TSX Penny Stocks Under The Radar With Market Caps Below CA$200M

November kicked off with a wobble in equity markets, triggered by renewed scrutiny of artificial intelligence valuations. Despite this volatility, the fundamentals of corporate earnings remain robust, highlighting the importance of maintaining a diversified portfolio across various sectors and market caps. For those looking to invest in smaller or newer companies, penny stocks—despite the name's vintage feel—can still offer surprising value. With solid financial foundations, these stocks have the potential to outperform while offering greater stability.

Top 10 Penny Stocks In Canada

Click here to see the full list of 412 stocks from our TSX Penny Stocks screener.

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

Geodrill (TSX:GEO)

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

Overview: Geodrill Limited, along with its subsidiaries, offers mineral exploration drilling services to mining companies in West Africa, Egypt, Chile, and Peru and has a market cap of CA$172.62 million.

Operations: The company generates revenue of $166.31 million from its mineral exploration drilling services.

Market Cap: CA$172.62M

Geodrill Limited, with a market cap of CA$172.62 million, has demonstrated substantial earnings growth over the past year, outpacing industry averages. Despite this growth, recent quarterly results show a net loss of US$1.36 million against last year's profit, highlighting potential volatility in financial performance. The company maintains strong liquidity with short-term assets exceeding liabilities and its debt well-covered by cash flow. Management and board experience are robust, averaging over 13 years of tenure each. Geodrill's stock is currently trading significantly below estimated fair value according to analysts' consensus price targets.

• Dive into the specifics of Geodrill here with our thorough balance sheet health report.
• Gain insights into Geodrill's future direction by reviewing our growth report.

Globex Mining Enterprises (TSX:GMX)

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

Overview: Globex Mining Enterprises Inc. is involved in the acquisition, exploration, and development of mineral properties in North America, with a market cap of CA$99.43 million.

Operations: Globex Mining Enterprises generates revenue from its Metals & Mining segment, specifically focusing on Gold and Other Precious Metals, amounting to CA$0.98 million.

Market Cap: CA$99.43M

Globex Mining Enterprises, with a market cap of CA$99.43 million, remains pre-revenue with earnings growth challenges. Despite negative earnings growth over the past year, the company has achieved profitability over five years and maintains a strong financial position with no debt and short-term assets exceeding liabilities. Recent developments include significant drilling progress on properties such as Duquesne West and Mont Sorcier, which hold potential for future resource expansion. The seasoned management team continues to leverage strategic acquisitions like the Blackcliff Gold Mine Property to enhance its exploration portfolio while maintaining stability in shareholder equity without dilution over the past year.

• Click here and access our complete financial health analysis report to understand the dynamics of Globex Mining Enterprises.
• Gain insights into Globex Mining Enterprises' historical outcomes by reviewing our past performance report.

OverActive Media (TSXV:OAM)

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

Overview: OverActive Media Corp. is an esports and entertainment company operating in Canada, the United States, and Europe with a market cap of CA$35.48 million.

Operations: The company's revenue is derived from two main segments: Team Operations, which generated CA$8.63 million, and Business Operations, contributing CA$21.46 million.

Market Cap: CA$35.48M

OverActive Media Corp., with a market cap of CA$35.48 million, operates in the esports and entertainment sectors across multiple regions. The company has demonstrated revenue growth, reporting sales of CA$8.36 million for the recent quarter, though it remains unprofitable with a net loss of CA$2.97 million. Its financial health is bolstered by short-term assets exceeding liabilities and a significant reduction in debt-to-equity ratio over five years. Recent funding efforts include private placements totaling CAD 2 million to support working capital needs, reflecting strategic moves to stabilize operations amid management changes and high market volatility (12%).

• Click to explore a detailed breakdown of our findings in OverActive Media's financial health report.
• Examine OverActive Media's past performance report to understand how it has performed in prior years.

Turning Ideas Into Actions

• Embark on your investment journey to our 412 TSX Penny Stocks selection 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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