Best Growth Stocks To Buy This October

Most investors find it challenging to find companies with prospective double-digit growth rates that are also financially robust. These hidden gems also add meaningful upside to a portfolio, should the companies meet expectations. If a buoyant growth prospect is what you’re after in your next investment, I’ve put together a list of high-growth stocks you may be interested in, based on the latest financial data from each company.

Ceapro Inc. (TSXV:CZO)

Ceapro Inc., a biotechnology company, engages in developing and commercializing functionally active ingredients for human and animal health markets through the use of proprietary technology and renewable and sustainable resources. Ceapro was founded in 1997 and with the stock’s market cap sitting at CAD $44.48M, it comes under the small-cap category.

An outstanding doubling of earnings is forecasted for CZO, driven by the underlying 77.00% sales growth over the next few years. It appears that CZO’s profitability may be sustainable as the fundamental push is top-line expansion rather than unmaintainable cost-cutting activities. CZO ticks the boxes for high-growth generation on all levels of line items, which makes it an appealing stock to dig into deeper. Thinking of investing in CZO? I recommend researching its fundamentals here.

TSXV:CZO Future Profit Oct 25th 17
TSXV:CZO Future Profit Oct 25th 17

Guyana Goldfields Inc. (TSX:GUY)

Guyana Goldfields Inc. engages in the investment, acquisition, exploration, development, and operation of gold properties in Guyana, South America. The company currently employs 615 people and with the market cap of CAD $811.54M, it falls under the small-cap group.

Extreme optimism for GUY, as market analysts projected an outstanding earnings growth, which is expected to more than double, supported by an equally strong sales growth of 52.88%. Profit growth, coupled with top-line expansion, is a positive indication. This is because net income isn’t artificially inflated by unsustainable activities such as one-off cost-reductions expected in the future. We see this bottom-line expansion directly benefiting shareholders, with expected positive return on equity of 10.65%. GUY’s impressive outlook on all aspects makes it a worthy company to spend more time to understand. A potential addition to your portfolio? Take a look at its other fundamentals here.

TSX:GUY Future Profit Oct 25th 17
TSX:GUY Future Profit Oct 25th 17

Boyd Group Income Fund (TSX:BYD.UN)

Boyd Group Income Fund operates as an unincorporated open-ended mutual fund trust in the United States and Canada. The company currently employs 6646 people and with the stock’s market cap sitting at CAD $1.77B, it comes under the small-cap stocks category.

BYD.UN’s forecasted bottom line growth is an exceptional triple-digit, driven by the underlying double-digit sales growth of 32.45% over the next few years. Though some cost-cutting activities may artificially inflate margins, it appears that this isn’t solely the case here, as profit growth is also coupled with high top-line expansion. We see this bottom-line expansion directly benefiting shareholders, with expected return on equity coming in at a notable 20.33%. BYD.UN ticks the boxes for robust growth generation on all levels of line items, which makes it an appealing stock to dig into deeper. Should you add BYD.UN to your portfolio? I recommend researching its fundamentals here.

TSX:BYD.UN Future Profit Oct 25th 17
TSX:BYD.UN Future Profit Oct 25th 17

For more financially robust companies with high growth potential to enhance your portfolio, use our free platform to explore our interactive list of these stocks.