As the Canadian market navigates through a period of economic contraction, with GDP declining by 1.6% in Q2, investors are closely watching for potential opportunities that may arise from anticipated monetary easing by the Bank of Canada. In this context, penny stocks—often smaller or newer companies—remain an intriguing investment area for those looking to uncover hidden value and growth potential. While traditionally considered speculative, penny stocks backed by strong financials can offer promising prospects for investors seeking under-the-radar opportunities with long-term potential.
Top 10 Penny Stocks In Canada
| Name | Share Price | Market Cap | Rewards & Risks |
| Westbridge Renewable Energy (TSXV:WEB) | CA$2.20 | CA$55.63M | ✅ 3 ⚠️ 4 View Analysis > |
| Canso Select Opportunities (TSXV:CSOC.A) | CA$4.80 | CA$22.05M | ✅ 2 ⚠️ 2 View Analysis > |
| Montero Mining and Exploration (TSXV:MON) | CA$0.28 | CA$2.34M | ✅ 2 ⚠️ 4 View Analysis > |
| CEMATRIX (TSX:CEMX) | CA$0.305 | CA$45.81M | ✅ 2 ⚠️ 1 View Analysis > |
| Thor Explorations (TSXV:THX) | CA$1.15 | CA$765.09M | ✅ 3 ⚠️ 2 View Analysis > |
| Automotive Finco (TSXV:AFCC.H) | CA$1.01 | CA$20.02M | ✅ 2 ⚠️ 4 View Analysis > |
| Amerigo Resources (TSX:ARG) | CA$2.24 | CA$361.74M | ✅ 3 ⚠️ 2 View Analysis > |
| Pulse Seismic (TSX:PSD) | CA$4.08 | CA$207.08M | ✅ 2 ⚠️ 1 View Analysis > |
| Hemisphere Energy (TSXV:HME) | CA$1.97 | CA$187.48M | ✅ 3 ⚠️ 1 View Analysis > |
| Matachewan Consolidated Mines (TSXV:MCM.A) | CA$0.43 | CA$5.35M | ✅ 2 ⚠️ 4 View Analysis > |
Click here to see the full list of 408 stocks from our TSX Penny Stocks screener.
Let's review some notable picks from our screened stocks.
Condor Resources (TSXV:CN)
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: Condor Resources Inc., an exploration stage company, focuses on acquiring and exploring mineral properties in Peru with a market cap of CA$19.49 million.
Operations: Condor Resources Inc. does not report any revenue segments as it is an exploration stage company focused on mineral properties in Peru.
Market Cap: CA$19.49M
Condor Resources Inc., with a market cap of CA$19.49 million, remains pre-revenue as it focuses on mineral exploration in Peru. Recent earnings reports highlight a net loss of CA$4.74 million for the year ending February 2025, and auditors have expressed doubts about its ability to continue as a going concern. Despite these challenges, Condor achieved a significant milestone with the approval of its Cobreorco project's environmental impact declaration, potentially benefiting from exploration success through its joint venture with Teck Resources Limited. The company is debt-free and managed by an experienced team but faces high volatility and profitability issues.
- Jump into the full analysis health report here for a deeper understanding of Condor Resources.
- Gain insights into Condor Resources' historical outcomes by reviewing our past performance report.
Questor Technology (TSXV:QST)
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: Questor Technology Inc. is an environmental emissions reduction technology company that designs, manufactures, and services clean combustion systems in Canada and the United States with a market cap of CA$15.70 million.
Operations: Questor Technology generates revenue primarily from equipment sales and rentals, totaling CA$8.30 million.
Market Cap: CA$15.7M
Questor Technology Inc., with a market cap of CA$15.70 million, has shown promising revenue growth, reporting CA$3.02 million in sales for Q2 2025 compared to CA$0.87 million a year prior, and achieving net income of CA$0.36 million after previous losses. Despite this progress, the company remains unprofitable with a negative return on equity and increased losses over five years at 15.9% annually. Positively, Questor's short-term assets cover both short- and long-term liabilities, while its cash exceeds total debt. However, it faces challenges with high share price volatility and an inexperienced management team averaging 1.4 years in tenure.
- Navigate through the intricacies of Questor Technology with our comprehensive balance sheet health report here.
- Examine Questor Technology's earnings growth report to understand how analysts expect it to perform.
Western Energy Services (TSX:WRG)
Simply Wall St Financial Health Rating: ★★★★★☆
Overview: Western Energy Services Corp. is an oilfield service company operating in Canada and the United States with a market cap of CA$70.73 million.
Operations: The company's revenue is derived from two main segments: Contract Drilling, which generated CA$167.98 million, and Production Services, contributing CA$59.47 million.
Market Cap: CA$70.73M
Western Energy Services Corp., with a market cap of CA$70.73 million, remains unprofitable but has reduced its losses by 47.5% annually over the past five years. The company reported CA$40.01 million in sales for Q2 2025, down from the previous year, yet improved its net loss to CA$4.62 million from CA$5.25 million a year ago. Despite not covering long-term liabilities with short-term assets, Western maintains a satisfactory net debt to equity ratio of 29.3%. Recent executive changes include appointing Orson Ross as CFO, bringing extensive experience to the financial leadership team starting September 15, 2025.
- Click here to discover the nuances of Western Energy Services with our detailed analytical financial health report.
- Understand Western Energy Services' earnings outlook by examining our growth report.
Next Steps
- Take a closer look at our TSX Penny Stocks list of 408 companies by clicking here.
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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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