This year has been a roller-coaster ride for investors, with the S&P/TSX Composite Index falling over 35% in March and recovering strongly to recoup most of its losses. The encouraging announcements on vaccine development supported the rally last month. Meanwhile, the rising COVID-19 cases and a slowdown in the economic recovery are a cause of concerns. Amid this uncertain outlook, here are three top TSX stocks to buy right now for superior gains.
Amid the hope of life returning to pre-pandemic ways, West Texas Intermediate (or WTI) crude oil rose above $45 per barrel. The increase in oil prices brought some relief to the energy sector, including Suncor Energy (TSX:SU)(NYSE:SU). The company’s stock rose 38.2% last month. However, it is still trading over 51% lower for this year.
Yesterday, Suncor Energy provided its management’s guidance on the production levels and capital expenditure for 2021. The management expects its overall average production to come in the range of 740,000 to 780,000 barrels per day, representing a 10% growth from the mid-point of last year’s guidance. Further, the company has taken several costing initiatives in the last few years. The management hopes these initiatives to reduce its operating and capital expenses significantly in 2021.
The management expects its downstream utilization rate to improve by 6% to 93%. With the oil demand expected to rise next year, I am bullish on Suncor Energy.
Technology companies have witnessed a strong run this year amid the increased demands for their products and services due to digitization. However, BlackBerry (TSX:BB)(NYSE:BB) was under pressure due to its exposure to the automotive industry, which had witnessed a significant disruption amid the pandemic-infused shutdown. However, last month, the company’s stock rose close to 28% amid the vaccine hope.
In May, the company had launched its Spark Suite platform, which offers cybersecurity and endpoint management options to enterprises. The platform has helped the company acquire many blue-chip clients. It had also launched its Guard platform in the Managed Detect and Respond Services (MDR) segment in July, which could reach $2 billion by 2024 as per Frost & Sullivan’s projections.
Further, the company’s BTS (BlackBerry Technology Solutions) segment, which offers a broad portfolio of functional safety-certified and secure software for vehicles, showed improvement in the August ending quarter amid the resumption of production. Meanwhile, the management expects its BTS business to return to pre-pandemic levels early next year. Despite its healthy growth prospects, the company is trading at over 8% lower for this year, providing an excellent buying opportunity.
My third pick would an electronic payment-processing company, Nuvei (TSX:NVEI), which has returned over 75% since its IPO in September. It offers payment technology and intelligence services to around 50,000 customers operating across 200 markets with 150 currencies. The company has significant exposure to the iGaming and sports betting industries.
After getting the approval for sports betting in Colorado and Indiana, it recently received the authorization to operate in West Virginia. Currently, 17 U.S. states have legalized online sports betting, which several other states are working on the legalization of sports betting. So, the company has significant scope for expansion.
Further, Nuvei has developed proprietary platforms to support high-growth mobile and e-commerce markets, which could grow at around 13% annually for the next four years. So, given its high growth potential, the company could deliver multi-fold returns over the long run.
The Motley Fool recommends BlackBerry and BlackBerry. Fool contributor Rajiv Nanjapla has no position in any of the stocks mentioned.
B.C. focuses on second doses of COVID-19 vaccine after Pfizer delay: top doctor – News 1130
VANCOUVER (NEWS 1130) — B.C. is still on track to vaccinate the most vulnerable people despite a reduction in deliveries from Pfizer, the provincial health officer says.
Dr. Bonnie Henry explained the supply issue will have the biggest impact over the next week after which deliveries of vaccines will start to pick up again.
She said this will slow down getting the shots to some hospitals, but the province will continue on schedule for giving the first dose to those most at-risk.
“We have, however, been able to rearrange and look at the process that we have to make sure that we are continuing with providing the first of two doses to those at highest risk, and that we are able to start second doses at day 35, in accordance to our plans that we announced a few weeks ago,” she said during Monday’s briefing.
“It is a bit of a setback, but it is only a delay.”
She said the province expects to receive extra doses at the end of February and into early March, when it will look at expanding its program.
Until then, the plan is still to give people their second dose before focusing on getting others their first dose.
Henry added 87,346 people have received a COVID-19 shot since immunizations started.
She stressed that while immunizations are underway, the risk remains high across the province as transmission continues.
Since Friday, 31 people lost their lives to the virus, with the deaths in every health authority. The total since the start of the pandemic climbed to 1,078.
Of the 31 deaths over the weekend, @adriandix says 7 were saturday, 19 Sunday and 5 since yesterday.
