OpenText, Sierra Wireless and Enghouse Among Thriving Canadian Tech Stocks Amid Market Volatility

The COVID-19 pandemic might have wreaked havoc across equity markets but some Canadian tech stocks have survived the market volatility and some are even thriving. Here are some tech stocks that have endured the pandemic and promising returns going forward.

OpenText focuses on acquisitions to bolster its revenue

Open Text Corp (NASDAQ:OTEX) is one of the stocks that has outperformed broader markets this year. This enterprise software company develops solutions that help companies establish a sustainable edge in the digital economy. Its OpenText EIM platform offers a range of software solutions offering secure and scalable enterprise management capabilities.

The company focuses on inorganic growth to boost its top line and in the last five years, it has used around $5 billion to acquire other companies. In March it acquired XMedius which added annual revenue of $40 million to its income statement.

Sierra among Canadian tech stocks performing well amid uncertainty

Another Canadian tech stock investors should eye is Sierra Wireless (NASDAQ:SWIR). Sierra is a leader in the internet of things (IoT) and in recent times the company has shifted to focus on device-to-cloud subscription services. The company has continued to grow its service revenue despite the current events that have eroded its earnings.

The company has massive potential in the long-term as it has been advancing various solutions. Sierra is advancing a suite of IoT application and the anticipated 5G deployment will offer significant growth going forward.

Enghouse up 40% year to date

Also, enterprise software solutions company Enghouse System (TSX:ENGH)  has performed well th9is year and its stock is up 40% since the beginning of the year. The solid performance has been down to its focus on enterprise software solutions for visual computing, remote work as well as telecommunications networks.

Enghouse has a roll-up strategy and has been spending around $20 million to $40 million annually on acquiring quality software assets. Recently, Enghouse reported sales of $140.9 million in Q2 2020 and earnings per share of $0.49.

Barrick Gold, Newmont, and Agnico Mines Among Canadian Mining Stocks Performing Well Amid COVID-19 Pandemic

Canadian mining stocks have performed exceptionally in the wake of the COVID-19 induced market volatility. Because of global economic uncertainty, there has been a surge in demand for safe-haven assets like precious metals which have seen prices skyrocket. This has benefitted most of the Canadian miners especially those focusing on gold. Currently, it’s merry for gold miners, and here are some Canadian mining stocks to watch.

Barrick expects YoY earnings growth of 55%

Barrick Gold Corp (NYSE:GOLD) is one of the top Canadian mining stocks that offers a strong forage into mining stocks. It is one of the largest gold miners in terms of reserves production as well as market cap. According to Consensus Estimates the Toronto-based miner expects to post YoY earnings growth of 55%. Barrick Gold has a positive four-quarter training earnings surprise of around 15.4%.

In Q1 the company produced 1.25 million ounces and sold 1.22 million gold ounces for $1,583 per gold ounce. Also, it produced 115 million pounds of copper and sold 110 million pounds at $2.56 per pound.

Agnico Mines among top-performing Canadian mining stocks

Also, Agnico Eagles Mines (NYSE:AEM) is among the top-performing Canadian mining stock. it is one of the miners that have been consistent over the years and it delivers mines as assured while maintaining low costs. The company has eight mines across Canada, Mexico, and Finland.

Agnico Mines’ Nunavutis Meadowbank complex will soon achieve commercial production. On the other hand, the Amaruq project has been ramping up to full production since last year with production expected to jump to 351,000 ounces by 2021.

Newmont has an annual production base of 6 million ounces

Newmont Corp (NYSE:NEM) is also another standout gold focusing Canadian mining stock. the company has a huge production base of over 6 million gold ounces per year. this makes Newmont one of the biggest gold miners in terms of production globally. Most interestingly its projects and operations are diversified in various jurisdictions across the Americas, Africa as well as Australia.

