Although Canadian markets took a breather last month, some TSX stocks have been on a roll almost throughout 2021. Here are three Canadian names that might continue their momentum in the near future.

Whitecap Resources

Energy stocks have been unstoppable this year. Their outperformance against broader markets speaks for itself. While the TSX Index has risen 26% in the past year, Canadian energy stocks at large have zoomed a remarkable 136% in the same period. One such TSX stock that has notably stood strong is Whitecap Resources (TSX:WCP). It is up more than 200% in the last 12 months.  

Interestingly, the energy sector will likely continue to shine despite the recent outperformance. We might see a sustained rally in stocks like Whitecap Resources as economies fully re-open and energy demand peaks.

Whitecap Resources reported $561 million in revenues for the latest reported quarter, a substantial 288% growth year over year. In addition, it reported $18.6 million in net profits in Q2 2021 compared to a $78 million loss in Q2 2020.

WCP investors could see a similar performance in the next few quarters, driven by increased production and rallying oil and gas prices. Whitecap increased its dividend recently, taking its annualized yield to a decent 2.6%.

Its strong balance sheet, stable monthly dividends, and rallying energy prices render it a strong bet for long-term investors.

Nuvei

Canada’s top growth stock Nuvei (TSX:NVEI) is down almost 15% since its 52-week high of $180 in mid-September. This could be an excellent opportunity for long-term investors.

Though Nuvei stock looks expensive from the valuation front, it offers immense long-term growth potential. It is a payment processing company that lets merchants transact in multiple markets and currencies with its unique integrated platform.

Nuvei has seen superior organic and inorganic growth this year. Higher contributions from the e-commerce segment and multiple strategic acquisitions sent the stock higher this year. Notably, company management has given bullish revenue guidance for the next few years.

NVEI stock has returned almost 200% in the last 12 months and 500% since its IPO in September 2020. It could continue to reward shareholders with its growing merchant base, scale, and topline expansion.

BRP

Canadian powersports vehicle maker stock BRP (TSX:DOO)(NASDAQ:DOOO) saw a decent recovery this year. It is up 54% so far in 2021, notably outperforming TSX stocks at large.

Consumer stocks took a terrible beating last year, which was followed by a massive recovery in 2021 in the hopes of re-openings. BRP saw a similar move due to an encouraging demand recovery and revenue growth as restrictions waned.

The company management has increased guidance a couple of times in the last few quarters. It expects normalized earnings growth of ~65% in the fiscal year 2022. The Ski-Doo and Sea-Doo maker BRP has a leadership position in the niche market.

Despite the recent rally, BRP stock looks undervalued, with its price-to-earnings ratio of 11 times. A large global presence, strong financial growth, and improving macroeconomic picture make a strong case for BRP.

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