10 BEST CANADIAN / TSX STOCKS TO BUY IN MARCH 2022 | GROWTH AND INCOME

10 BEST CANADIAN / TSX STOCKS TO BUY IN MARCH 2022 | GROWTH AND INCOME

What’s up guys, it’s wiz. 

Welcome back to the channel. If you are new, I am a Canadian investor. I cover a whole lot of information about investing in Canada and do research into our Canadian market. I dive into growth investing, dividend investing and Canadian small caps / penny stocks. Today, we will be talking about some of the top Canadian companies for March. Always do your own due diligence before buying into any of these companies. For new investors, you need to join Wealthsimple Trade if you are looking to start investing and live in Canada. If you use my link in the description to join Wealthsimple, you get 2 free stocks worth up to 4500$ so do not miss out.

The first stock is Agnico Eagle (ticker symbol AEM). This Canada-based gold miner is now one of the top gold miners in the world. That’s thanks to this company’s recent acquisition of fellow gold miner Kirkland Lake Gold. This integration brings Kirkland Lake’s mix of high-grade and high-volume mines to Agnico’s portfolio. The combination was done at a reasonable price and suggests impressive upside for the combined organization. Those bullish on where gold prices are headed may look to gold miners for exposure to this commodity price. The leverage Agnico Eagle provides, along with its top-notch management team, make for an excellent buy as we head into what could be a huge March month for them. Especially for gold which has been doing good recently because of inflation. Great Canadian company to check out.

Next stock is Manulife (ticker symbol MFC). A rising interest rate environment should continue to be favourable for the life and health insurance company. Additionally, Manulife remains a value stock that offers a good dividend yield of 5%. The dividend stock trades at only 8.1 times trailing-12-month earnings, while analysts are projecting an earnings-per-share growth rate of 9% over the next few years. Furthermore, the Canadian Dividend Aristocrat has the ability to maintain dividend increases based on a sustainable payout ratio and growing earnings.

Next stock is Magna International (ticker symbol MG). It is the third-largest auto component supplier. The company increased its exposure to electric vehicle (EV) production, but the chip supply shortage pulled the stock down. The supply issue is expected to ease this year, and there is upped demand for EVs. EV stocks could bounce back later this year, and Magna would be at the forefront. Magna had a glimpse of EV momentum when Joe Biden took the U.S. presidency. The stock doubled between September 2020 and April 2021 to $126. It is currently trading below $100, creating an opportunity to buy a Canadian growth stock at a discount for the long term.

Next stock is Canadian Imperial Bank of Commerce (ticker symbol CM). The stock market continues to drop, and investors wonder if now is the time to get out or dive in. Honestly, the best option is the most obvious. The Canadian Big Six banks rebounded within a year of the last several economic crashes. With more uncertainty in the future, this is where Canadians should store their cash. But one of the best choices? Canadian Imperial Bank of Commerce. CIBC stock has one of the highest yields at 4% and is a stellar growth opportunity, yet it still trades at a valuable 11 times earnings. So, this is a top choice for Canadians to consider to get them through these times.

Next stock is AltaGas (ticker symbol ALA). AltaGas is a diversified Canadian energy infrastructure company. It operates in two segments: the Utilities segment and the Midstream segment. Today, fundamentals for AltaGas continue to strengthen. The growth for AltaGas comes from its midstream segment. With natural gas prices soaring, so are the prices of propane and other natural gas by-products. AltaGas is quickly ramping up its export facility in order to meet booming demand from abroad, mostly Asia. Canadian natural gas, and AltaGas, are in the perfect position to be a supplier of choice. The stock is simply undervalued based on this outlook, so check it out if you are interested.

Next stock is Gildan Activewear (ticker symbol GIL). Gildan has increased its dividend by nearly 10% after reporting a fourth-quarter profit of $173.9 million, which is up from $67.4 million a year earlier. Net sales for the quarter ended January 2nd hit a record of $784.3 million, which is up 14% from $690.2 million in Q4 2020. Quarterly revenue growth was propelled by a 17% increase in sportswear sales and higher net selling prices, while undergarments revenue increased 3%. Gildan plans to continue expanding its capacity in Central America and the Caribbean and resume expansion in Bangladesh, where it is building the first of two major textile and sewing facilities.

Next stock is TFI International (ticker symbol TFII). The market uncertainties are rising due to several factors, including high inflation, concerns about a tighter monetary policy, and escalating geopolitical tensions. Given these uncertainties, it might be the right time to stick with safe stocks with well-proven track records of delivering good returns. TFI International is a Saint-Laurent-based transportation and logistics company that has seen strong business growth in the last year. In the full year 2021, its revenue rose by about 91% and helped the company post a strong 58.5% year-over-year jump in its adjusted earnings to $5.23 per share. TFI’s financial growth trend is likely to remain strong in 2022, as the demand for quality logistic services continues to rise across industries. This is one of the reasons why I expect TFII stock to rebound sharply in the near term.

Next stock is Canadian National Railway (ticker symbol CNR). When volatility increases, investors seek out defensive options. Given recent events, the need for a defensive stock weighed heavily on me for this month. Canadian National operates the largest railroad in Canada and one of the largest on the continent. Canadian National’s track network extends over 32,000 kilometres, connecting ports and warehouses on both sides of the border. That network is also the only one on the continent with access to three separate coastlines. That incredible network allows Canadian National to haul upwards of US$250 billion worth of freight each year. Furthermore, that freight covers everything from automotive parts and raw materials to crude oil and wheat. It is no wonder why that rail network is important to the entire North American economy. In other words, Canadian National draws a massive defensive moat and generates a stable revenue stream. Throw in a nice quarterly dividend, and you have a great Canadian defensive pick for any portfolio.

Next stock is Toronto-Dominion Bank (ticker symbol TD). The bank reports earnings on March 3 and is likely to put out fairly strong numbers. This year, we are seeing interest rates rise in both the U.S. and Canada. The central banks have tightened up the whole deal, raising interest rates. Mortgage rates and other interest rates have already been rising in anticipation of the central bank moves. This is bullish for banks. The higher the interest banks charge on their loans, the more money they make. TD operates in both the U.S. and Canada, so it can benefit from the tighter monetary policy in both countries. Overall, it’s a great company positioned perfectly for today’s market environment.

Next and final stock is Peyto Exploration and Development (ticker symbol PEY). In the current market environment, with energy stocks having such a strong tailwind, this is a good stock. Natural gas has a tonne of growth potential, as we phase out dirtier fossil fuels, and Peyto is one of the lowest-cost producers in Canada, making it perfectly positioned to capitalize on this opportunity. The company has significant growth potential when prices rally and even pays an attractive dividend, which currently yields upwards of 5.6%. Therefore, given the short-term tailwinds and the long-term growth potential, Peyto is a great Canadian stock to look into. 

Hope you guys enjoyed these Canadian stocks I went over and talked about. Please watch my previous videos on Canadian stock recommendations and let me know of any Canadian stocks you want me to look into and give my opinion on. Let me know in the comments, since I really want to expand my knowledge in the Canadian market. If you did enjoy this video, leaving a like really helps grow the channel! Thanks for watching, I’ll see you guys in the next video!


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