Canadian Esports Stocks Holding Well Amid COVID-19 Crisis: Torque Esports, Enthusiast Holding And New Wave Holding

Canadian eSports stocks are among the equities that have held well during this COVID-19 pandemic. Most industries experienced massive selloff because of the volatilities caused by the pandemic and concerns of a global recession but eSports stocks have performed pretty well.

Torque’s Stream Hatchet reveals reason for the closure of Microsoft’s Mixer

One of the Canadian eSports stocks that have performed well during the pandemic is Torque Esports Corp (CVE:GAME). Torque’s gaming atelier, Eden games offers mobile phone racing games and the company also offers games high-end simulators.

Stream Hatchet the company’s live-streaming analytics and data expert has revealed why Microsoft Corp (NASDAQ:MSFT) closed Mixer, its esports streaming platform. Darcy Lorincz the COO of Torque Esports stated that the decision to transition to Facebook Gaming makes sense because of user growth challenges. Lorincz stated that hatchet data indicates that Mixer has been facing audience challenges as rivals such as Facebook Gaming continue to grow.

Enthusiast’s Vancouver Titans renew partnership with Circle K

Another eSports stock that has been hitting waves is Enthusiast Gaming Holdings Inc. (TSXV:EGLX). The company operates a network of gaming sites of more than 80 sites and close to 75 million monthly viewers.

The company’s esports team Vancouver Titans has announced the renewal of its agreement with Circle K which builds on the inaugural season relationship with Titans. According to the terms of the agreement, the partnerships involve new fan engagement on top of the elements that Titan fans are familiar with already.

New Wave Among Canadian eSports Stock doing well amid COVID-19

New Wave Holdings Corp (CSE:NWES) has also held up during the pandemic. The company offers esports consultancy services and it has been consolidating its position in the industry through a series of acquisitions even expanding beyond esports. Recently the company completed a private placement for total gross proceeds of more the $2 million. The company is focusing on the psychedelic sector on the functional mushroom product line, development of an IP focusing on LSD, psilocybin, and MDMA derived treatments.

Aphria, Aurora Cannabis, and OrganiGram Among Canadian Cannabis Stocks to Offer High returns Post COVOD-19

Canadian cannabis stocks have been less appealing to investors because of volatility caused by the COVID-19 crisis. However, the industry still has potential and in the next few years, the cannabis sector will truly live to its potential. Here are some stocks showing a lot of potentials.

Aurora rightsizing as it focuses on generating profits

Aurora Cannabis (NYSE:ACB) is one of the stocks showing much potential going forward and the stock recently received a boost to $17.35 per share. The company has initiated several measures to transform the business which include downsizing.

Last week the company announced that it will close five facilities in Canada and lay off around 700 workers. The cost-cutting measures, consolidation of production, and strategic alignments are supposed to help the company in its path to realizing positive EBITDA.

Organigram Among profitable Canadian cannabis stocks

Another Canadian cannabis stock that looks attractive is OrganiGram Holdings Inc. (NASDAQ:OGI) which is among the profitable cannabis stocks. The company offers its award-winning products in all the 10 provinces in Canada.

In Q2 2002 results the company’s revenue dropped by 8% to CA$23.2 million with a negative EBITDA od CA$1.1 million having generated positive EBITDA in Q1. But the company’s problems seem to be short terms and the dip in revenue was due to price adjustments and write-downs. In the long-term OrganiGram looks solid and recently it secured a supply deal with Israeli company Canndoc to supply 6,000kg of dried flower.

Aphria growing sales in key markets in Canada

Aphria Inc. (NYSE:APHA) is currently the hottest Canadian cannabis stock that has shown consistent profitability. The company has an edge thanks to its focus on international markets and there is also adequate room for domestic growth.

The operator has supply agreements in all provinces with a 77% vaping market share in Ontario. In its fiscal third-quarter, the company grew e-commerce sales in Quebec by around 200%. The company has cash of around $r515 million putting it in a strong position to continue growing.

