After the rally we saw in stocks last year, most are now back to fair value. There certainly aren’t too many undervalued stocks to buy on the TSX today.

Of course, there are the latecomers like Air Canada, who has yet to recover from the pandemic. But at this point, you can’t even consider him undervalued when he’s lost so much money and continues to be badly hit.

Nonetheless, although most companies are at or near full value, there are still some that offer significant potential for investors.

Here are four of the top undervalued TSX stocks to buy today.

One of the best retail TSX stocks to buy today

The pandemic has affected many retailers, but some, especially those like Sleep Country Canada Fund (TSX: ZZZ), managed to perform better than expected.

With people spending more time at home, some retailers like Sleep Country have seen an unexpected tailwind over the past year. And because the company is so dominant and has made major acquisitions in recent years, like Endy, the online mattress company, it has performed extremely well throughout the pandemic.

Currently, Sleep Country is trading at a price / earnings (P / E) ratio of only 16 times. Additionally, its average analyst target price is above $ 37. That’s over 25% up for investors looking to buy this undervalued TSX stock today.

Plus, on top of everything else, it pays out a dividend that currently pays 2.6%.

Undervalued consumer staples stock trading

One of my favorite long term stocks, North West Company (TSX: NWC), is surprisingly one of the cheapest stocks in Canada.

Consumer Staples stocks are very defensive, so while they have been favorable over the past year as the economy reopens, it makes sense to see how other stocks rally more.

The Northwest, however, has an incredibly strong business and has only strengthened its position since the start of the pandemic.

Today, the stock is trading at just 12.9 times its trailing earnings and its dividend is earning around 4%. So if you are looking for an undervalued blue top TSX stock to buy today, North West is a great choice.

One of the best TSX stocks to buy today

Aecon Group (TSX: ARE) is another great stock that is trading low today. Aecon is a massive construction and infrastructure company, an industry that is expected to experience significant growth over the next several years.

Management noted in its recent earnings report that its backlog, recurring revenue, and opportunities to bid on new projects all remain at impressive levels.

Some uncertainty related to the pandemic has affected the company. However, as we emerge from the pandemic and the economy looks to recover, Aecon should see strong potential for business growth over the next several years.

Today, with all of its growth potential, Aecon is one of the most undervalued stocks on the TSX, with a P / E ratio of just 17.5 times. In addition, it even pays a dividend that pays around 3.8%.

A leading gold company undervalued

Finally, one of the main industries to find valuable stocks in recent months has been gold. that’s why Kinross Gold (TSX: K) (NYSE: KGC) is one of the top picks today.

Gold has started to rise again recently, so investors will want to consider these stocks soon. Kinross is one of the best, because besides being one of the best Canadians gold stocks, it is also one of the cheapest.

The company has impressive operations that are well diversified in countries like the United States, Brazil and West Africa, to name a few.

Kinross currently produces over two million ounces of gold per year and has several upcoming projects that could add significant growth over time.

Today, it trades at a final P / E ratio of just 7.4 times and even pays a dividend that pays 1.85%. So if you are looking for one of the best undervalued TSX stocks, Kinross and several other gold stocks are some of the best to buy today.

Fool contributor Daniel Da Costa owns shares of THE NORTH WEST COMPANY INC.