NGEX:CC - 3 Growth Stocks Wall Street Might be Sleeping On But I'm Not
2024-02-29 20:45:00 ET
When it comes to performance, some companies stand out more than others. The big names. Those invested in by people like Warren Buffett or Prem Watsa. But what about the smaller companies showing huge growth, and yet no one is really discussing them.
Today, I’m going to bring three of these companies to light. Stocks that have seen major growth in the last year, but remain under the radar. So without further ado, let’s get to it.
NGEx Minerals
First up, we have NGEx Minerals (TSX:NGEX), whose shares have climbed 131% in the last year alone. That growth comes from the company currently being in its exploration stage, and finding strong areas for mineral production. The mining company therefore hasn’t produced earnings yet, but there is a huge opportunity for those seeking future growth and long-term opportunities from successful exploration.
The company hosts a strong management team with extensive experience in the mining industry. They are specifically dedicated to copper exploration and development. And it’s copper that the company will continue to focus on in the near future.
Copper demand continues to be a vital material for the green energy transition. That demand has been rising and should continue to do so in the coming years. By focusing here, NGEx is positioning itself well for future growth. Especially with high-grade assets across the world already under development.
Lumine Group
Another company that offers some exposure to significant growth is Lumine Group ( TSXV:LMN ). The company has seen shares surge by 112% in the last year alone. And that’s saying something, given that it’s a tech stock in the still volatile tech sector.
Lumine stock is a communications and media software acquisition specialist. The Canadian company focuses on acquiring and building software in this industry. They operate as a “buy and hold forever” acquirer, looking for companies with long-term growth potential.
This area of the market has already been proven by long-term acquirers such as Constellation Software ( TSX:CSU ). As long as management can prove their long-term purchases are strong, this could be a stellar opportunity for investors on the TSX today. And with shares already climbing so high, it seems many investors are already on board with this theory.
TerraVest Industries
Finally, TerraVest Industries ( TSX:TVK ) is another company seeing enormous strength in the last year. The oil and gas equipment provider saw shares climb 118% in the last year as of writing. And again, that seems to only be continuing for the foreseeable future.
TVK is known for consistent growth, boasting a history of consistent earnings growth, and with earnings per share (EPS) growing by 27% per year over the last three years! What’s more, there is significant insider ownership at 25%. This shows that management has a large financial stake in the company, so the company’s interests are their own interests.
While TVK may invest in the oil and gas market through its products, there is diversification as well. Its assets span across oil, gas, and now renewable energy. This will help through the clean energy transition, as well as provide diversification for less risk.
And TVK stock has been known to grow through acquisitions as well. All considered, even with recent share growth it provides a reasonable valuation. The price could certainly climb higher, making now a great time to pick up the stock. Especially with a nice little bonus dividend at a 1.08% yield.
The post 3 Growth Stocks Wall Street Might be Sleeping On, But I’m Not appeared first on The Motley Fool Canada .
Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool recommends Constellation Software, Lumine Group, and TerraVest Industries. The Motley Fool has a disclosure policy .
2024