BlackBerry, Docebo and Kinaxis Among Canadian AI Stocks Whose Value Will Explode Post COVID-19

The COVID-19 pandemic has caused a lot of volatility in equity markets but Canadian AI stocks are among stocks that have returned a fortune to shareholders. With the crisis now seemingly over stocks have started showing an uptick and markets are moving higher. Here are some Canadian AI stocks investors should be keen on before their value explodes.

BlackBerry Among Canadian AI stocks to ride in the next decade

One of the Canadian AI stocks expected to explode in the next decade is BlackBerry Ltd (NYSE:BB). The company, through its Cylance division, uses AI to predict threats in systems, and since endpoint security is a massive potential industry the company is poised to dominate the market.

Equally, BlackBerry’s AI and QNX platforms have been at the center of the evolution of autonomous driving. Several legacy automobile companies could depend on BlackBerry in creating operating systems for autonomous vehicles which is also a multi-billion market.

Kinaxis enhances its RapidResponse platform with the acquisition of Rubikloud

Another AI stock that has been growing at the back of machine learning and AI development is the Ottawa-based supply chain Management Company, Kinaxis Inc. (TSX:KXS). In the last there months the stock has surged almost 96% and it among the AI stocks that have achieved profitability.

The company recently enhanced its RapidResponse platform with plans to acquire AI solutions company Rubikloud. Ribikloud offerings will enhance the demand planning capabilities of Kinaxis’ RapidResponse platform.

Docebo’s AI-powered learning solution vital for remote working

AI leveraging cloud company Docebo Inc. (TSX:DCBO) is another stock that has performed well this year. The stock is 233% up from its March lows and it is among stocks expected to explode in value going forward. Docebo operates in the learning management system industry and it uses AI to deliver, track, manage as well as document resources.

With remote working becoming a norm the company’s e-learning platform helps companies to train and teach clients from home. Its service has become valuable as there is growth in demand for remote working products.

High Return Canadian Tech Stocks Investors Should Eye: Constellation Software, Kinaxis, and Lightspeed POS

This year there has been a lot of volatility in equity markets within massive selloff but Canadian tech stocks have withstood these headwinds and have been soaring. With equity markets seemingly bouncing back here are some tech stocks investors should consider for long term returns.

Lightspeed among Canadian stocks riding on COVID-19 tailwinds

The first name among the Canadian tech stocks investors should is Lightspeed POS Inc. (TSE:LSPD) which is up almost 195% from its March lows. The enterprise enabling company has benefited from the COVID-19 pandemic tailwinds and its stock has almost tripled. Lightspeed serves small and medium-sized enterprises like retailers, restaurants, and mom-and-pop. These are businesses that have received support from the government and they have been purchasing offerings from Lightspeed.

Kinaxis’ supply chain management solution essential during the pandemic

Another Canadian tech stock that has almost doubled this year is Kinaxis Inc. (TSE:KXS) which is currently valued at a market capitalization of $5 billion. There have been disruptions in supply chains this year but through Kinaxis’s RapidResponse companies have been able to track shipments, manage inventory, and even sourcing raw materials.

The company’s revenue will continue growing as most companies turn to its supply chain solution in the short term. Most importantly the company has been consolidating its positions and recently it acquired tech company Rubikloud for $60 million.

Constellation software can offer quick returns

Constellation Software Inc. (TSE:CSU) is also another Canadian tech stock that is a proven winner that can offer investors quick returns going forward. The company acquires software companies and it boasts an empire of subsidiaries spanning across North America to Europe that serves niche sectors like timber logistics and pharmaceutical manufacturing.

The company has continued to grow its sales at double digits and returns on invested capital are more than 30%. Most importantly the company doesn’t have much competition which reduces pricing pressure and enhances there are premium renewal rates for clients as there is no competing product they can switch to.

