4 Best Cheap Canadian Stocks to Buy Right Now & Hold Under $35

Canada boasts a robust and stable economy, making it an attractive destination for investors seeking long-term growth. The country's prudent financial regulations and policies contribute to a favorable investment climate.



Canada's technology sector has been on the rise, with innovative companies driving growth. Investing in tech stocks can be a strategic move for those eyeing future-oriented industries.

In this article, we'll talk about the 4 best Canadian stocks to buy right now in the market, exploring why it's a promising arena for investment and identifying some hidden gems priced under $35.

 1. Nuvei: (TSX: NVEI)



Over the past few months, the company has faced significant pressure, experiencing a roughly 57% decline in its stock value in the preceding three months. The company's second-quarter earnings were lackluster, and the reduction in its 2023 guidance has had a negative impact on its stock price.

The company's management attributes the downward revision to longer-than-expected delays in securing new business and the termination of its association with a major customer. Despite these challenges, I am of the opinion that the market reaction has been excessive, presenting favorable buying opportunities for long-term investors.

2. Pizza Pizza Royalty: (TSX: PZA)

In recent months, the company has been under substantial pressure, witnessing a nearly 57% drop in its stock value over the past three months. Lackluster second-quarter earnings and a lowered 2023 guidance have adversely affected its stock price.

The company's management attributes the downward revision to unexpectedly prolonged delays in securing new business and the termination of its relationship with a key customer. Despite these hurdles, I believe the market response has been overly harsh, creating advantageous buying opportunities for long-term investors.

3. Telus: (TSX: T.TO)

Telus (TSX:T) stands as another promising long-term investment in our increasingly interconnected world. Fueled by the rising demand for telecommunication services, the company is actively expanding its 5G and broadband infrastructure through an ambitious capital expenditure program.

Currently, Telus offers PureFibre connections to around 3.1 million locations and has extended its 5G network coverage to reach 84% of Canadians. Amid these strategic investments, the company achieved the addition of 293,000 new connections in the second quarter, accompanied by a 1.8% growth in its ARPU (average revenue per user).

Notably, the churn rate remained impressively low at 0.91%. These robust operational metrics are poised to sustain and potentially enhance the company's financial performance in the upcoming quarters.

4. Suncor Energy Inc.: (NYSE: SU)

Suncor Energy Inc. (NYSE: SU) shares have seen an 8% increase year-to-date as of October 26. The company is making headlines with its announcement of acquiring Total Energies' (NYSE: TTE) Canadian operations for approximately C$1.47 billion.

Suncor Energy Inc. (NYSE: SU) CEO Rich Kruger is addressing comments he made during the company's Q2 earnings call regarding climate change goals, explaining them to Canadian lawmakers.

In the dynamic world of Canadian stocks, opportunities abound for investors willing to explore. By understanding the market, evaluating potential investments, and implementing sound strategies, you can navigate the stock market successfully.

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