As the Canadian market navigates a period of economic adjustment, influenced by evolving monetary policies and a softening labor market, investors are seeking opportunities that align with these shifting conditions. Penny stocks, while sometimes considered a relic of investment jargon, continue to offer intriguing prospects for growth, particularly when they boast strong balance sheets and robust fundamentals. This article examines three such penny stocks on the TSX that may hold promising potential in today's economic landscape.
Top 10 Penny Stocks In Canada
| Name | Share Price | Market Cap | Rewards & Risks |
| Westbridge Renewable Energy (TSXV:WEB) | CA$2.43 | CA$63.47M | ✅ 3 ⚠️ 4 View Analysis > |
| Tornado Infrastructure Equipment (TSXV:TGH) | CA$1.88 | CA$256.8M | ✅ 4 ⚠️ 1 View Analysis > |
| Montero Mining and Exploration (TSXV:MON) | CA$0.25 | CA$2.09M | ✅ 2 ⚠️ 4 View Analysis > |
| CEMATRIX (TSX:CEMX) | CA$0.315 | CA$45.81M | ✅ 2 ⚠️ 1 View Analysis > |
| Fintech Select (TSXV:FTEC) | CA$0.035 | CA$2.8M | ✅ 2 ⚠️ 3 View Analysis > |
| Thor Explorations (TSXV:THX) | CA$1.02 | CA$632.03M | ✅ 3 ⚠️ 2 View Analysis > |
| Amerigo Resources (TSX:ARG) | CA$2.31 | CA$373.04M | ✅ 2 ⚠️ 2 View Analysis > |
| Pulse Seismic (TSX:PSD) | CA$3.91 | CA$194.9M | ✅ 2 ⚠️ 1 View Analysis > |
| Hemisphere Energy (TSXV:HME) | CA$1.98 | CA$187.48M | ✅ 3 ⚠️ 1 View Analysis > |
| McChip Resources (TSXV:MCS) | CA$1.51 | CA$8.51M | ✅ 2 ⚠️ 4 View Analysis > |
Click here to see the full list of 425 stocks from our TSX Penny Stocks screener.
Here's a peek at a few of the choices from the screener.
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$145.05 million.
Operations: The company generates revenue of $172.48 million from its Building Products segment.
Market Cap: CA$145.05M
DIRTT Environmental Solutions, with a market cap of CA$145.05 million, has shown some financial resilience despite recent challenges. The company reported a net loss of US$6.6 million for Q2 2025 but maintains a satisfactory net debt to equity ratio of 1.3%. Its operating cash flow covers its debt well at 31.9%, and short-term assets exceed both short and long-term liabilities, indicating solid liquidity management. Recent board changes include the appointment of Adrian Zarate, potentially influencing strategic direction given his background in capital structure analysis and investment banking. However, earnings have been impacted by significant one-off gains recently.
- Get an in-depth perspective on DIRTT Environmental Solutions' performance by reading our balance sheet health report here.
- Gain insights into DIRTT Environmental Solutions' outlook and expected performance with our report on the company's earnings estimates.
Globex Mining Enterprises (TSX:GMX)
Simply Wall St Financial Health Rating: ★★★★★★
Overview: Globex Mining Enterprises Inc. is involved in the acquisition, exploration, and development of mineral properties across North America, with a market cap of CA$74.05 million.
Operations: The company's revenue primarily comes from its Metals & Mining segment, specifically Gold & Other Precious Metals, amounting to CA$0.98 million.
Market Cap: CA$74.05M
Globex Mining Enterprises, with a market cap of CA$74.05 million, is pre-revenue, generating less than US$1 million primarily from its Metals & Mining segment. Recent executive changes saw David Christie appointed as President and COO, bringing extensive experience in resource finance and exploration. The company reported a net loss of CA$0.51 million for Q2 2025, down from a profit last year. Despite this, Globex remains debt-free with strong short-term asset coverage over liabilities. Recent acquisitions include claims in Arizona's Gold Basin district and promising assay results from various projects could enhance future prospects if successfully developed.
- Dive into the specifics of Globex Mining Enterprises here with our thorough balance sheet health report.
- Assess Globex Mining Enterprises' previous results with our detailed historical performance reports.
01 Communique Laboratory (TSXV:ONE)
Simply Wall St Financial Health Rating: ★★★★★★
Overview: 01 Communique Laboratory Inc. offers cybersecurity and remote access solutions across the United States, Asia-Pacific, and Canada, with a market cap of CA$42.97 million.
Operations: The company's revenue primarily stems from the development and marketing of its communications software, totaling CA$0.40 million.
Market Cap: CA$42.97M
01 Communique Laboratory Inc., with a market cap of CA$42.97 million, remains pre-revenue, generating less than US$1 million from its software solutions. The company is debt-free and has a cash runway exceeding three years based on current free cash flow trends. Despite reducing losses over the past five years, it reported increased net losses for Q2 2025 compared to the previous year. Shareholder dilution has been minimal recently, although share price volatility remains high. A recent private placement raised CA$511,500 without incurring finders' fees or commissions, potentially supporting future operations and growth initiatives in cybersecurity solutions across key markets.
- Click here and access our complete financial health analysis report to understand the dynamics of 01 Communique Laboratory.
- Learn about 01 Communique Laboratory's historical performance here.
Turning Ideas Into Actions
- Access the full spectrum of 425 TSX Penny Stocks by clicking on this link.
- Looking For Alternative Opportunities? Find companies with promising cash flow potential yet trading below their fair value.
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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