2 Absurdly Cheap TSX Stocks I'd Buy in June 2024 [Yahoo! Finance Canada]
Magna International, Inc. (MGA)
Last magna international, inc. earnings: 2/21 05:00 am
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Source: Yahoo! Finance Canada
A proven strategy for equity investors is to buy and hold stocks that trade at a cheap valuation. Here, you need to identify a portfolio of stocks that trade below their intrinsic value to benefit from outsized gains when market sentiment improves. Here are two such cheap TSX stocks I'd buy in June 2024. Air Canada stock Valued at $6.16 billion by market cap Air Canada TSX:AC ) is the largest airline and provider of scheduled passenger services in the Canadian market. While Air Canada is on track to report record revenue in 2024, the stock sits 67% below all-time highs. ADVERTISEMENT One key reason for its underperformance is the company's sizeable debt balance, which ballooned amid the COVID-19 pandemic. Moreover, rising interest rates have driven interest payments higher for Air Canada, resulting in narrower profit margins. For instance, its net debt at the end of 2019 stood at $2.37 billion, while it increased to $3.78 billion in the first quarter (Q1) of 2024. However, in
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MGA
News
- Freelander name making jump from old Land Rover model to new EV brand [Yahoo! Finance]Yahoo! Finance
- Magna International (TSE:MG) investors are sitting on a loss of 44% if they invested three years ago [Yahoo! Finance]Yahoo! Finance
- Magna Awarded Reconfigurable Seating Business With Chinese OEMGlobeNewswire
- The most oversold and overbought stocks on the TSX [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- Frank Stronach accused of sexually assaulting three complainants: document [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
MGA
Earnings
- 5/3/24 - Miss
MGA
Sec Filings
- 6/5/24 - Form SD
- 5/30/24 - Form 6-K
- 5/28/24 - Form 6-K
- MGA's page on the SEC website