Undervalued Stocks in the S&P/TSX Composite Index May 2025

May 19, 2025

May 2025

BIP.UN:TSE

S&P/TSX Composite Index

The S&P/TSX Composite Index is a Canadian index that represents roughly 70% of the total market capitalization on the Toronto Stock Exchange, with about 250 companies included in it.

Our Valuation

A stock is considered undervalued if it trades at a discount to our valuation. To determine a stock’s intrinsic value, we developed an algorithm that uses 6 valuation models to determine the value of a company.* To learn more about stockcalc’s valuation methods, click here.

Undervalued stocks in the S&P/TSX Composite Index

Stocks in this category are held primarily for potential income and capital appreciation.

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Symbol	Name	Close Price ($)	Valuation ($)	Difference (%)	Average Vol (30D)	Market Cap ($M)	Yield (%)	P/E Ratio
BIP.UN	Brookfield Infr Partners	46.01	70.00	52.14	419367	21252	4.99	0.0
RCI.B	Rogers Communications	35.71	47.25	32.32	1417234	19248	5.60	11.0
AQN	Algonquin Power	7.81	10.18	30.33	1880350	6019	5.40	20.0
ABX	Barrick Mining	24.94	30.25	21.29	3883174	43022	2.24	13.5
MG	Magna International	51.28	62.15	21.20	2194292	14461	5.22	9.1
CVE	Cenovus Energy	19.18	22.67	18.22	5439858	35124	4.46	12.6
CAR.UN	CAPREIT	43.01	50.43	17.25	368116	7010	3.49	60.8
BCE	BCE	30.11	34.43	14.34	3644896	27710	13.25	71.7
OTEX	Open Text	39.34	43.80	11.35	665692	10379	3.70	11.5
NTR	Nutrien	80.93	89.27	10.31	1557970	39618	3.75	54.6

All data provided as at market close May 15, 2025.

Company Details

Brookfield Infr Partners

BIP.UN:TSX

Close Price

46.01

Our Valuation

70.00

% Difference

52.14

Market Cap ($M)

21252

P/E Ratio

0.0

Brookfield Infrastructure Partners LP is a Bermuda exempted limited partnership that owns and operates quality, long-life assets that generate stable cash flows, by virtue of barriers to entry or other characteristics that tend to appreciate in value over time. It focuses on acquiring infrastructure assets that have low maintenance capital costs and high barriers to entry. The company's segments consist of Utilities, Transport, Midstream, and Data.

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Rogers Communications

RCI.B:TSX

Close Price

35.71

Our Valuation

47.25

% Difference

32.32

Market Cap ($M)

19248

P/E Ratio

11.0

Rogers Communications is the largest wireless service provider in Canada, with its more than 11 million subscribers equating to one third of the total Canadian market. Its wireless business accounted for more than half of total revenue and has increasingly been providing a bigger portion of total company sales over the last several years.

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Algonquin Power

AQN:TSX

Close Price

7.81

Our Valuation

10.18

% Difference

30.33

Market Cap ($M)

6019

P/E Ratio

20.0

Algonquin Power & Utilities Corp is a Canada-based diversified international generation, transmission, and distribution company.

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Barrick Mining

ABX:TSX

Close Price

24.94

Our Valuation

30.25

% Difference

21.29

Market Cap ($M)

43022

P/E Ratio

13.5

Based in Toronto, Barrick Gold is one of the world's largest gold miners. In 2024, the firm produced nearly 3.9 million attributable ounces of gold and about 430 million pounds of copper. At year-end 2024, Barrick had about two decades of gold reserves along with significant copper reserves. After buying Randgold in 2019 and combining its Nevada mines in a joint venture with competitor Newmont later that year, it operates mines in 19 countries in the Americas, Africa, the Middle East, and Asia.

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Magna International

MG:TSX

Close Price

51.28

Our Valuation

62.15

% Difference

21.20

Market Cap ($M)

14461

P/E Ratio

9.1

Magna International prides itself on an entrepreneurial culture and a corporate constitution that outlines the distribution of profits to various stakeholders. This automotive supplier's product groups include exteriors, interiors, seating, roof systems, body and chassis, powertrain, vision and electronic systems, closure systems, electric vehicle systems, tooling and engineering, and contract vehicle assembly. In 2024, 48% of Magna's USD 42.

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Cenovus Energy

CVE:TSX

Close Price

19.18

Our Valuation

22.67

% Difference

18.22

Market Cap ($M)

35124

P/E Ratio

12.6

Cenovus Energy Inc is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 786 thousand barrels of oil equivalent per day in 2022.

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CAPREIT

CAR.UN:TSX

Close Price

43.01

Our Valuation

50.43

% Difference

17.25

Market Cap ($M)

7010

P/E Ratio

60.8

Canadian Apartment Properties Real Estate Investment Trust, or CAPREIT, is a real estate investment trust. It owns and manages interests in multi-unit residential rental properties, including mainly apartments and townhomes, located in Canada, the Netherlands, Germany, and Belgium. The company operates in the following reportable segments; Canada and Europe.

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BCE

BCE:TSX

Close Price

30.11

Our Valuation

34.43

% Difference

14.34

Market Cap ($M)

27710

P/E Ratio

71.7

BCE provides wireless, broadband, television, and landline phone services in Canada. It is one of the Big Three national wireless carriers, with over 10 million customers constituting about 30% of the market. It is also the incumbent local exchange carrier—the legacy telephone provider—throughout much of the eastern half of Canada, including in the most populous Canadian provinces: Ontario and Quebec. BCE has a media segment that holds television, radio, and digital media assets.

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Open Text

OTEX:TSX

Close Price

39.34

Our Valuation

43.80

% Difference

11.35

Market Cap ($M)

10379

P/E Ratio

11.5

Open Text Corp is engaged in the design, development, marketing, and sale of Information Management software and solutions. Its software allows clients to archive, aggregate, retrieve, and search unstructured information (such as documents, e-mail, and presentations). Its platform and services provide secure and scalable solutions for enterprises, SMBs, governments, and consumers around the world.

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Nutrien

NTR:TSX

Close Price

80.93

Our Valuation

89.27

% Difference

10.31

Market Cap ($M)

39618

P/E Ratio

54.6

Created in 2018 as a result of the merger between PotashCorp and Agrium, Nutrien is the world's largest fertilizer producer by capacity. Nutrien produces the three main crop nutrients—nitrogen, potash, and phosphate—although its main focus is potash, where it is the global leader in installed capacity with a roughly 20% market share.

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