Today we have brought up with a very arresting article about the best Canadian stocks to buy now, based on Insider Monkey’s latest article. Canada is the second-biggest country across the globe by area, and is regarded to be a real “energy superpower”. It has large natural resources and a relatively small population of 37 million. According to Insider Monkey, the real GDP of Canada was about CAD1.64 trillion.
As all the countries on the world, Canada was highly influenced by the COVID-19 pandemic. Consequently, the year of 2020 was a difficult year for the country, nevertheless it made large efforts to get back on track. But this year will be prosperous for Canada, as a recent report predicted 4.4% growth in GDP for Canada for 2021.
So what are the best Canadian stocks to buy now? Keep up reading and we’ll show you three of them immediately. Brookfield Asset Management stands on the fifth spot of the compilation with 35 hedge funds and $1.08 billion of total value of hedge fund holdings. Bausch Health Companies is on the fourth spot with 40 hedge funds and a total value of hedge fund holdings of $1.60 billion. John Paulson’s Paulson & Co. is the top hedge fund holder with having invested $401 million in the stock at the end of the third quarter in 2020. In June 2020, an insider bought 948,353 shares at around $19. Since then the stock has seen 36% decrease. In August 2020, the company reported to increase their eye care, international pharma, gastroenterology, aesthetics/dermatology, and neurology business. Barrick Gold Corporation is the second best Canadian stock to buy currently. It has 52 hedge funds and a total value of hedge fund holdings of $3.09 billion. The company has managed to cope with the challenges caused by the COVID-19 coronavirus pandemic, with fairly strong results. According to Insider Monkey’s investigation “Barrick has drawn on previous management experience with Ebola outbreaks in Africa to formulate a plan to promote the safety of its employees and communities in the face of Covid19.” For more useful information about the best Canadian stocks to buy now, please click and jump to see the entire article.