The Globe and Mail attempts to identify Canadian value-focused stocks in its Tuesday, Nov. 12, edition. The Globe's guest columnist Emily Halverson-Duncan writes in the Number Cruncher column that she looked for stocks based on how they compare with their industry peers. Ms. Halverson-Duncan explains that "industry" means where a stock is located, and a stock's "peers" refers to the median value of the other companies in the same sector. Ms. Halverson-Duncan considered industry relative trailing price to earnings (P/E) ratio, a lower values preferred. She also considered industry relative price to book (P/B) ratio, which compares a company's P/B with that of its industry peers, again, lower values preferred. As well, she considered the industry relative price to sales (P/S) ratio, which compares a company's P/S ratio with that of the industry to which the company belongs, lower values preferred. Ms. Halverson-Duncan's picks needed to have a market cap in the top two-thirds of peers, which for the column worked out to be $160.7-million or higher. Stocks that Ms. Halverson-Duncan believes are outperforming industry peers are Celestica, Largo Resources, Argonaut Gold, Centerra Gold and Gran Colombia Gold.