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Jamieson: How High Can This Stock Soar in 2023?

Jamieson Wellness (TSX:JWEL) is a Toronto-based company that develops, manufactures, distributes, markets, and sells natural health products in Canada and around the world. Shares of this exciting TSX stock have climbed 5.6% year-over-year as of early afternoon trading on January 31. The stock has jumped 6.5% so far in the New Year.

Investors should be eager to get in on the nutrition and supplements industry as it is geared up for big growth in this decade and beyond. It is set to benefit from an older and more health-conscious population in the wake of the COVID-19 pandemic. Grand View Research recently estimated that the global nutritional supplements market was worth $358 billion in 2021. The market researcher projects that this market will deliver a compound annual growth rate (CAGR) of 6.3% from 2022 through to 2030.

We can expect to see this company’s final batch of fiscal 2022 results in late February. In Q3 2022, Jamieson delivered total revenue of $138 million – up from $112 million in the prior year. Meanwhile, it posted adjusted EBITDA growth of 15% to $29.5 million. Adjusted net earnings moved up 1.2% from the previous year to $14.2 million.

Shares of this TSX stock currently possess a price-to-earnings ratio of 31, which puts Jamieson in solid value territory. Moreover, this stock offers a quarterly dividend of $0.17 per share. That represents a 1.8% yield. This is a stock that is well worth snatching up for the long haul.