2 Dirt-Cheap Canadian Stocks to Buy Today

The S&P/TSX Composite Index shed 144 points on June 29. Canadian investors are facing a challenging
environment as the TSX entered an official bear market in the middle of June. In recent history, this has
proven to be a great time to snatch up stocks at a discount. Today, I want to look at two Canadian stocks
that look nicely discounted right now.

Russel Metals (TSX:RUS) is a Toronto-based metal distribution company. Metals prices received a big
boost during the commodity boom in 2021 and early 2022. However, this stock has suffered as these
prices leveled off and then corrected. Its shares have plunged 22% in 2022.

This company released its first quarter 2022 results on May 3. It delivered record revenues of $1.33
billion and EBITDA of $153 million – up from $129 million in the previous year. Russel Metals currently
possesses a very favourable price-to-earnings ratio of 3.6. It offers a quarterly dividend of $0.38 per
share, representing a strong 5.9% yield.

Stella-Jones (TSX:SJ) is a Montreal-based company that produces and markets pressure-treated wood
products in Canada and the United States. Shares of Stella-Jones have dropped 19% in the year-to-date
period.

In Q1 2022, the company delivered sales growth of 4% to $651 million. Meanwhile, EBITDA was
reported at $88 million – down from $99 million in the previous year. This Canadian stock also possesses
an attractive P/E ratio of 9.7. It offers a quarterly dividend of $0.20 per share. That represents a 2.4%
yield.