The Gross Domestic Product (GDP) in Canada declined 0.1% in the second quarter of 2011 over the previous quarter. Canada’s labor market has 34.3 million people of which 7.1% are unemployed. The inflation rate was 3.2% in September 2011 and interest rate was last reported at 1%. Exports amount to more than 45% of its GDP. Canada is one of the few developed nations that are a net exporter of energy. Canada also exports motor vehicles and parts, industrial machinery, aircraft, telecommunications equipment and electronics. The U.S. is by far its largest trading partner, accounting for about 79% of exports. The government has a debt level of 84% of GDP and the government's budget has a little deficit of 2.1% of GDP. Reason enough to look for investment alternatives outside the United States.
I screened Canadian stocks listed in America. Such companies are American Depositary Receipts (ADRs). 177 companies are listed in America of which 32 have a dividend yield of more than 2% and 19 yielding over 4%. In order to discover real bargains, I observed only stocks with low forward P/E (ratio less than 15) and price to sales ratios (ratio less than 1). Here are the best stocks from my screening results with cheap price ratios as well as a dividend yield of more than 2%:

1. Sun Life Financial (SLF) is acting within the life insurance industry. The company has a market capitalization of $13.8 billion, generates revenues in an amount of $21.0 billion and a net income of $1.8 billion. It follows P/E ratio is 7.8 and forward P/E ratio 7.8. P/S ratio is 0.7 and P/B ratio 0.9. Dividend Yield: 6.2%.
2. The Cash Store Financial Services (CSFS) is acting within the credit services industry. The company has a market capitalization of $165.4 million, generates revenues in an amount of $190.2 million and a net income of $24.1 million. It follows P/E ratio is 11.3 and forward P/E ratio 8.1. P/S ratio is 0.9 and P/B ratio 1.9. Dividend Yield: 5.1%.

3. Manulife Financial (MFC) is acting within the life insurance industry. The company has a market capitalization of $22.9 billion, generates revenues in an amount of $34.2 billion and a net income of $926.2 million. It follows P/E ratio is 26.7 and forward P/E ratio 7.5. P/S ratio is 0.7 and P/B ratio 0.9. Dividend Yield: 4.1%.

4. Methanex (MEOH) is acting within the specialty chemicals industry. The company has a market capitalization of $2.3 billion, generates revenues in an amount of $2.3 billion and a net income of $131.4 million. It follows P/E ratio is 17.5 and forward P/E ratio 7.0. P/S ratio is 1.0 and P/B ratio 1.8. Dividend Yield: 2.8%.

5. Magna International (MGA) is acting within the auto parts industry. The company has a market capitalization of $8.7 billion, generates revenues in an amount of $27.1 billion and a net income of $1.1 billion. It follows P/E ratio is 8.4 and forward P/E ratio 7.6. P/S ratio is 0.3 and P/B ratio 1.0. Dividend Yield: 2.7%.

Take a closer look at the full table. The average P/E ratio (P/E ratio) amounts to 16.6 while the forward P/E ratio is 13.4. The dividend yield has a value of 5.3%. Price to book ratio is 2.1 and price to sales ratio 2.4. The operating margin amounts to 18.4%.

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