In Canada, recent economic indicators show signs of stabilization, with the labor market steadying and inflation figures aligning with expectations. As investors navigate this landscape, penny stocks—though an older term—continue to represent potential growth opportunities in smaller or newer companies. By focusing on those with strong financial health, investors can identify promising candidates that may offer both stability and upside potential.
Top 10 Penny Stocks In Canada
| Name | Share Price | Market Cap | Rewards & Risks |
| Westbridge Renewable Energy (TSXV:WEB) | CA$3.15 | CA$84.69M | ✅ 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$0.29 | CA$2.42M | ✅ 2 ⚠️ 4 View Analysis > |
| CEMATRIX (TSX:CEMX) | CA$0.365 | CA$54.82M | ✅ 2 ⚠️ 1 View Analysis > |
| Thor Explorations (TSXV:THX) | CA$1.26 | CA$851.58M | ✅ 3 ⚠️ 2 View Analysis > |
| Automotive Finco (TSXV:AFCC.H) | CA$1.09 | CA$22M | ✅ 2 ⚠️ 3 View Analysis > |
| Amerigo Resources (TSX:ARG) | CA$2.72 | CA$436.03M | ✅ 3 ⚠️ 2 View Analysis > |
| Pulse Seismic (TSX:PSD) | CA$3.55 | CA$181.2M | ✅ 2 ⚠️ 1 View Analysis > |
| Hemisphere Energy (TSXV:HME) | CA$2.21 | CA$210.75M | ✅ 3 ⚠️ 1 View Analysis > |
| Matachewan Consolidated Mines (TSXV:MCM.A) | CA$0.86 | CA$11.08M | ✅ 2 ⚠️ 3 View Analysis > |
Click here to see the full list of 415 stocks from our TSX Penny Stocks screener.
Let's explore several standout options from the results in the screener.
Cannabix Technologies (CNSX:BLO)
Simply Wall St Financial Health Rating: ★★★★★★
Overview: Cannabix Technologies Inc. is a technology company that develops marijuana and alcohol breathalyzer technologies for employers, law enforcement, workplaces, and laboratories in the United States, with a market cap of CA$61.75 million.
Operations: Cannabix Technologies Inc. currently does not report any revenue segments.
Market Cap: CA$61.75M
Cannabix Technologies, with a market cap of CA$61.75 million, is pre-revenue and unprofitable but shows potential in its niche sector. The company recently made its first sale of the BreathLogix unmanned alcohol screening technology to a European maritime firm, marking a step towards commercialization. Despite financial challenges highlighted by an auditor's going concern doubts and increasing net losses (CA$2.46 million for Q1 2025), Cannabix remains debt-free and has not diluted shareholders significantly over the past year. Its seasoned board supports strategic partnerships like that with Omega Laboratories for marijuana breath testing solutions.
- Dive into the specifics of Cannabix Technologies here with our thorough balance sheet health report.
- Assess Cannabix Technologies' previous results with our detailed historical performance reports.
EcoSynthetix (TSX:ECO)
Simply Wall St Financial Health Rating: ★★★★★★
Overview: EcoSynthetix Inc. is a renewable chemicals company that develops and commercializes bio-based technologies to replace synthetic, petrochemical-based chemicals across various regions globally, with a market cap of CA$248.99 million.
Operations: The company generates revenue from its Biopolymer Nanosphere Technology Platform, amounting to $19.71 million.
Market Cap: CA$249M
EcoSynthetix, with a market cap of CA$248.99 million, is navigating the penny stock landscape by leveraging its Biopolymer Nanosphere Technology Platform, generating US$19.71 million in revenue. Despite being unprofitable with a negative return on equity of -1.45%, it has reduced losses over the past five years by 9.9% annually and reported net income improvement in recent quarters. The company remains debt-free and has not faced significant shareholder dilution recently, supporting its financial stability alongside sufficient cash runway for over three years. Recent client orders for SurfLock highlight potential growth opportunities within the billion-dollar pulp industry market.
- Take a closer look at EcoSynthetix's potential here in our financial health report.
- Examine EcoSynthetix's past performance report to understand how it has performed in prior years.
NEO Battery Materials (TSXV:NBM)
Simply Wall St Financial Health Rating: ★★★★★☆
Overview: NEO Battery Materials Ltd. is engaged in developing silicon anode materials for lithium-ion batteries used in electric vehicles, electronics, and energy storage systems in Canada, with a market cap of CA$66.61 million.
Operations: NEO Battery Materials Ltd. does not have reported revenue segments.
Market Cap: CA$66.61M
NEO Battery Materials Ltd., with a market cap of CA$66.61 million, is pre-revenue and actively engaged in the development of silicon anode materials for lithium-ion batteries. Recent strategic moves include securing a Joint Development Agreement with an Asian manufacturer for high-performance battery products, signaling potential future revenue streams. The company has also closed private placements to raise capital, indicating ongoing investor interest despite its current unprofitability and negative return on equity. While NEO's short-term liabilities exceed its assets, it remains debt-free and continues to seek partnerships and technological advancements to enhance its market position in the evolving battery sector.
- Get an in-depth perspective on NEO Battery Materials' performance by reading our balance sheet health report here.
- Evaluate NEO Battery Materials' historical performance by accessing our past performance report.
Make It Happen
- Click here to access our complete index of 415 TSX Penny Stocks.
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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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