Canadian Undervalued based on future growth

Endeavour Mining

Market Cap: CA$18.3b

Operates as a gold mining company in West Africa.

Eldorado Gold

Market Cap: CA$9.0b

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

Artemis Gold

Market Cap: CA$7.8b

Engages in the identification, acquisition, and development of gold properties in Canada.

B2Gold

Market Cap: CA$7.6b

Operates as a gold producer company in Canada.

SSR Mining

Market Cap: CA$6.8b

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

K92 Mining

Market Cap: CA$5.5b

Engages in the exploration and development of mineral deposits in Papua New Guinea.

Torex Gold Resources

Market Cap: CA$5.4b

A mineral exploration company, engages in the acquisition, exploration, and development of mineral properties in Mexico and the United States.

EQB

Market Cap: CA$4.0b

Through its subsidiary, Equitable Bank, provides personal and commercial banking services to retail and commercial customers in Canada.

Fortuna Mining

Market Cap: CA$3.9b

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

Wesdome Gold Mines

Market Cap: CA$3.3b

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

Bird Construction

Market Cap: CA$2.0b

Provides construction services in Canada.

Advantage Energy

Market Cap: CA$2.0b

Engages in the acquisition, exploitation, development, and production natural gas, crude oil, and natural gas liquids (NGLs) in the Province of Alberta, Canada.

Labrador Iron Ore Royalty

Market Cap: CA$1.8b

Through its subsidiary, Hollinger-Hanna Limited, holds a 15.10% equity interest in Iron Ore Company of Canada that produces and processes iron ores in Canada.

Laurentian Bank of Canada

Market Cap: CA$1.8b

Provides various financial services to personal, commercial, and institutional customers in Canada and the United States.

Hemlo Mining

Market Cap: CA$1.8b

Operates as a gold production company.

Sagicor Financial

Market Cap: CA$1.3b

Provides various financial services to individuals and corporations in Canada, the United States, Jamaica, and the rest of the Caribbean.

Orezone Gold

Market Cap: CA$1.3b

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

Cascades

Market Cap: CA$1.2b

Produces, converts, and markets packaging and tissue products in Canada and the United States.

Stingray Group

Market Cap: CA$992.1m

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

Alaris Equity Partners Income Trust

Market Cap: CA$939.9m

A private equity firm specializing in management buyouts, growth capital, lower & middle market, later stage, industry consolidation, growth capital, and mature investments.

MCAN Mortgage

Market Cap: CA$911.1m

Operates as a loan and mortgage investment corporation in Canada.

Cogeco

Market Cap: CA$721.6m

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

Propel Holdings

Market Cap: CA$714.5m

Operates as a financial technology company.

Logan Energy

Market Cap: CA$677.7m

Engages in the exploration, development, and production of crude oil and natural gas properties.

Martinrea International

Market Cap: CA$642.4m

Engages in the design, development, manufacture, and sale of engineered, value-added lightweight structures, and propulsion systems for the automotive sector in North America, Europe, and internationally.

Calfrac Well Services

Market Cap: CA$637.2m

Provides specialized oilfield services in Canada, the United States, and Argentina.

VersaBank

Market Cap: CA$612.2m

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

Timbercreek Financial

Market Cap: CA$557.8m

Provides shorter-duration structured financing solutions to commercial real estate investors in Canada.

North American Construction Group

Market Cap: CA$552.3m

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$544.2m

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

Pollard Banknote

Market Cap: CA$484.8m

Engages in the manufacture and sale of lottery and charitable gaming products and solutions in the United States, Canada, and internationally.

AutoCanada

Market Cap: CA$438.5m

Through its subsidiaries, operates franchised automobile dealerships and related business.

Richards Group

Market Cap: CA$309.5m

Designs, manufactures, and distributes packaging containers and healthcare supplies and products in North America.

DeFi Technologies

Market Cap: CA$308.7m

A technology company, develops exchange traded products that synthetically track the value of a single DeFi protocol or a basket of protocols in Canada.

ADF Group

Market Cap: CA$271.5m

Engages in the design and engineering of connections including industrial coatings in Canada and the United States.

Foraco International

Market Cap: CA$249.0m

Provides drilling services in North America, South America, the Asia Pacific, the Middle East, Africa, and Europe.