Barrick, Kinross Gold, And Franco-Nevada Among Promising Canadian Mining Stocks Post COVID-19

Canadian mining stocks have withstood the recent turmoil on equity markets caused by the COVID-19 pandemic. Although miners were forced to shut operations due to COVID-19 some resumed operations sooner than anticipated. Most importantly the miners have benefited from the growing prices of precious metals.

Barrick to Commence exploration at Pueblo Grande project

One Canadian mining stock that has performed well during the pandemic is Barrick Gold (NYSE:GOLD). The company was among the companies that didn’t suspend operations amid the COVID-19 pandemic. Barrick has been generating significant returns recently and Zacks Consensus Estimates for its full-year earnings are up 8.64% over the past quarter.

The company has continued to enhance its position and has commenced fieldwork and exploration at Precipitate Gold Corp’s (TSXV:PRG.V) Pueblo Grande mine in the Dominican Republic. The mine is in proximity to Barrick’s Pueblo Viejo project which is a joint venture between the company and Newmont Goldcorp (NYSW:NEM).

Kinross reaches agreement with Mauritanian Government over Tasiast Sud project

Another mining stock that has performed exceptionally is Kinross Gold Corp (NYSE:KGC). Recently the company reported strong quarterly financial results compared to other miners. Its operations were impacted minimally with the company managing to produce 567,327 gold ounces.

The company has announced that it has solved disputes with the Mauritanian government resulting in the company receiving a 30-year license for exploratory activities for Tasiast Sud. Kinross also reached an agreement with the government resulting in reinstating tax exemption of fuel levies with the Mauritanian government expected to pay the company around $40 million in Vat refunds.

Franco-Nevada among Canadian mining stocks that have rallied in 2020

Franco Nevada Corporation (NYSE:FNV) is also among Canadian mining stocks that have gained significantly this year. The stock is 62.4% up year to date and the company has a 4% EPS growth estimate. One of the factors that have been driving the stock is portfolio diversification. Its two assets the Antapaccay and Candelaria contributed around 12% each to its 2019 revenues.

YDX Innovation, FansUnite, and Backstageplay Among Canadian Esports Stocks With Promising Potential Amid Uncertainties

Canadian eSports stocks have been performing well amid the COVID-19 pandemic. With the social distancing restrictions and stay at home orders to combat the spread of the virus, more people turned to eSports for entertainment as the number of players and viewers continues to increase.

YDX among Canadian eSports stocks with exceptional quarterly results

YDX Innovation Corp (TSXV:YDX.V) is one of the Canadian eSports stocks that have performed exceptionally recently. The company reported a YoY growth in net revenue in Q4 of $721,681. YDX reported a gross margin of $840,620 in 2019 with the Arkave VR division generating around $205,177 in gross sales.

Last year the company delivered a series of new products in the form of interactive exhibitions. It invested in owning and building its IP after it entered an agreement with Walt Disney Co Brazil to develop its exclusive VR experience. The goal is to add more licenses and products for global commercialization.

FansUnited to acquire Askott entertainment

FansUnite Entertainment Inc. (CNSX:FANS) which is a sports and entertainment company that focuses on eSports betting is consolidating its position in the industry by merging with Askott Entertainment Inc. The merger will create a top online gaming firm the focuses on eSports betting, sports betting as well as casino games.

According to terms of the merger agreement, the company will acquire all Askott Entertainment’s outstanding securities. Following the acquisition of securities, Askott and FansUnite’s newly incorporated subsidiary will amalgamate and operate as one entity.

Backstageplay merges with LA-based Esports organization

Backstageplay Inc. (TSXV:BP.V) is also enhancing its forage into eSports through a merger with Los Angeles Based eUnited.  The company which designs gaming software and offers eSports gaming is merging with the eSports organization and as per the terms of the agreement, it will be operating eUnited.

The company’s CEO Scott White indicated that they are looking to enhance experiences of eSports professionals as well as teams by offering a platform for monetization through gamification. He added that the merger was a huge milestone for the company.

