Business & Investment

Two Canadian stocks you don’t want to miss while they are trading cheap

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It goes without saying that Canada’s stocks are cheap in this market when stocks have risen consistently for over a year and continue to hit record highs.So you NS Finding stocks that offer the opportunity, it is important to buy them while they are still offering value.

I don’t know what opportunities will come in the future.So when in stock Underestimation, And you believe it is of high quality and fits into your portfolio, so investors should be looking to trigger immediately.

Especially in this market environment, there are many catalysts that have the potential to restore these strains. Therefore, we do not want to miss these important opportunities.

With that in mind, if you’re looking for a Canadian stock that you can buy cheaply, here are two best opportunities to consider today.

Canada’s top utility stocks that don’t trade long and cheaply

Utilities are a good investment and you rarely have the opportunity to buy at a discounted price.That’s why Algonquin power and utilities (TSX: AQN)(NYSE: AQN) It is stealing as it trades at a 52-week low and a super-low price of less than $ 18 per share.

Algonquin is in the midst of a major growth plan, with up to $ 20 billion in equity investment over the next five years. So, a few weeks ago, when we acquired Kentucky Power and Kentucky Transmission, it was part of the plan. In addition, issuing shares to pay for these acquisitions is part of the plan.

Therefore, when the shares were issued on October 26th last week for $ 18.15, it pushed down the market price of Algonquin. For long-term investors, it’s just a moment of market prices, but stocks actually improve their long-term outlook by making attractive acquisitions.

In addition, investors will have the opportunity to buy more at this price or new investors will take their first position. Currently, dividend aristocrats offer yields of over 4.8%.

So if you’re looking for cheap Canadian stocks to buy right now, Algonquin is a great choice, but it won’t be that cheap for that long.

Top bank stop to buy while it’s still cheap

Bank stocks have recovered from the pandemic, but ultra-low interest rates focus on their profitability and growth potential. Therefore, these stocks already offer the possibility of rising in the short term once interest rates start to rise.Therefore, stocks like Nova Scotiabank (TSX: BNS)(NYSE: BNS)Has recently fallen below the performance of other companies in the same industry, but has great potential.

Many Canadian banks have seen significant recovery in operations and stock prices. BNS is no exception. But that’s not the case, especially in the Caribbean, where tourism and, by extension, the economy continue to have a significant impact, as equities have a significant amount of international business.

As a result, equities are currently lagging behind their peers while investors await more promising recovery potential from international operations. But it shouldn’t be too far, as the world continues to move out of the pandemic. So now it looks like a great opportunity to take advantage of discounts on Canada’s top bank stocks while still cheap.

Currently, the Bank of Nova Scotia is trading at 10.5 times that amount. Forward earnings Pay a dividend of 4.3% or more. This makes it the cheapest of all major Canadian bank stocks, in addition to offering the highest yields of its peers.

So if you’re looking to buy the best Canadian stocks that are trading cheaply, the Bank of Nova Scotia is arguably one of the top stocks to consider today.

Two Canadian stocks you don’t want to miss while they are trading cheap

https://www.fool.ca/2021/11/03/2-canadian-stocks-you-dont-want-to-miss-while-theyre-trading-cheap/ Two Canadian stocks you don’t want to miss while they are trading cheap

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