The Canadian marijuana stocks on our list have 100% upside on average according to analysts
SmallCapPower | March 22, 2018: Cannabis equity hype in the Canadian capital markets has slowed of late, resulting in marijuana stocks falling slightly. However, since then, on average, the sector has remained in-line with the rest of the market. For instance, over the past month, the Horizons Marijuana Life Sciences Index has returned 1.7%, while the TSX-V returned 0.3% over the same period. To take advantage in another potential upswing in the market, we have selected five cannabis companies, which analysts believe are undervalued. The Canadian marijuana stocks on our list today currently have 100% upside on average according to analysts, indicating that these stocks could post strong returns in the near-term.
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ICC Labs Inc. (TSXV:ICC) – $1.40
Cannabis
ICC Labs is a producer of recreational and medical cannabis operating in Uruguay and Colombia. The Company operates ~90,000 sq. ft. of indoor production and 66 acres of outdoor hemp production, at higher CBD to THC ratios than Canadian producers. The Company sells dried cannabis and cannabinoid oil products. ICC plans to dramatically expand production, adding an additional ~400,000kg/year of dried cannabis production and 250 acres of hemp production.
- Market Cap: $202.0 Million
- Average Price Target: $3.26
- Number of Analysts: 3
- Price Upside: 132.9%
Harvest One Cannabis Inc. (TSXV:HVT) – $1.12
Cannabis
Harvest One Cannabis is a producer of medical marijuana licensed under the ACMPR. The Company’s production subsidiary currently produces 1,000 kg/y at its BC facility, and plans add a further 10,000 kg/y at two new facilities in BC and Saskatchewan. Satipharm, its distribution subsidiary, produces cannabis-based microgel capsules, primarily for distribution in Europe.
- Market Cap: $167.2 Million
- Average Price Target: $2.50
- Number of Analysts: 2
- Price Upside: 123.2%
WeedMD Inc. (TSXV:WMD) – $1.93
Cannabis
WeedMD is a Canada-based producer of medical marijuana. The Company expects to produce ~21,000 kg/y at its two facilities by April, with future expansion plans at current sites could potentially increase production to 33,000 kg/y. WeedMD also plans to diversify, beginning the sale of cannabis oils and cannabinoid-infused beverages.
- Market Cap: $194.5 Million
- Average Price Target: $4.27
- Number of Analysts: 3
- Price Upside: 121.4%
Invictus MD Strategies Corp. (TSXV:GENE) – $1.87
Pharmaceuticals
Invictus MD Strategies is a Canada-based licensed producer of marijuana. The Company currently produces 600kg out of its Acreage Pharms facility. The Company has funded production facilities capable of producing 15,000 kg/year, to be operational by the end of 2018. Invictus plans to reach 50,000 kg/year by 2022.
- Market Cap: $149.9 Million
- Average Price Target: $3.05
- Number of Analysts: 2
- Price Upside: 63.1%
Emblem Corp. (TSXV:EMC) – $1.42
Cannabis
Emblem is a licensed producer of medical marijuana under the ACMPR. The Company currently produces 5,000 kg/y of dried cannabis and plans to add a further 17,000 kg/year by Q1 2019. Emblem also plans to launch its cannabinoid oil product in Q3 2018. Emblem aims to build relationships with retail partners in Canada and abroad.
- Market Cap: $153.8 Million
- Average Price Target: $2.30
- Number of Analysts: 5
- Price Upside: 62.0%
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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