TSX Stocks That May Be Priced Below Their Estimated Value In October 2026

As the Canadian market continues to ride the wave of a resilient bull market, driven by robust economic growth and improving commodity prices, investors are keenly observing how this cycle compares to past trends. With questions about inflation, interest rates, and sustained economic expansion still looming large, finding stocks that may be undervalued can offer potential opportunities for those looking to navigate these complex conditions.

Top 10 Undervalued Stocks Based On Cash Flows In Canada

Name	Current Price	Fair Value (Est)	Discount (Est)
Suncor Energy (TSX:SU)	CA$103.04	CA$190.48	45.9%
SSR Mining (TSX:SSRM)	CA$50.64	CA$98.53	48.6%
Savaria (TSX:SIS)	CA$28.95	CA$49.76	41.8%
Pan American Silver (TSX:PAAS)	CA$66.05	CA$121.62	45.7%
OceanaGold (TSX:OGC)	CA$39.36	CA$68.53	42.6%
Hudbay Minerals (TSX:HBM)	CA$37.24	CA$68.88	45.9%
Groupe Dynamite (TSX:GRGD)	CA$60.26	CA$106.71	43.5%
Chemtrade Logistics Income Fund (TSX:CHE.UN)	CA$14.68	CA$28.29	48.1%
Canadian Natural Resources (TSX:CNQ)	CA$70.80	CA$129.50	45.3%
AGF Management (TSX:AGF.B)	CA$15.10	CA$22.70	33.5%

Click here to see the full list of 12 stocks from our Undervalued TSX Stocks Based On Cash Flows screener.

Underneath we present a selection of stocks filtered out by our screen.

Magellan Aerospace (TSX:MAL)

Overview: Magellan Aerospace Corporation engineers and manufactures aeroengine and aerostructure components for aerospace markets in Canada, the United States, and Europe, with a market cap of CA$1.79 billion.

Operations: The company's revenue is primarily derived from its Aerospace segment, totaling CA$1.12 billion.

Estimated Discount To Fair Value: 15.7%

Magellan Aerospace is trading at CA$31.30, below its estimated future cash flow value of CA$37.11, indicating potential undervaluation based on cash flows. The company's earnings grew 57% last year and are forecast to grow significantly at 22.9% annually over the next three years, outpacing the Canadian market average. Recent inclusion in the S&P Global BMI Index and a contract to produce M-72 LAWs for Canada bolster its growth prospects and financial stability.

• Our growth report here indicates Magellan Aerospace may be poised for an improving outlook.
• Delve into the full analysis health report here for a deeper understanding of Magellan Aerospace.

Savaria (TSX:SIS)

Overview: Savaria Corporation offers accessibility solutions for the elderly and physically challenged across Canada, the United States, Europe, and internationally, with a market cap of CA$2.09 billion.

Operations: The company generates revenue from two main segments: Patient Care at CA$208.78 million and Accessibility (including Adapted Vehicles) at CA$739.10 million.

Estimated Discount To Fair Value: 41.8%

Savaria, trading at CA$28.95, is undervalued based on future cash flow estimates of CA$49.76. Despite a moderate forecasted earnings growth of 10.48% annually, its revenue growth outpaces the Canadian market average. Recent financials show strong performance with net income rising to CA$25.2 million in Q2 2026 from CA$16.32 million a year earlier. A recent dividend increase reflects confidence in sustaining profitability while maintaining balance sheet flexibility amid significant insider selling concerns.

• Our earnings growth report unveils the potential for significant increases in Savaria's future results.
• Navigate through the intricacies of Savaria with our comprehensive financial health report here.

SSR Mining (TSX:SSRM)

Overview: SSR Mining Inc. is involved in the acquisition, exploration, and development of precious metal resource properties across the United States, Türkiye, Canada, and Argentina with a market cap of CA$10.33 billion.

Operations: The company's revenue segments include Puna at $570.33 million, Seabee at $162.06 million, Marigold at $619.61 million, and Cripple Creek & Victor Gold Mine (CC&V) at $581.15 million.

Estimated Discount To Fair Value: 48.6%

SSR Mining, trading at CA$50.64, is significantly undervalued with a future cash flow estimate of CA$98.53. Earnings are projected to grow 15.6% annually, outpacing the Canadian market's 11.6%. Recent developments include acquiring a 15% stake in the Dobbin Project for US$4 million and expanding its credit facility to US$600 million, enhancing financial flexibility for growth initiatives while maintaining operational control over new ventures through strategic partnerships.

• The analysis detailed in our SSR Mining growth report hints at robust future financial performance.
• Click here to discover the nuances of SSR Mining with our detailed financial health report.

Taking Advantage

• Click this link to deep-dive into the 12 companies within our Undervalued TSX Stocks Based On Cash Flows screener.
• Are any of these part of your asset mix? Tap into the analytical power of Simply Wall St's portfolio to get a 360-degree view on how they're shaping up.
• Unlock the power of informed investing with Simply Wall St, your free guide to navigating stock markets worldwide.

Seeking Other Investments?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
• Diversify your portfolio with solid dividend payers offering reliable income streams to weather potential market turbulence.
• Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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