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Suncor Energy Inc. (SU $87.58)
- $87.58 P/E (TTM): 18.02X Cap: $103.94B
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Canadian Natural Resources Limited (CNQ $60.89)
- $60.89 P/E (TTM): 11.78X Cap: $127.01B
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Nutrien Ltd. (NTR $93.49)
- $93.49 P/E (TTM): 30.99X Cap: $45.05B
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Q: Markets appear to so fickle on whatever news is happening. A year ago, resource stocks were in the dump, only to surge as a result of the war. Now they are down a lot today on the news that Iran is opening up the Strait; however, Trump just indicated that the blockade is still in effect. Is this an opportunity to buy some of these resource names?

Asked by Mike on April 20, 2026

5i Research Answer:

Yes, we think so; while the sector will no doubt stay volatile, they remain historically cheap, and even with an end to the war they may still maintain value as investors realize how fragile the world energy market really is. Much depends on insurance companies: in past crisis, it took years for insurance companies to cover tankers fully again.

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