Discover 3 TSX Penny Stocks With Market Caps As Low As CA$3M

As the Canadian economy faces a contraction in November, with expectations of a rebound in December, investors are closely watching market movements and policy changes. In such fluctuating conditions, identifying stocks with potential requires careful consideration of financial health and growth prospects. Penny stocks, though often overlooked as relics of past market eras, continue to present opportunities for those seeking affordability paired with strong fundamentals.

Top 10 Penny Stocks In Canada

Name	Share Price	Market Cap	Financial Health Rating
Alvopetro Energy (TSXV:ALV)	CA$5.00	CA$184.62M	★★★★★★
Silvercorp Metals (TSX:SVM)	CA$4.59	CA$989.91M	★★★★★★
Mandalay Resources (TSX:MND)	CA$4.70	CA$447.95M	★★★★★★
Pulse Seismic (TSX:PSD)	CA$2.38	CA$126.59M	★★★★★★
Foraco International (TSX:FAR)	CA$2.28	CA$230.34M	★★★★★☆
PetroTal (TSX:TAL)	CA$0.68	CA$619.87M	★★★★★★
Findev (TSXV:FDI)	CA$0.46	CA$14.32M	★★★★★★
NamSys (TSXV:CTZ)	CA$1.00	CA$28.21M	★★★★★★
East West Petroleum (TSXV:EW)	CA$0.04	CA$3.62M	★★★★★★
Tornado Infrastructure Equipment (TSXV:TGH)	CA$0.98	CA$138.93M	★★★★★☆

Click here to see the full list of 930 stocks from our TSX Penny Stocks screener.

Let's explore several standout options from the results in the screener.

MedBright AI Investments (CNSX:MBAI)

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

Overview: MedBright AI Investments Inc. focuses on investing in healthcare technology companies and has a market cap of CA$3.86 million.

Operations: No revenue segments have been reported for MedBright AI Investments Inc.

Market Cap: CA$3.86M

MedBright AI Investments Inc., with a market cap of CA$3.86 million, is pre-revenue and currently unprofitable, facing increased losses over the past five years. The company has no long-term liabilities and remains debt-free, but its cash runway is less than a year if current cash flow trends persist. Recent volatility in share price highlights potential risks for investors. Notably, Brandon Kou's appointment to the board may bring strategic insights given his extensive experience in capital markets and M&A activities. Despite these challenges, MedBright's short-term assets exceed its liabilities, offering some financial stability amidst ongoing restructuring efforts.

• Navigate through the intricacies of MedBright AI Investments with our comprehensive balance sheet health report here.
• Learn about MedBright AI Investments' historical performance here.

Amex Exploration (TSXV:AMX)

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

Overview: Amex Exploration Inc., along with its subsidiaries, focuses on the exploration of gold mining properties in Canada and has a market cap of CA$126.96 million.

Operations: Amex Exploration Inc. does not report any revenue segments as it is primarily focused on the exploration of gold mining properties in Canada.

Market Cap: CA$126.96M

Amex Exploration Inc., with a market cap of CA$126.96 million, is pre-revenue and primarily focused on gold exploration in Canada. The company has no debt and its short-term assets of CA$14.3 million exceed short-term liabilities, though they do not cover long-term liabilities of CA$16.4 million. Recent drilling at the Perron Project has expanded high-grade gold zones, enhancing potential resource growth. Despite earnings forecasted to decline by 19.2% annually over three years, Amex became profitable this year with net income rising to CA$1.37 million for Q3 2024 from CA$1.18 million year-on-year, reflecting operational progress amidst exploration activities.

• Click here to discover the nuances of Amex Exploration with our detailed analytical financial health report.
• Assess Amex Exploration's future earnings estimates with our detailed growth reports.

Nubeva Technologies (TSXV:NBVA)

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

Overview: Nubeva Technologies Ltd. develops and licenses software-based decryption solutions, including Ransomware Reversal, with a market cap of CA$8.77 million.

Operations: The company generates revenue of $0.73 million from its software development and commercialization activities.

Market Cap: CA$8.77M

Nubeva Technologies Ltd., with a market cap of CA$8.77 million, is pre-revenue, generating US$0.73 million from its software activities. Despite its unprofitability, the company has reduced losses by 34.2% annually over five years and maintains more cash than debt, indicating financial prudence. Its short-term assets of $3.7 million comfortably cover both short- and long-term liabilities, providing stability amidst volatility in share price and high weekly volatility compared to most Canadian stocks. The experienced board and sufficient cash runway exceeding three years offer resilience as the company navigates challenging market conditions.

• Dive into the specifics of Nubeva Technologies here with our thorough balance sheet health report.
• Gain insights into Nubeva Technologies' past trends and performance with our report on the company's historical track record.

Summing It All Up

• Discover the full array of 930 TSX Penny Stocks right here.
• Already own these companies? Bring clarity to your investment decisions by linking up your portfolio with Simply Wall St, where you can monitor all the vital signs of your stocks effortlessly.
• Streamline your investment strategy with Simply Wall St's app for free and benefit from extensive research on stocks across all corners of the world.

Want To Explore Some Alternatives?

• 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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