As the Canadian market navigates the ripple effects of a U.S. government shutdown, investors are keeping an eye on sectors driven by artificial intelligence and consumer spending. Amid these broader economic dynamics, penny stocks—often representing smaller or newer companies—continue to offer intriguing opportunities for growth at lower price points. While the term "penny stocks" may seem outdated, they remain relevant for those seeking under-the-radar investments with strong financial health and potential upside.
Top 10 Penny Stocks In Canada
| Name | Share Price | Market Cap | Rewards & Risks |
| Westbridge Renewable Energy (TSXV:WEB) | CA$3.08 | CA$77.86M | ✅ 3 ⚠️ 4 View Analysis > |
| Canso Select Opportunities (TSXV:CSOC.A) | CA$4.50 | CA$22.73M | ✅ 2 ⚠️ 2 View Analysis > |
| Montero Mining and Exploration (TSXV:MON) | CA$0.55 | CA$4.59M | ✅ 2 ⚠️ 4 View Analysis > |
| CEMATRIX (TSX:CEMX) | CA$0.365 | CA$54.82M | ✅ 2 ⚠️ 1 View Analysis > |
| Thor Explorations (TSXV:THX) | CA$1.37 | CA$911.46M | ✅ 3 ⚠️ 2 View Analysis > |
| Automotive Finco (TSXV:AFCC.H) | CA$1.16 | CA$22.99M | ✅ 2 ⚠️ 3 View Analysis > |
| Amerigo Resources (TSX:ARG) | CA$2.76 | CA$445.72M | ✅ 3 ⚠️ 2 View Analysis > |
| Pulse Seismic (TSX:PSD) | CA$3.51 | CA$178.15M | ✅ 2 ⚠️ 1 View Analysis > |
| Hemisphere Energy (TSXV:HME) | CA$2.19 | CA$207.9M | ✅ 3 ⚠️ 1 View Analysis > |
| Matachewan Consolidated Mines (TSXV:MCM.A) | CA$0.80 | CA$9.96M | ✅ 2 ⚠️ 4 View Analysis > |
Click here to see the full list of 418 stocks from our TSX Penny Stocks screener.
We're going to check out a few of the best picks from our screener tool.
DIRTT Environmental Solutions (TSX:DRT)
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: DIRTT Environmental Solutions Ltd. is a Canadian interior construction company with a market cap of CA$155.16 million.
Operations: The company's revenue is derived from its Building Products segment, which generated $172.48 million.
Market Cap: CA$155.16M
DIRTT Environmental Solutions Ltd., with a market cap of CA$155.16 million, has shown resilience in the penny stock space through strategic contracts and prudent financial management. Recent project awards, including a $3.5 million contract with Google and a $16 million healthcare project, highlight its commercial momentum. Despite facing challenges such as increased debt to equity from 0% to 68.3% over five years, DIRTT's short-term assets comfortably cover both short- and long-term liabilities. The company's board and management teams are experienced, aiding stability amidst volatility while shareholders have avoided significant dilution recently.
- Get an in-depth perspective on DIRTT Environmental Solutions' performance by reading our balance sheet health report here.
- Understand DIRTT Environmental Solutions' earnings outlook by examining our growth report.
Surge Battery Metals (TSXV:NILI)
Simply Wall St Financial Health Rating: ★★★★★★
Overview: Surge Battery Metals Inc. is an exploration stage company focused on acquiring, exploring, and developing mineral properties in North America, with a market cap of CA$64.45 million.
Operations: Surge Battery Metals Inc. does not report any revenue segments, as it is an exploration stage company focused on mineral property development in North America.
Market Cap: CA$64.45M
Surge Battery Metals Inc., with a market cap of CA$64.45 million, is pre-revenue as it focuses on mineral exploration. Recent developments include a strategic alliance with Evolution Mining Limited to advance the Nevada North Lithium Project (NNLP) through a joint venture, aiming for a Preliminary Feasibility Study. Additionally, Surge initiated a private placement to raise up to CA$5 million and commenced its fall core drilling program at NNLP. Despite having no debt and short-term assets exceeding liabilities, the company faces challenges due to unprofitability and limited cash runway without further capital infusion or revenue generation.
- Click here and access our complete financial health analysis report to understand the dynamics of Surge Battery Metals.
- Gain insights into Surge Battery Metals' historical outcomes by reviewing our past performance report.
Transatlantic Mining (TSXV:TCO)
Simply Wall St Financial Health Rating: ★★★★★☆
Overview: Transatlantic Mining Corp. is involved in acquiring, exploring, and developing mineral properties in the United States with a market cap of CA$17.33 million.
Operations: Transatlantic Mining Corp. currently does not report any specific revenue segments.
Market Cap: CA$17.33M
Transatlantic Mining Corp., with a market cap of CA$17.33 million, remains pre-revenue as it focuses on mineral exploration in the United States. The company recently received a permit for drilling and dewatering at its Golden Jubilee project in Montana, enhancing exploration potential. Despite no debt or long-term liabilities, Transatlantic's short-term assets (CA$3.5M) fall short of covering its liabilities (CA$5.3M). A significant one-off gain of CA$1.5M impacted recent financial results, but the company has become profitable this year with earnings growth challenging to assess against past performance due to volatility and lack of historical profitability data.
- Dive into the specifics of Transatlantic Mining here with our thorough balance sheet health report.
- Learn about Transatlantic Mining's historical performance here.
Seize The Opportunity
- Take a closer look at our TSX Penny Stocks list of 418 companies by clicking here.
- Interested In Other Possibilities? Outshine the giants: these 24 early-stage AI stocks could fund your retirement.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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