As Canadian large-cap stocks recently hit an all-time high, investors are navigating a landscape marked by persistent inflation and softer economic growth. In this context, penny stocks—though often seen as a relic of past market eras—offer intriguing opportunities for those seeking potential growth at lower price points. These smaller or newer companies can provide significant returns when they boast strong financials, and we're exploring three such examples that stand out for their balance sheet strength and potential for outsized gains.
Top 10 Penny Stocks In Canada
| Name | Share Price | Market Cap | Rewards & Risks |
| Westbridge Renewable Energy (TSXV:WEB) | CA$0.79 | CA$79.91M | ✅ 3 ⚠️ 3 View Analysis > |
| NTG Clarity Networks (TSXV:NCI) | CA$2.17 | CA$91.82M | ✅ 4 ⚠️ 2 View Analysis > |
| Intermap Technologies (TSX:IMP) | CA$2.38 | CA$140.71M | ✅ 3 ⚠️ 1 View Analysis > |
| Thor Explorations (TSXV:THX) | CA$0.62 | CA$412.48M | ✅ 3 ⚠️ 2 View Analysis > |
| Silvercorp Metals (TSX:SVM) | CA$4.98 | CA$1.08B | ✅ 5 ⚠️ 2 View Analysis > |
| Orezone Gold (TSX:ORE) | CA$1.02 | CA$537.5M | ✅ 4 ⚠️ 2 View Analysis > |
| McChip Resources (TSXV:MCS) | CA$0.63 | CA$3.6M | ✅ 2 ⚠️ 5 View Analysis > |
| PetroTal (TSX:TAL) | CA$0.59 | CA$539.99M | ✅ 3 ⚠️ 3 View Analysis > |
| Pulse Seismic (TSX:PSD) | CA$2.61 | CA$132.47M | ✅ 1 ⚠️ 2 View Analysis > |
| Findev (TSXV:FDI) | CA$0.45 | CA$12.89M | ✅ 2 ⚠️ 3 View Analysis > |
Click here to see the full list of 905 stocks from our TSX Penny Stocks screener.
Below we spotlight a couple of our favorites from our exclusive screener.
Colabor Group (TSX:GCL)
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: Colabor Group Inc., along with its subsidiaries, operates in Canada by marketing, distributing, and wholesaling food and food-related products, with a market cap of CA$86.71 million.
Operations: The company generates revenue through its Wholesale - Groceries segment, amounting to CA$657.60 million.
Market Cap: CA$86.71M
Colabor Group Inc., with a market cap of CA$86.71 million, is navigating challenges as it remains unprofitable despite generating significant revenue from its Wholesale - Groceries segment. The company reported a net loss of CA$4.02 million in the first quarter of 2025, an increase from the previous year, highlighting ongoing profitability issues. However, Colabor's short-term assets exceed liabilities and it has reduced its debt-to-equity ratio over five years, indicating some financial stability. Analysts expect substantial earnings growth and anticipate a rise in stock price by 129.4%, suggesting potential upside for investors seeking value in penny stocks.
- Take a closer look at Colabor Group's potential here in our financial health report.
- Understand Colabor Group's earnings outlook by examining our growth report.
Fresh Factory B.C (TSXV:FRSH)
Simply Wall St Financial Health Rating: ★★★★★☆
Overview: The Fresh Factory B.C. Ltd. formulates, develops, manufactures, distributes, and sells fresh and plant-based food and beverage products in the United States with a market cap of CA$52.99 million.
Operations: Fresh Factory B.C. Ltd. has not reported any specific revenue segments at this time.
Market Cap: CA$53M
Fresh Factory B.C. Ltd., with a market cap of CA$52.99 million, is experiencing growth in sales and revenue, reporting US$10.57 million for Q1 2025 compared to US$8.29 million the previous year, while achieving a net income of US$0.28 million from a prior loss. Despite being unprofitable over five years, it has reduced losses by 25.8% annually and maintains no debt, suggesting financial prudence. The company recently raised nearly $3 million through private placements and remains undervalued at 57% below its estimated fair value, offering potential opportunities for investors interested in penny stocks with improving fundamentals.
- Click here and access our complete financial health analysis report to understand the dynamics of Fresh Factory B.C.
- Understand Fresh Factory B.C's track record by examining our performance history report.
Zentek (TSXV:ZEN)
Simply Wall St Financial Health Rating: ★★★★★☆
Overview: Zentek Ltd. is involved in the research and development of graphene and related nanomaterials in Canada, with a market cap of CA$231.57 million.
Operations: The company generates revenue from its Metals & Mining - Miscellaneous segment, amounting to CA$0.06 million.
Market Cap: CA$231.57M
Zentek Ltd., with a market cap of CA$231.57 million, is pre-revenue and focuses on graphene and nanomaterials research. Recent developments include the procurement of ZenGUARD™ Enhanced Air Filters by Toronto's FSCC, highlighting potential product adoption in Canada. Additionally, Zentek has advanced its HPAI A(H5N1) countermeasure project into testing under a CA$1.1 million government contract, showcasing its involvement in innovative health solutions. The company also secured CA$2 million through convertible debentures backed by mining claims, ensuring financial flexibility despite limited cash runway and high volatility compared to other Canadian stocks.
- Jump into the full analysis health report here for a deeper understanding of Zentek.
- Review our historical performance report to gain insights into Zentek's track record.
Next Steps
- Navigate through the entire inventory of 905 TSX Penny Stocks 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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