Discover 3 TSX Penny Stocks With Market Caps Over CA$4M

As the Canadian economy shows signs of a softening labor market, with potential rate cuts on the horizon, investors are navigating a landscape that might support both equity and bond markets. In this context, penny stocks—often smaller or newer companies—remain relevant for those seeking growth opportunities at lower price points. Despite their somewhat outdated label, these stocks can offer compelling prospects when backed by strong financials and solid fundamentals.

Top 10 Penny Stocks In Canada

Name	Share Price	Market Cap	Financial Health Rating
Alvopetro Energy (TSXV:ALV)	CA$4.80	CA$182.32M	★★★★★★
PetroTal (TSX:TAL)	CA$0.65	CA$593.32M	★★★★★★
Amerigo Resources (TSX:ARG)	CA$1.71	CA$290.15M	★★★★★☆
Pulse Seismic (TSX:PSD)	CA$2.30	CA$117.59M	★★★★★★
Foraco International (TSX:FAR)	CA$2.15	CA$222.65M	★★★★★☆
Findev (TSXV:FDI)	CA$0.41	CA$11.46M	★★★★★☆
Winshear Gold (TSXV:WINS)	CA$0.16	CA$5.66M	★★★★★★
Mandalay Resources (TSX:MND)	CA$3.33	CA$321.48M	★★★★★★
Vox Royalty (TSX:VOXR)	CA$4.07	CA$205.39M	★★★★★★
Enterprise Group (TSX:E)	CA$2.09	CA$132.27M	★★★★☆☆

Click here to see the full list of 963 stocks from our TSX Penny Stocks screener.

Let's review some notable picks from our screened stocks.

Unisync (TSX:UNI)

Simply Wall St Financial Health Rating: ★★★★☆☆

Overview: Unisync Corp., with a market cap of CA$28.71 million, manufactures and distributes garments in Canada and the United States through its subsidiaries.

Operations: Unisync's revenue is primarily generated through its Unisync Group Limited segment, which accounts for CA$79.38 million, followed by the Peerless segment contributing CA$11.77 million.

Market Cap: CA$28.71M

Unisync Corp., with a market cap of CA$28.71 million, is experiencing financial challenges as it remains unprofitable with increasing losses over the past five years. Despite a decline in sales for the recent quarter and nine-month period, net losses have narrowed compared to last year. The company has a high debt-to-equity ratio of 227.9%, indicating significant leverage, but short-term assets exceed both short-term and long-term liabilities, providing some financial stability. Unisync's seasoned board and management team offer experienced leadership, while shareholders have not faced dilution recently. The stock trades significantly below estimated fair value.

• Click here and access our complete financial health analysis report to understand the dynamics of Unisync.
• Assess Unisync's 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$4.82 million.

Operations: The company's revenue is primarily generated from the development and marketing of its communications software, amounting to CA$0.46 million.

Market Cap: CA$4.82M

01 Communique Laboratory Inc., with a market cap of CA$4.82 million, is pre-revenue, generating less than US$1 million annually. The company remains unprofitable with increasing losses over five years at 6.7% per year and has less than a year of cash runway. Despite this, its short-term assets exceed liabilities, providing some liquidity cushion. The stock exhibits high volatility but has not experienced shareholder dilution recently. Recent earnings show slight sales growth for the quarter but continued net losses compared to last year, highlighting ongoing financial challenges despite being debt-free and having an experienced board of directors.

• Click here to discover the nuances of 01 Communique Laboratory with our detailed analytical financial health report.
• Examine 01 Communique Laboratory's past performance report to understand how it has performed in prior years.

Telo Genomics (TSXV:TELO)

Simply Wall St Financial Health Rating: ★★★★☆☆

Overview: Telo Genomics Corp. is a biotech company focused on developing and commercializing predictive technological products to personalize treatment plans for patients with specific conditions, with a market cap of CA$9.69 million.

Operations: Telo Genomics Corp. currently does not report any revenue segments.

Market Cap: CA$9.69M

Telo Genomics Corp., with a market cap of CA$9.69 million, is pre-revenue and unprofitable, facing increased losses over the past five years at 27.1% annually. Despite this, the company has no debt and its short-term assets exceed liabilities, offering some financial stability. Recent developments include an expanded collaboration with Mayo Clinic to validate Telo's prognostic tests for multiple myeloma patients, potentially enhancing its product offerings in precision medicine. However, shareholder dilution occurred last year and the company has less than a year of cash runway if cash flow trends persist. The stock remains highly volatile compared to most Canadian stocks.

• Unlock comprehensive insights into our analysis of Telo Genomics stock in this financial health report.
• Explore historical data to track Telo Genomics' performance over time in our past results report.

Seize The Opportunity

• Embark on your investment journey to our 963 TSX Penny Stocks selection here.
• Shareholder in one or more of these companies? Ensure you're never caught off-guard by adding your portfolio in Simply Wall St for timely alerts on significant stock developments.
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Ready To Venture Into Other Investment Styles?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
• Jump on the AI train with fast growing tech companies forging a new era of innovation.
• 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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