Yahoo Finance The Best Stocks to Invest $1,000 in Right Now
Written by Amy Legate-Wolfe at The Motley Fool Canada
Canadian investors might be sitting on some strong opportunities right now. The market continues to trade around all-time highs, but it’s not there yet. And there are therefore still some deals that can be had before we enter a growth environment once again. So if you have $1,000 on hand that you’re ready to invest, these are the three best stocks to park your cash in right now.
Celestica
Shares of Celestica (TSX:CLS) have surged in the last year as the company sees growth from the interest in semiconductor stocks. Celestica stock is a multinational electronics manufacturing services (EMS) company. The company provides a wide range of services including design, engineering, manufacturing, and supply chain management for various industries such as aerospace and defence, healthcare, industrial, and semiconductor.
It’s of course this last area that’s seen immense interest, as without Celestica stock, there wouldn’t be any semiconductors. Which is why the company has managed to expand so much, now spanning from Canada and the United States into China and Eastern Europe.
As interest continues to grow, so too will revenue for Celestica stock. Therefore, if you’re looking to gain from interest in semiconductors, it’s one of the best stocks I would certainly pick up today.
Lundin Mining
Another strong option that goes hand in hand with semiconductor stocks is Lundin Mining (TSX:LUN). True, a mining stock on the surface doesn’t have much to do with the sector. However, Lundin stock focuses much of its business on the production of copper.
Copper is used in everything from plumbing to circuit boards. The company has therefore focused about 60% of its business on the commodity, and good thing too. Demand is high, but production has been lower in the last few years for other companies. Yet for Lundin stock, it sees production of copper only increasing this year and beyond.
So with shares up by 46% in the last year and a dividend yield at 2.35%, it’s certainly another of the best stocks that you can invest in with that $1,000.
Topicus
Finally, if you had a couple thousand dollars I would likely turn your attention to Constellation Software (TSX:CSU). However, if you don’t, then Topicus (TSXV:TOI) is a great secondary option. This company is a spinoff of CSU stock, both run by management that includes Mark Leonard, founder and CEO of CSU stock.
These companies engage in the acquisition of software firms in niche markets. This allows them to corner the markets, becoming the primary option for those that need the software. This approach allows Topicus to deliver highly specialized and effective solutions that address the specific requirements of its clients.
Topicus now has a track record of growth through both organic expansion and strategic acquisitions. The company actively seeks opportunities to expand its portfolio of products and services, enter new markets, and strengthen its position in existing markets through acquisitions and partnerships. Shares are now up by 36% in the last year alone, and rising, so it’s another of the best stocks to consider these days. And one I’d continue to hold for years to come.
The post The Best Stocks to Invest $1,000 in Right Now appeared first on The Motley Fool Canada.
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Fool contributor Amy Legate-Wolfe has positions in Topicus.com. The Motley Fool has positions in and recommends Topicus.com. The Motley Fool recommends Constellation Software. The Motley Fool has a disclosure policy.
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