Health authority break down
Island, Int and North with a number of deaths in past month relative to their total.#bcpoli @news1130 #COVID19
— LizaYuzda (@LizaYuzda) January 18, 2021
Another 1,330 infections were reported over the weekend.
There was also a jump in cases in non-resident Canadians, which Henry explained is mostly farmworkers coming for the season. Henry noted there are quarantine accommodations.
BC’s #covid19 update Jan 18
(REPOST correcting saturday total typo)
Sa 584,Su 445,Mo 301- 61447
31 deaths- 1078
Non-Res(113)+13 (many temp farm workers coming for season)#bcpoli @news1130
— LizaYuzda (@LizaYuzda) January 18, 2021
She again said the arrival of coronavirus mutations requires caution and following health measures.
“The biggest risk and the biggest variants we have right now is all of us, our human behaviour, the choices that we make every day,” she said.
Henry added the investigation is ongoing after someone tested for the South African variant in B.C. without knowing how they contracted it.
RELATED: South African COVID-19 variant not immune to vaccines but source of B.C.’s first case remains a mystery
Health Minister Adrian Dix noted it has been almost a year since the first COVID-19 joint release from the province, noting it hasn’t been easy.
“We’ve seen through the course of the pandemic a lot of worry, a lot of fear, a lot of loss, a lot of uncertainty. While COVID-19 gives each of us every reason to experience those feelings, each and every day, I also saw from that day something else, something reassuring – resolve, spirit, strength compassion, and well fear and uncertainty. I think are part of every day in a pandemic. What has kept us going to seeing how British Columbians in every part of our province refuse to let fear and uncertainty rule,” he said.
Ontario's top doctor says daily COVID-19 cases will have to fall to around 1000 to lift lockdown – CTV Toronto
Ontario’s top doctor has said the number of new COVID-19 cases reported daily should be “around or below 1,000” before the lockdown orders can be lifted.
Speaking at a news conference on Monday afternoon, the province’s Chief Medical Officer of Health Dr. David Williams said that officials would have to be able to guarantee hospital capacity could be protected before changing public health measures in Ontario.
“If you do that knowing the different numbers and per cents that usually get admitted to hospital and how many of those end up in the (intensive care unit) ICU you get a general sense that you have to get somewhere around or below 1,000 new cases a day,” he said.
“It was only a few months ago, the end of October that we were there, and we can get back there I believe.”
Williams added that the number of people being treated in Ontario intensive care units (ICU) for COVID-19 would also have to be reduced from 400 to about 150.
The province said that it becomes harder to support non-COVID-19 needs when the number of ICU patients with the novel coronavirus exceeds 150.
It becomes “impossible” to handle once it exceeds 350 people.
As of Monday, there are currently 1,571 patients in hospital with COVID-19. Of those, at least 394 patients are being treated in the ICU and 303 are breathing with the assistance of a ventilator.
Ontario Premier Doug Ford issued a province-wide lockdown on Dec. 26 that shuttered all non-essential businesses and prohibited in-person dining at bars and restaurants.
As the number of COVID-19 cases neared 4,000 a day in early January, Ford declared a state of emergency and issued a stay-at home order.
Under this order, residents are required to stay at home with the exception for essential reasons.
Ontario’s COVID-19 case total now stands at 240,364, including 5,433 deaths and 206,310 recoveries.
Pfizer vaccine delay means BC is prioritizing second doses | News – Daily Hive
BC’s top doctor says the province’s most vulnerable residents should all receive their COVID-19 vaccine by the end of March, despite Pfizer’s shipping delay.
The vaccine manufacturer is making upgrades to its European facility to increase the number of doses it can produce. But in the short term, countries receiving shipments from that facility will get fewer doses.
Such delays are to be expected in a large and global vaccine rollout, Dr. Bonnie Henry said at her Monday news conference.
“It’s a bit of a setback but is only a delay,” she said. “We are still on track to protect the most vulnerable by the end of March.”
Due to the delay, a higher proportion of vaccine doses the province has on hand will be going toward second doses and fewer will be used for first doses. BC is still confident second doses can be administered at the 35-day mark.
In the meantime, it’s important that people keep their distance, wear masks, wash their hands, and don’t participate in social gatherings, Henry said.
The most significant impact of Pfizer’s shipping delays will be felt in late January and early February.
During the week of January 25, Pfizer will only deliver one-quarter of Canada’s expected COVID-19 vaccine doses. In the first two weeks of February, the company will deliver half of the expected doses.
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