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The Bank of Canada held its key overnight rate steady at 5% this month for the fourth consecutive time. Investors want the central bank to soon ease its restrictive monetary policy to create a tailwind for stocks.
However, even without having cut rates yet, Headwater Exploration (TSX:HWX) and Black Diamond Group (TSX:BDI) are buying opportunities. Both stocks are set for explosive growth in five years and offer a chance to double your money.
Meteoric price growth
Historical data shows that Headwater investors more than doubled their money in five years. As of this writing, the energy stock trades at $6.46 per share (+3.36 year to date), 797% higher than $0.72 five years ago. Current investors also partake in the lucrative 6.3% dividend.
The $1.5 billion oil and gas exploration and development company operates in Marten Hills, Alberta and McCully Field, New Brunswick. Headwater produces petroleum and…
