The new year has offered investors a more diverse and mature cannabis market as leaders in the space solidify positions in international markets and newcomers find ways to differentiate strategies in the industry.
With the first quarter of 2019 now over, the Investing News Network has rounded up the top marijuana stocks for the January to March period. All figures were collected at the close of markets on March 29.
The stocks listed below have market caps between C$10 million and C$500 million, except for the stocks on the Toronto Stock Exchange (TSX) which, given the exchange’s size, have market caps between C$1 billion and C$15 billion.
The CSE’s top cannabis stocks
Heritage is a vertically integrated cannabis firm with various subsidiaries in different sub-sectors such as extraction and growing.
In February, the company completed the integration of BriteLife Sciences into its holdings, which will allow it to expand further in the medical cannabis market.
Investors showed an interest for Heritage’s continued path in the market with an increase in share value of 288.24 percent for the first quarter of 2019.
2. Ventura Cannabis and Wellness (VCAN) (CSE:VCAN,OTC Pink:CVHIF)
Formerly known as BLVD Centers, VCAN operates addiction treatment centers across the US. Now, it is transitioning to a marijuana-focused strategy.
The company is pairing its original plan with new acquisitions in the cannabis space, such as dispensaries in Cathedral City, California, and Portland, Oregon.
VCAN captured the attention of the market and received a boost to its share value of 127.27 percent during the first quarter of 2019.
3. Sproutly Canada (CSE:SPR,OTCQB:SRUTF)
Sproutly’s work focuses on developing water soluble cannabis options for the upcoming edible and infused product launch in Canada.
While the company plans to launch its future products under specific brands, in March the firm confirmed the debut of CALIBER, a recreational premium cannabis brand marketing smokable products, from its subsidiary, Toronto Herbal Remedies.
Sproutly’s promise attracted investors during the quarter, with a 123.08 percent increase in value.
The TSXV’s top cannabis stocks
Khiron is a unique cannabis play in the Canadian public markets. The company operates in Colombia and pursues other business activities in the Latin American market.
Khiron’s shares rose 150.32 percent to make it the top gainer on the TSXV.
2. 48North (TSXV:NRTH)
48North is focused on putting forward novel cannabis products that stand out and on bringing its brands to the Canadian market.
Like Heritage on the Canadian Securities Exchange (CSE), 48North was also added to the Horizons Marijuana Life Sciences ETF.
48North continued a steady pace that led to a 127.87 percent increase to its share price for the first quarter of 2019.
Harvest One holds a portfolio of cannabis assets and works on the development of products for the health and wellness sector.
During the quarter, Harvest One upgraded its OTC Market Group listing to the OTCQX Best Market exchange.
As part of its Q2 2019 financial update to shareholders, the company announced that its subsidiary Satipharm had officially launched the sales of reformulated cannabidiol capsules online in Europe.
Thanks to its performance this past quarter, Harvest One attracted the eyes of investors, increasing in value by 120.93 percent.
The TSX’s top cannabis stocks
1. The Green Organic Dutchman (TGOD) (TSX:TGOD,OTCQX:TGODF)
TGOD is an organic marijuana licensed producer (LP) in Canada with a global focus for its products.
In February, the firm secured its first supply agreement with a Canadian province thanks to a deal with Ontario, meaning its products can be sold to Ontario consumers.
As part of its 2018 year end results, the company reported C$263.5 million in cash and restricted cash for the expansion of its facilities and expansion in international markets.
TGOD has secured the biggest returns so far in 2019 with a rise in value of 80.52 percent.
2. Aurora Cannabis (TSX:ACB,NYSE:ACB)
One of the leading Canadian LPs of cannabis took in a solid quarter of growth. In particular, the company continued its expansion plans on a global scale, notably in the European medical market.
The producer announced revenues of C$54.2 million during its Q2 2019 period, driven mostly by the opening of the adult use market in Canada.
A strong quarter boosted Aurora shares with a 70.52 percent increase.
3. HEXO (TSX:HEXO,NYSEAMERICAN:HEXO)
HEXO finally completed a coveted listing on a US exchange when it reached the NYSE American exchange on January 23.
HEXO was able to attract the attention of the market and secured a rise in value for the quarter of 69.48 percent.
Want more details? Check out these articles for more INNdepth coverage.
- Top Canadian Cannabis Stocks Year-to-date
- Top Canadian Cannabis Stocks Year-to-date – Q2 2019
- Cannabis Investment: Canadian Cannabis Stocks
- Marijuana Stocks to Watch in 2019
- Here’s Why 2019 Top Marijuana Stocks Will Be Different
- Marijuana Stocks by Industry
Want an overview of investing in cannabis stocks? Check Investing in the Cannabis Industry
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Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Heritage Cannabis Holdings, Harvest One Cannabis and Khiron Life Sciences are clients of the Investing News Network. This article is not paid-for content.