significantly. Yet, Hut 8 is not just a pure-play Bitcoin miner. They are expanding into data centres, which are in high demand due to the growth of cloud computing and artificial intelligence. This diversification could provide a more stable income stream.

What’s more, Hut 8 recently brought its new Salt Creek site online. This facility boasts lower energy costs, allowing them to mine Bitcoin more efficiently and profitably. Overall, it’s certainly a strong way to get in on cryptocurrency without paying the hefty price tag.