The S&P/TSX Composite Index continues to surge past all-time highs. Earnings report after earnings report celebrates some good news for once. Furthermore, with vaccination rates climbing and restrictions easing, companies can see some normalcy. Right before the holidays.
With that resurgence in mind, here are three strong stocks on the TSX today up 22% or more (a lot more) in the last month alone.
Suncor stock: 22%
Suncor Energy (TSX:SU)(NYSE:SU) surged last month on positive earnings. The Suncor stock reported an incredible increase in profitability for the quarter, with a 13% increase in oil production year over year supported by a huge rebound in oil prices (as I’m sure you’ve noticed at the pump).
Furthermore, its refinery throughput increased 15% year over year, with a 99% utilization rate compared to last year’s 87%. Its net income came in at $0.59 per share, in line with analyst estimates. All of this points to a further increase and supported the doubling of its dividend, which was cut by half in February.
So now, Suncor stock investors get a 5.10% dividend yield, all at a discount P/E ratio of 20.76. And with shares up 22% this month and 43% year to date, there could be even more good news to come for long-term Motley Fool investors.
Aritzia stock: 25%
Another company demonstrating strength in its earnings report was Aritzia (TSX:ATZ). It came from a surprising location, with Aritzia stock seeing a huge increase in United States sales. Sure, pandemic restrictions easing helped, but the company has been in there for years.
Management not only saw an increase in sales year over year but also upped its annual guidance for Motley Fool investors. It reported net revenue increased 74.9% year over year, with e-commerce up 48.7% year over year. Furthermore, it expects between $350 and $375 million in net revenue.
Aritzia stock isn’t cheap on the TSX today. However, the excitement wore off a bit, so now could be a good time to buy. With the holiday rush coming, it’s likely the next earnings report will be just as strong. That could send shares higher than the 25% last month, and the 96% year to date!
Hut 8 stock: 58%
Finally, Hut 8 Mining (TSX:HUT)(NASDAQ:HUT) has a few reasons to see its shares increase last month. First, there was the approval of cryptocurrency exchange-traded funds (ETFs) in the United States by the Securities and Exchange Commission, sending all types of cryptocurrency stocks flying high.
But in the case of Hut stock, it means even more mining opportunities. And there has been a lot already, after some strong earnings reports on the TSX today. It now has another earnings report coming out on Nov. 11. So if you’re looking for a boost, Hut stock could give it to you.
That’s on top of the 58% already seen this month, and the 135% year to date! Yes, it’s expensive with a P/E ratio of 53.47 as of writing. However, if you’re a long-term Motley Fool investor looking for exposure to cryptocurrency, Hut stock could be the one for you.
