5 Undervalued Canadian Stocks To Invest In

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In this piece, we will take a look at five undervalued Canadian stocks to invest in. If you want to understand the Canadian economy, head on over to 10 Undervalued Canadian Stocks To Invest In.

5. Algoma Steel Group Inc. (NASDAQ:ASTL)

Latest P/E Ratio: 5.55

Algoma Steel Group Inc. (NASDAQ:ASTL) is a steel manufacturer that sells its products to a variety of industries such as car manufacturing, rail manufacturing, and construction. The firm’s revenue and net income for its fiscal year 2023 fell significantly as it battled with falling steel prices and high inflation. The shares are rated Buy on average.

By the end of 2023’s first quarter, 31 of the 943 hedge funds part of Insider Monkey’s database had bought Algoma Steel Group Inc. (NASDAQ:ASTL)’s shares. The firm’s largest investor is Len Kipp and Xavier Majic’s Maple Rock Capital courtesy of a $52 million investment.

Follow Algoma Steel Group Inc. (NASDAQ:ASTL)


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