3 Under-$10 Canadian Stocks to Buy Right Now

These three unde-$10 Candian stocks offer high-growth prospects and deliver superior returns over the next three years.

| More on:
investment research

Image source: Getty Images

Investing in equity markets does not always require huge capital upfront. Even with a small but regular investment, one can create significant wealth over the long term. So if you are ready to invest, here are three Canadian stocks that you can buy under $10 to earn superior returns over the next three years.

B2Gold

B2Gold (TSX:BTO)(NYSEMKT:BTG) is a gold mining company with its mines located in Mali, Namibia, and the Philippines. The company had reported a solid first-quarter performance last week, with its adjusted EPS of $0.09, beating analysts’ expectations of $0.07. Meanwhile, its revenue of $362.3 million fell marginally short of analysts’ expectations.

Year over year, B2Gold’s revenue fell 4.7%. The decline in gold ounces sold during the quarter dragged the company’s top-line down. However, higher average realized gold prices offset some of the declines. Amid the planned waste stripping and lower mined ore grades, the company’s production declined during the quarter.

However, the company’s management expects its production to improve in the second half of this year, as the mining reaches the higher-grade zones. For this year, the company’s management expects its gold production to come in the range of 970,000 – 1,030,000 ounces. Over the last 30 days, gold prices have increased by 5.8%. Meanwhile, the uptrend could continue given the volatility in the broader equity markets, thereby benefiting gold-mining companies.

Aurora Cannabis

Amid the weakness in the cannabis sector, Aurora Cannabis (TSX:ACB)(NYSE:ACB) has lost close to 60% of its stock value from its February highs. The steep correction offers an excellent buying opportunity, given the expanding cannabis market amid increased legalization and the company’s growth initiatives.

Aurora Cannabis has captured a significant market share in the Canadian and international medical cannabis markets. Currently, it earns revenue from over 13 countries. The company focuses on increasing its market share and also expand its footprint into newer markets. Management also hopes that some of these medical channels would migrate to consumer channels in the coming years.

Its CBD brand, Reliva, has received a positive response from U.S. customers. The company is working on expanding the availability of the product across the United States. With its cash and cash equivalents standing at $565 million, Aurora Cannabis is well positioned to fund its growth initiatives.

WELL Health Technologies

Yesterday, WELL Health Technologies (TSX:WELL) had reported an impressive first-quarter performance, with its top-line increasing by 150% to $25.6 million. Its acquisitions over the last four quarters and organic growth in its various business units drove its revenue. It also posted positive adjusted EBITDA for the second quarter in a row, with its Canadian operations posting strong performance during the quarter.

Meanwhile, WELL Health acquired ExecHealth, IntraHealth and CRH Medical in the second quarter. With these acquisitions, the company’s annualized revenue run-rate is approaching $300 million per year. It also strengthened its billing and back-office segment by acquiring a 51% stake in Doctors Services Group. Further, the company has launched Health Records on iPhone, which would allow iPhone users to retrieve health records from participating clinics. So, the company’s growth prospects look healthy.

Meanwhile, amid the recent sell-off in tech stocks, WELL Health is trading at a 26.5% discount from its February highs. I believe investors should utilize the correction to accumulate the stock to earn superior returns.

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 Rajiv Nanjapla has no position in any of the stocks mentioned.

More on Tech Stocks

chart reflected in eyeglass lenses
Tech Stocks

Top Canadian AI Stocks to Watch in 2025

Celestica (TSX:CLS) stock and another Canadian AI stock are worth watching closely this holiday season.

Read more »

Nvidia Voyager Headquarters
Tech Stocks

Why Nvidia Stock Rallied (Again) on Tuesday

The chipmaker is expected to report earnings this evening.

Read more »

hand stacking money coins
Tech Stocks

3 Growth Stocks That Are Screaming Buys in November

The market might be soaring, but there are still lots of deals to be had. Here are three discounted stocks…

Read more »

Rocket lift off through the clouds
Tech Stocks

Why I’d Buy Constellation Software Stock, Even at Today’s Prices

Despite trading at a relatively frothy multiple, Constellation Software (TSX:CSU) stock still looks like a buy right now.

Read more »

profit rises over time
Tech Stocks

2 Reasons to Buy Kinaxis Stock Like There’s No Tomorrow

Solid revenue growth, improving profitability, and its focus on AI-powered supply chain solutions make Kinaxis stock really attractive to buy…

Read more »

Muscles Drawn On Black board
Tech Stocks

3 No-Brainer Tech Stocks to Buy Right Now for Less Than $500

If you have a bit of cash you're looking to set aside, these are the easiest tech stocks for some…

Read more »

how to save money
Tech Stocks

3 Reasons to Buy Shopify Stock Like There’s No Tomorrow

Here's why Shopify (TSX:SHOP) stock certainly looks like a buy for long-term growth investors looking for a top TSX stock.

Read more »

A child pretends to blast off into space.
Tech Stocks

2 Compelling Reasons to Snap Up Constellation Software Stock Now

Here's why I think Constellation Software (TSX:CSU) is a top-tier growth stock to own for the long-term right now.

Read more »