Aurora Cannabis, Hexo, And Valens Among Canadian Cannabis Stocks Expected To Thrive As The Industry Rebounds

In the last two years, the cannabis industry has faced a myriad of challenges but the COVID-19 pandemic has brought new realities for Canadian cannabis stocks. Cannabis stocks experienced a surge in demand for pot during the COVID-19 lockdown leading to several operators reporting exceptional results in the recent quarter.

Aurora Cannabis among thriving Canadian cannabis stocks

One of the companies that reported exceptional results recently is Aurora Cannabis (NYSE:ACB). The company is better positioned to continue thriving following a series of measures to conserve cash because of growing cash concerns. The trigger for Aurora Cannabis was its value brand shift to Daily Special at the beginning of Q1 2020.

The company’s recreational cannabis sales grew by CA$8 million sequentially to CA$42 million. Aurora shifted its focus to value brands hence the exceptional results. In February the company changed its focus from the most international location to a focus on domestic, US, and Germany markets.

Hexo instituting cash saving measures

Hexo Corp (NYSE:HEXO) is another Canadian player that is trying to get its act together and it instituted a series of measures to conserve cash. Last year the company’s top Gatineau facility was on track and the company boosted its production through the acquisition of Newstrike Brands.

However, cash problems have forced the company to close and sell its Niagara facility that it acquired through the Newstrike deal. The cannabis operator has also laid-off most of its staff as well as idled most of its cultivation area at the Gatineau facility.

Valens Groworks stock up 27% in 2020

Valens Groworks Corp (TSE:VLNS) has also performed exceptionally with its stock jumping 27% since the beginning of the year. The company is positioning itself as a marijuana manufacturing company instead of an extractor through the transformation of its business models with a focus on the domestic Canadian market. In its recent quarter, Valens reported revenues of $31 million and for fiscal 2020 the company expects to generate revenue of around $138 million.

Datametrex AI, Docebo and Kinaxis Among Canadian AI Stocks To Maintain Growth Momentum Post COVID-19

Artificial Intelligence is one of the fast-growing sectors in the world today and some Canadian AI stocks are already making a name for themselves. In the wake of the COVID-19 pandemic, some of these stocks have thrived as their services became more important.

Kinaxis boosts its AI capabilities with the acquisition of Rubikloud

Among the Canadian AI stocks that have flourished during this period is Kinaxis Inc. (OTCMKTS:KXSCF) which uses AI to automate supply chain management systems. The company’s stock is up around 86% since the beginning of the year. Kinaxis has solid backlogs which indicate that going forward it still has massive firepower.

The company’s RapidResponse employs machine learning in predicting lead times and outcomes as well as automation. Kinaxis recently acquired AI startup Rubikloud as it continues to enhance its capabilities. Rubikloud offers AI demand planning solutions and software to CPG companies and retailers.

Docebo among Canadian AI stocks enjoying growth during the pandemic

Another AI-powered business that has also thrived during the pandemic is Docebo Inc. (OTCMKTS:DCBOF). The stock has surged over 88% year to date with the company showing stellar growth, especially during the pandemic. The company offers AI-powered learning platforms and solutions.

The company has been acquiring customers fast this is shown through the growth of its recurring revenue that has in the past three years grown at CAGR of 69%. New client acquisition, favorable operating conditions, operational efficiencies, and larger deal size will act as tailwinds for Docebo’s growth.

Datametrex secures rights to sell COVID-19 home test kits

Datametrex AI Limited (OTCMKTS:DTXMF) is another Canadian AI stock offering Machine Learning and AI solutions through its subsidiary Nexalogy and has recently been focusing on the COVID-19 test kits. Nexalogy offers tools that derive meaning from social media data through semantic clustering algorithms. The company recently announced that it has received rights to sell RapiGen Inc.’s FDA registered COVID-19 home testing kits. The kits don’t need extra equipment and are ideal for point of care testing offering results in 15 minutes.