The Canadian stocks on our list are currently most favoured by analysts
SmallCapPower | September 8, 2020: Analyst opinions will usually move stock prices. That being said, today we have identified the Top 3 Canadian stocks most favoured by analysts currently. These companies are covered by at least three analysts and all have upward revisions in earnings growth this year and next.
*Returns are based on closing stock prices as of September 4, 2020
Shopify Inc. (TSX:SHOP) – $1270
Shopify provides everything merchants need to set up and maintain digital retail operations, but allows them to sell in multiple channels, including web, mobile, social media, online marketplaces, brick-and-mortar locations, and pop-up shops. SHOP also handles all the details, including product management, inventory, payments, and shipping, while also providing value-added services such as working capital loans. During the second quarter 2020, Shopify saw its revenue surge 97% year over year, while subscription revenue rose 28%. The Company generated revenue of $1.58 billion in 2019, with its international merchants increasing to 29% of its total merchants from 24% in 2018.
- Year-to-Date Return: 146%
Pan American Silver Corp. (TSX:PAAS) – $45.01
Pan American Silver owns and operates silver and gold mines located in Mexico, Peru, Canada, Argentina and Bolivia, in addition to the Escobal mine in Guatemala that is currently not operating. PAAS is the world’s second largest primary silver producer with the largest silver reserve base globally. The Company reported better-than-expected Q2 financial results recently, yet COVID-19 has forced the precious metals miner to reduce its full year 2020 silver production guidance by about 40% along with 15% lower expected gold production.
- Year-to-Date Return: 45%
Trisura Group Ltd. (TSX:TSU) – $90.16
Trisura Group is an international specialty insurance provider operating in the surety, risk solutions, corporate insurance, fronting and reinsurance segments of the market. Trisura has three principal regulated subsidiaries: Trisura Guarantee Insurance Company in Canada, Trisura Specialty Insurance Company in the U.S. and Trisura International Insurance Ltd. in Barbados. The Company recently reported better-than-expected Q2 financial results, with Raymond James analyst Stephen Boland calling it “a solid quarter with strong underwriting results from the Canada operation and high growth in gross premiums written driven by the U.S. operations.”
- Year-to-Date Return: 125%
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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