Top 5 TSX stocks under $1 to buy in 2022

by John Smith Stock Market Investor

Many traders and seasonal investors look for pocket-friendly investments like stocks under C$ 1 to gain from the upward price movements.

It may sound like an easy way to make money. However, such an investment approach should be guided by thorough research and evaluation of stocks and market dynamics that could influence prices.

Here are five Canadian stocks priced under C$ 1 that one can explore in 2022.

1. Gear Energy Ltd (TSX:GXE)

Gear Energy Ltd produced 5,859 barrels of oil equivalents per day, including natural gas liquids, in the third quarter of fiscal 2021.

The Calgary-headquartered energy company, which posted a return on equity (ROE) of 45.75 per cent, also reported a net debt reduction of 54 per cent to C$ 27.9 million in the latest quarter.

2. Numinus Wellness Inc (TSX:NUMI)

Numinus Wellness Inc saw its revenue increase to C$ 0.5 million in the fourth quarter of fiscal 2021. This increase was a year-over-year (YoY) growth of 81 per cent resulting from the Mindspace acquisition.

The integrated health service provider recorded its stock close at C$ 0.61 apiece on January 4. The NUMI stock gained about 15 per cent quarter-to-date (QTD).

3. Nevada Copper Corp (TSX:NCU)

Nevada Copper Corp reported a net income of US$ 28.10 million in the third quarter of FY2021, up from a loss of US$ 2.58 million incurred a year ago.

With a price-to-earnings (P/E) ratio of 30.50, the copper-focused miner closed its scrip at C$ 0.76 apiece on January 4. The mining scrip also jumped by over 33 per cent in the last one month.

4. Questerre Energy Corporation (TSX:QEC)

Questerre Energy Corporation is a Canadian energy company that serves the oil and gas industry. Questerre Energy recorded petroleum and natural gas sales worth C$ 7.4 million in Q3 FY2021, up from C$ 5.4 million a year ago.

Here's the last stock - top tsx penny stock for 2022