Canadian Undervalued Small Caps

ADENTRA

Market Cap: CA$671.6m

Engages in the wholesale distribution of architectural building products to the residential, repair and remodel, and commercial construction markets in Canada and the United States.

Fortuna Mining

Market Cap: CA$2.6b

Engages in the precious and base metal mining and related activities in Argentina, Burkina Faso, Côte d’Ivoire, Mexico, Peru, and Senegal.

Bird Construction

Market Cap: CA$1.3b

Provides construction services in Canada.

Computer Modelling Group

Market Cap: CA$657.0m

A software and consulting technology company, engages in the development and licensing of reservoir simulation and seismic interpretation software and related services.

Alvopetro Energy

Market Cap: CA$196.6m

Engages in the acquisition, exploration, development, and production of hydrocarbons in Brazil and Canada.

Orezone Gold

Market Cap: CA$600.7m

Engages in the mining, exploration, and development of gold properties.

Pollard Banknote

Market Cap: CA$549.5m

Manufactures and sells lottery and charitable gaming products and solutions in the United States, Canada, and internationally.

ShaMaran Petroleum

Market Cap: CA$529.4m

Engages in the oil and gas exploration and production.

Badger Infrastructure Solutions

Market Cap: CA$1.4b

Provides non-destructive excavating and related services in Canada and the United States.

Firan Technology Group

Market Cap: CA$225.3m

Manufactures and sells aerospace and defense electronic products and subsystems in Canada, the United States, and China.

Propel Holdings

Market Cap: CA$1.3b

Operates as a financial technology company.

Savaria

Market Cap: CA$1.3b

Provides accessibility solutions for the elderly and physically challenged people in Canada, the United States, Europe, and internationally.

Russel Metals

Market Cap: CA$2.3b

Engages in the distribution of steel and other metal products in Canada and the United States.

Silvercorp Metals

Market Cap: CA$1.1b

Engages in the acquisition, exploration, development, and mining of mineral properties.

First National Financial

Market Cap: CA$2.2b

First National Financial Corporation, together with its subsidiaries, originates, underwrites, and services residential and commercial mortgages in Canada.

Green Thumb Industries

Market Cap: CA$2.0b

Manufactures, distributes, markets, and sells of cannabis products for medical and adult-use in the United States.

Magellan Aerospace

Market Cap: CA$807.9m

Through its subsidiaries, engineers and manufactures aeroengine and aerostructure components for aerospace markets in Canada, the United States, and Europe.

Groupe Dynamite

Market Cap: CA$1.5b

Designs, distributes, and sells women’s apparel in the market of Canada and the United States of America.

Trisura Group

Market Cap: CA$1.8b

A specialty insurance company, operates in the surety, risk solutions, corporate insurance, and reinsurance businesses in Canada, the United States, and internationally.

Docebo

Market Cap: CA$1.4b

Develops and provides a learning management platform for training in North America and internationally.

Wesdome Gold Mines

Market Cap: CA$2.7b

Wesdome Gold Mines Ltd. mines, develops, and explores for gold and silver deposits in Canada.

Kolibri Global Energy

Market Cap: CA$298.1m

Engages in the exploration and exploitation of oil, gas, and clean and sustainable energy reserves in the United States.