Value Stocks: 5 of the Cheapest Canadian Picks for September

If you’re a value investor that’s looking to buy a cheap Canadian stock, these five companies offer the most attractive valuations as we begin September.

While stock markets have been consistently setting new highs, there are still plenty of high-quality Canadian value stocks to consider today.

And as you’ll see from this list, there are businesses from several different industries that continue to offer some significant value.

So, if you’re a savvy investor looking to get the most bang for your buck, here are the five best Canadian value stocks to buy in September.

A top real estate stock

If you like the real estate sector and are looking for a top Canadian value stock to buy, there are a few to consider. One of the best, though, has to be First Capital REIT (TSX: FCR.UN).

First Capital is a mixed-use REIT with some of the best properties in Canada. The company has an impressive portfolio and several high-quality tenants giving its retail assets a degree of resiliency.

Unfortunately, it was still impacted by the pandemic. However, it has recovered well and today offers investors some significant value.

And not only does it have recovery potential, but the stock has plenty of long-term growth potential.

So, if you’re looking to buy a stock that’s cheap in September, First Capital is a top choice.

One of the best Canadian value stocks

One of the cheapest stocks in Canada for some time now has been Corus Entertainment (TSX: CJR.B). And while the stock has been rallying lately, up more than 10% since July 27, it still offers an incredible entry point for investors today.

The TV media stock has recovered well from the pandemic, and its financial position has been improved massively over the last few years.

In addition to the fact that it pays a dividend that currently yields just under 4%, the stock also trades at a forward price-to-earnings (P/E) ratio of just 7.2 times.

So, you can buy the Canadian value stock today and wait for it to recover, all while collecting the attractive dividend payments.

An extremely cheap gold stock

There may not be a better industry to find value stocks today than in gold. And while several stocks offer incredible value, one of the cheapest stocks has to be B2Gold (TSX: BTO)(NYSE:BTG).

B2Gold is a low-cost gold miner that’s been growing its production consistently for years. However, as gold prices have fallen, B2Gold stock has sold off.

It is still considerably profitable at these gold prices, though, making it one of the best Canadian value stocks to buy now.

In addition to having low-cost operations, B2Gold has very little debt and earns some considerable free cash flow on its operations.

And it’s another stock paying an attractive dividend that investors can collect while they wait for the stock to recover to full value.

As of Thursday’s close, B2Gold stock offered investors an impressive yield of 4.1%. So, if you’re looking for a cheap gold stock to buy, B2Gold is easily one of the best opportunities for investors today.

A top restaurant stock to buy now

If you’re looking to buy a cheap recovery stock, I’d recommend you consider Boston Pizza Royalties (TSX: BPF.UN). There are a few Canadian value stocks that have yet to recover from the pandemic, and each comes with its own risk.

Boston Pizza looks like the best investment, though, as it has the ability to recover much quicker than some of the other businesses that are still being affected.

Right now, the company is earning just about 60% of what it was before the pandemic. So, there is considerable room for the fund to recover.

And because Boston Pizza aims to pay out essentially all the money it earns, investors could be in for some major capital gains as well as dividend increases as it recovers.

A high-potential Canadian value stock

Lastly, High Liner Foods (TSX: HLF) is another stock offering incredible value at these prices. The frozen seafood company has improved its margins noticeably over the last few quarters, which has helped profitability to grow considerably.

Today the stock trades at a forward P/E ratio of just 10.1 times, despite the fact that the pandemic has hardly impacted it.

So, if you’re looking for a top Canadian value stock that can still grow for years, High Liner Foods is one of the best to consider in this environment.

Fool contributor Daniel Da Costa owns shares of B2GOLD CORP., BOSTON PIZZA ROYALTIES INCOME FUND, and CORUS ENTERTAINMENT INC., CL.B, NV. The Motley Fool recommends First Capital Real Estate Investment Trust.

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