World news – CA – The two highest buy stocks for November 2020

The Motley Fool Canada »Banking stocks» The top two stocks to buy in November 2020

Kai Ng | 9 November 2020 | More on: BNS GOLD ABX BNS

Our stupid writers excitedly came up with the 16 Best TSX Stock Ideas to Buy in November 2020

Investors who have an investment horizon of at least three years can consider Bank of Nova Scotia (TSX: BNS) (NYSE: BNS) as one of the top-of-the-list stock ideas. There are good reasons why two stupid books for the bank were chosen as their biggest stock to buy this. Month

Many Canadians have experienced income cuts due to the COVID-19 disruptions Don’t worry, though, you can refill a portion of the lost income with a rich bank’s dividend yield of nearly 64%

BNS stock has an impressive dividend track record – 187 years to be exact! If you do the math, the bank has paid dividends every year since 1833

The bank’s last reported quarter ended on July 31, year-to-date, its revenue increased by 33% It’s always good to see an increase in earnings Unfortunately, higher provisions for credit losses from epidemic disruptions to the economy have resulted in a net decline Income The Impact is Particularly Serious in Emerging Markets This resulted in a drop in BNS net income by 24% to $ 4,954 billion and a sustainable payout rate of just under 70% for the period.

Assuming that the period last year, in the normal environment, the bank faces a similar percentage of provision for credit losses, its net income would have grown by 16% to around $ 7,557 billion instead this would have translated into growth Diluted earnings per share of approximately 20% to $ 5 92

Rest assured that the bank’s earnings will eventually bounce back. Just bear in mind that it may take a few years. By then, you will have reaped fantastic profits from your investment and be on a good price hike by more than 40% of current levels.

I thought I should also highlight that three stupid writers (including myself) had chosen a stock of gold as their best idea I chose another writer Barrick Gold (TSX: ABX) (NYSE: GOLD) as the best stock of November

First, Barrick Gold faced some support at the end of October after a 15% sell-off

Second, Barrick has incredibly industry-leading margins and benefits in today’s soaring gold price environment. From Q1 to Q3, the EBITDA margin, a measure of a company’s operating profit as a percentage of its revenue, jumped from 464% to 603% Likewise, The free cash flow generation tripled in this period

With all of the money printing occurring around the world, gold prices are set to rise higher in the near and medium term Currently, analysts have a 12-month average target price of $ 35 10, which represents a 21% probability of a near-term rally However, you can expect the target price to rise when gold prices go higher.

Other than Nova Scotia Bank and Barrick Gold, Goodfood Market, Northwest Healthcare Properties REIT, and TransAlta Renewables were among the top ideas chosen by two foolish writers.

Personally, I think it’d be good considerations on dips Goodfood is a high growth game, while Northwest Healthcare Properties and TransAlta Renewables deliver good income

If I had extra cash, I would consider getting some Bank of Nova Scotia shares for income and some goldmine stocks for close to medium term trade

Popular Canadian investor Iain Butler just picked 10 shares for Canadians to buy TODAY so if you get tired of reading about other people getting rich in the stock market, this might be a good day for you.
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False shareholder Kai Ng owns shares in NORTHWEST HEALTHCARE PPTYS REIT UNITS and The Bank of Nova Scotia The Motley Fool recommends NOVA SCOTIA, Goodfood Market and NORTHWEST HEALTHCARE PPTYS REIT UNITS

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