Canadian Undervalued based on future growth

Whitecap Resources

Market Cap: CA$11.6b

Engages in the acquisition, development, and production of petroleum and natural gas properties and assets in Western Canada.

Eldorado Gold

Market Cap: CA$6.0b

Engages in the mining, exploration, development, and sale of mineral products primarily in Turkey, Canada, and Greece.

New Gold

Market Cap: CA$5.3b

An intermediate gold mining company, engages in the development and operation of mineral properties in Canada.

OceanaGold

Market Cap: CA$4.9b

A gold and copper producer, engages in exploration, development, and operation of mineral properties in the United States, the Philippines, and New Zealand.

China Gold International Resources

Market Cap: CA$4.9b

A gold and base metal mining company, acquires, explores, develops, and mines mineral resources in the People’s Republic of China and Canada.

Torex Gold Resources

Market Cap: CA$4.2b

Operates as an intermediate gold producer.

SSR Mining

Market Cap: CA$3.5b

Engages in the acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina.

Maple Leaf Foods

Market Cap: CA$3.5b

Produces food products in Canada, the United States, Japan, China, and internationally.

International Petroleum

Market Cap: CA$2.6b

Explores for, develops, and produces oil and gas.

goeasy

Market Cap: CA$2.5b

Provides non-prime leasing and lending services under the easyhome, easyfinancial, and LendCare brands to consumers in Canada.

Trisura Group

Market Cap: CA$1.9b

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

Aris Mining

Market Cap: CA$1.6b

Engages in the acquisition, exploration, development, and operation of gold properties in Canada, Colombia, and Guyana.

Green Thumb Industries

Market Cap: CA$1.6b

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

Primaris Real Estate Investment Trust

Market Cap: CA$1.6b

Primaris is Canada’s only enclosed shopping centre focused REIT, with ownership interests primarily in leading enclosed shopping centres located in growing mid-sized markets.

Bird Construction

Market Cap: CA$1.5b

Provides construction services in Canada.

Lassonde Industries

Market Cap: CA$1.5b

Develops, manufactures, and markets a range of ready-to-drink beverages, fruit-based snacks, frozen juice concentrates, and specialty food products in Canada, the United States, and internationally.

Propel Holdings

Market Cap: CA$1.3b

Operates as a financial technology company.

Silvercorp Metals

Market Cap: CA$1.3b

Acquires, explores, develops, and mines mineral properties.

Sagicor Financial

Market Cap: CA$1.2b

Provides insurance products and related financial services in Jamaica, Barbados, Trinidad, Tobago, other Caribbean region, and the United States.

Alphamin Resources

Market Cap: CA$1.1b

Engages in the production and sale of tin concentrate.

Magellan Aerospace

Market Cap: CA$1.0b

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

Doman Building Materials Group

Market Cap: CA$756.4m

Through its subsidiaries, engages in the wholesale distribution of building materials and home renovation products in the United States and Canada.

MCAN Mortgage

Market Cap: CA$752.3m

Operates as a loan and mortgage investment corporation in Canada.

Orezone Gold

Market Cap: CA$743.9m

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

North American Construction Group

Market Cap: CA$717.5m

Provides mining and heavy civil construction services to customers in the resource development and industrial construction sectors in Australia, Canada, and the United States.

Mattr

Market Cap: CA$706.2m

Operates as a materials technology company that serves the transportation, communication, water management, and energy and electrification markets in Canada, the United States, Latin America, Europe, the Middle East, Africa, and the Asia Pacific.

Stingray Group

Market Cap: CA$663.5m

Operates as a music, media, and technology company in Canada, the United States, and internationally.

ADENTRA

Market Cap: CA$656.1m

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.

Cogeco

Market Cap: CA$612.4m

Operates in the communications and media sectors in Canada and the United States.

Pollard Banknote

Market Cap: CA$604.4m

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

ShaMaran Petroleum

Market Cap: CA$516.4m

Engages in the oil and gas exploration and production.

VersaBank

Market Cap: CA$484.5m

Provides various banking products and services in Canada and the United States.

Total Energy Services

Market Cap: CA$411.8m

Operates as an energy services company primarily in Canada, the United States, Australia, and internationally.

Andean Precious Metals

Market Cap: CA$403.7m

Engages in the acquisition, exploration, development, and processing of mineral resource properties in the United States.

PHX Energy Services

Market Cap: CA$387.2m

Provides horizontal and directional drilling services, rents performance drilling motors, and sells motor equipment and parts to oil and natural gas exploration and development companies in Canada, the United States, Albania, the Middle East regions, and internationally.

Magna Mining

Market Cap: CA$362.4m

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