In this article, we will list the 5 Most Oversold Canadian Stocks to Invest In. Please visit 10 Most Oversold Canadian Stocks to Invest In if you would like to see the extended list and the methodology behind it.
5. Agnico Eagle Mines Limited (NYSE:AEM)
Relative Strength Index Reading: 34.21
Stock Upside Potential: 48.51%
Number of Hedge Fund Holders: 56
Agnico Eagle Mines Limited (NYSE:AEM) is one of the most oversold Canadian stocks to invest in. On April 30, Agnico Eagle Mines Limited (NYSE:AEM) delivered impressive first-quarter results characterized by record operating margins and production and costs tracked well with the plan.
Gold production in the quarter totaled 825,109 ounces, at approximately 24% of the midpoint of the full year production guidance. While the company realized $4,861 per ounce of gold prices in the quarter, it ended with record operating margins and adjusted net income. Net income totaled $1,695 or $3.39 per share, and a record adjusted net income of $1,706 or $3.41 a share. Revenue in the quarter totaled $4.1 billion, below the $4.12 billion expected.
During the quarter, Agnico Eagle Mines Limited increased its cash balance by $246 million to $3.11 billion. For the full year, Agnico Eagle Mines is on course to produce 3.3 to 3.5 million ounces, with production weighted approximately 485 in the first half and 52% in the second half.
Agnico Eagle Mines Limited (NYSE:AEM) is a senior Canadian-based gold mining company, ranking as the world’s second-largest gold producer, with operations in Canada, Australia, Finland, and Mexico. Founded in 1957, the company focuses on exploring, developing, and producing gold, with additional production of silver, zinc, copper, and lead.
4. FirstService Corporation (NASDAQ:FSV)
Relative Strength Index Reading: 30.13
Stock Upside Potential: 56.42%
Number of Hedge Fund Holders: 33
FirstService Corporation (NASDAQ:FSV) is one of the most oversold Canadian stocks. On April 27, Stifel analysts reaffirmed a Buy rating on FirstService Corporation (NASDAQ:FSV) and reduced the price target to $200 from $215.
The bullish stance follows the company’s strong first quarter 2026 results. Adjusted EBITDA reached $105.7 million, above consensus estimates of $103.8 million. Despite this, the price target was cut due to the underperformance of home improvement brands, which saw a sharp decline in demand.
In addition, Stifel remains wary of the roofing segment, which is under pressure amid weak commercial construction activity. However, bid activity in the segment is showing signs of improvement. The restoration segment is also expected to return to growth in the second half of the year, which should help FirstService Corporation achieve mid-single-digit growth.
The research firm also expects the company to receive a significant boost from acquisitions and short-term related restoration revenues.
FirstService Corporation (NASDAQ:FSV) leads North America in property services, operating through two divisions: FirstService Residential (condo and HOA management) and FirstService Brands (franchise and company-owned services like California Closets, CertaPro Painters, and Paul Davis Restoration).
3. Eldorado Gold Corporation (NYSE:EGO)
Relative Strength Index Reading: 34.31
Stock Upside Potential: 68.39%
Number of Hedge Fund Holders: 22
Eldorado Gold Corporation (NYSE:EGO) is one of the most Oversold Canadian stocks to invest in. On April 30, Eldorado Gold Corporation (NYSE:EGO) delivered impressive first-quarter results, capitalizing on higher gold prices.
Gold production in the quarter totaled 100,358 ounces, and the company sold 100,619 ounces at an average realized price of $4,891. Production costs in the quarter totaled $188.2 million, as capital expenditures totaled $318 million. Eldorado Gold Corporation has reiterated its 2026 annual production guidance of 490,000 and 590,000 ounces of gold.
Revenue in the first quarter totaled $532.4 million, resulting in net cash generated from operating activities of $141.4 million. Adjusted net earnings attributable to shareholders totaled $188.2 million or $0.95 earnings per share. During the quarter, the company completed the acquisition of Foran Mining Corporation. With the acquisition, the company has added McIlvenna Bay, a high-quality, long-life asset in a premier mining jurisdiction. The asset provides exposure to high-quality multi-decade Canadian copper, zinc, gold, and silver assets.
Eldorado Gold Corporation is a Canadian-based mid-tier mining company that explores, develops, and operates high-quality gold and base metal (copper, silver, lead, zinc) properties. With over 30 years of experience, it operates mines primarily in Turkey, Canada, and Greece, focusing on producing gold bullion and concentrates.
2. Orla Mining Ltd. (NYSEAMERICAN:ORLA)
Relative Strength Index Reading: 33.76
Stock Upside Potential: 77.87%
Number of Hedge Fund Holders: 25
Orla Mining Ltd (NYSEAMERICAN:ORLA) is one of the most oversold Canadian stocks to invest in. On April 13, Orla Mining Ltd (NYSEAMERICAN:ORLA) management reiterated that they are on track to meet full-year consolidated gold production of between 340,000 and 360,000 ounces.
The sentiments follow an impressive start to 2026, with the company providing an updated feasibility study for the South railroad project. It has also completed the Preliminary Economic Assessment (PEA) for the Camino Rojo underground project, secured permits for the open pit expansion, and reported exploration results in Canada. In the quarter, the company produced 81,206 ounces of gold. It also capitalized on the higher gold prices by selling 81,540 ounces.
Musselwhite Operations produced 333,495 tons of ore and processed 332,822 tons at a mill head grade of 6.29 g/t gold. On the other hand, Camino Rojo operations produced over 2.2 million tons of ore and nearly 2 million tons of waste. Orla Mining exited the quarter with $427.3 million in cash and $331.3 million in debt.
Orla Mining Ltd. (NYSEAMERICAN:ORLA) is a Canada-based, mid-tier gold producer focused on acquiring, exploring, developing, and operating mineral properties in North and South America. The company primarily operates the Camino Rojo Oxide Gold Mine in Mexico and the Musselwhite Mine in Canada, focusing on gold and silver extraction.
1. TRX Gold Corporation (NYSEAMERICAN:TRX)
Relative Strength Index Reading: 34.23
Stock Upside Potential: 106.14%
Number of Hedge Fund Holders: 4
TRX Gold Corporation (NYSEAMERICAN:TRX) is one of the most oversold Canadian stocks to invest in. On April 8, TRX Gold Corporation (NYSEAMERICAN:TRX) announced topline test results at its Buckreef Gold project in Tanzania. The company also plans to expand its processing plant at the project.
The expansion push comes as the company achieved solid recovery rates of 89%-92% at the project, exceeding the 88% rate assumed in the May 2025 Preliminary Economic Assessment. The solid recovery rates have prompted the company to specify a semi-autogenous grind/Ball mill combination processing 3,500+ tonnes per day. The company’s existing 2,000 tpd processing plant is poised for significant upgrades and will continue operating alongside a new 3,500+ tpd SAG mill processing plant.
The solid recovery rates and expansion plans align with the company’s record second-quarter fiscal 2026 results, with 7,453 ounces of gold. At an average realized price of $4,655 per ounce, TRX Gold ended up generating $34.1 million in revenues, gross profit of $21.1 million, and adjusted EBITDA of $20.2 million.
TRX Gold Corporation (NYSEAMERICAN:TRX) is a junior gold producer focused on exploring, developing, and operating the Buckreef Gold Project in Tanzania. It operates a high-margin, expanding gold mine in partnership with STAMICO. The company is currently scaling up production, upgrading plant capacity, and exploring ways to increase its mineral resource base in the Geita District.
While we acknowledge the potential of TRX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TRX and that has 100x upside potential, check out our report about the cheapest AI stock.
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