Canadian Diversified Financials Undervalued over 20% based on DCF

Senvest Capital

Market Cap: CA$981.0m

A privately owned hedge fund sponsor.

Queen's Road Capital Investment

Market Cap: CA$745.2m

A resource focused investment company, invests in privately held and publicly-traded resource companies.

Westaim

Market Cap: CA$735.7m

A private equity and venture capital firm specializing in direct and indirect investments through acquisitions, joint ventures, secondary investments both direct and indirect, fund of fund investments, and other arrangements.

Atrium Mortgage Investment

Market Cap: CA$579.6m

Provides financing solutions to the residential, multi-residential, and commercial real estate businesses in Canada.

Timbercreek Financial

Market Cap: CA$530.4m

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

Firm Capital Mortgage Investment

Market Cap: CA$444.5m

Through its mortgage banker, Firm Capital Corporation, provides residential home and commercial short-term bridge and conventional real estate financing services in Canada and the United States.

Currency Exchange International

Market Cap: CA$175.8m

Together with its subsidiary, Exchange Bank of Canada, provides foreign exchange technology and processing services in Canada and the United States.

Automotive Finco

Market Cap: CA$26.4m

A specialty finance company, focuses on the auto retail sector in Canada and internationally.

EonX Technologies

Market Cap: CA$22.1m

EonX Technologies Inc. enagges in the development and marketing a suite of financial technology products in Australia, the United States, and the United Arab Emirates.

Blockmate Ventures

Market Cap: CA$6.8m

Engages in the building of blockchain businesses.