What are the Top TSX Stocks to Watch?

As a finance and economics writer, I am often asked about the top stocks to watch on the Toronto Stock Exchange (TSX). With so many options available, it can be difficult to know where to start. In this article, I will explore some of the most promising TSX stocks to keep an eye on.

1. Technology

The technology sector has been growing rapidly in recent years, and the TSX is no exception. One company to watch in this sector is Shopify Inc. (SHOP), which provides an e-commerce platform for businesses of all sizes. Shopify has seen impressive growth in recent years, with revenue increasing by 47% in 2020. Another technology company to watch is Lightspeed POS Inc. (LSPD), which provides a cloud-based point-of-sale system for retailers and restaurants. The company has seen strong revenue growth and recently announced a partnership with Google to expand its reach.

2. Resources

Canada is known for its abundant natural resources, and the TSX is home to many companies in the resource sector. One company to watch is Barrick Gold Corp. (ABX), which is one of the largest gold mining companies in the world. With the price of gold on the rise, Barrick Gold is well-positioned to benefit from increased demand. Another resource company to watch is Canadian Natural Resources Ltd. (CNQ), which is a leading producer of oil and gas. The company has a strong balance sheet and has been increasing its dividend in recent years.

3. Healthcare

The healthcare sector is another area of growth on the TSX. One company to watch is Canopy Growth Corp. (WEED), which is a leading producer of cannabis products. With the legalization of cannabis in Canada and many other countries, Canopy Growth is well-positioned to benefit from increased demand. Another healthcare company to watch is Bausch Health Companies Inc. (BHC), which produces a range of pharmaceuticals and medical devices. The company has been restructuring in recent years and has seen strong revenue growth.

4. Financials

The financial sector is a core part of the TSX, and there are many companies in this sector worth watching. One company to watch is Brookfield Asset Management Inc. (BAM), which is a global asset manager with a diverse portfolio of real estate, infrastructure, and renewable energy assets. The company has a strong track record of delivering value to shareholders. Another financial company to watch is Canadian Imperial Bank of Commerce (CM), which is one of the largest banks in Canada. The bank has a strong balance sheet and has been increasing its dividend in recent years.

Investment Strategies

While these companies are worth keeping an eye on, it is important to remember that investing always carries risk. Before investing in any stock, it is important to do your research and develop a soundinvestment strategy. Some strategies to consider include value investing, growth investing, and dividend investing. It is also important to diversify your portfolio to reduce risk.

In conclusion, the TSX offers a wide range of investment opportunities across many sectors. By keeping an eye onpromising companieslike Shopify, Barrick Gold, Canopy Growth, Brookfield Asset Management, and Canadian Imperial Bank of Commerce, investors can position themselves for long-term growth and success. Remember, always do your research and develop a sound investment strategy before investing in any stock.