As the Canadian market navigates a period of manageable yet persistent inflation concerns, investors are closely watching for potential shifts in monetary policy that could influence market dynamics. In this context, identifying stocks with strong financial foundations and clear growth prospects becomes increasingly important. While the term "penny stocks" may seem outdated, these smaller or newer companies can offer significant opportunities for those willing to explore beyond traditional investment avenues.
Top 10 Penny Stocks In Canada
| Name | Share Price | Market Cap | Rewards & Risks |
| Westbridge Renewable Energy (TSXV:WEB) | CA$0.63 | CA$63.72M | ✅ 3 ⚠️ 4 View Analysis > |
| Montero Mining and Exploration (TSXV:MON) | CA$0.235 | CA$1.96M | ✅ 2 ⚠️ 4 View Analysis > |
| CEMATRIX (TSX:CEMX) | CA$0.31 | CA$48.82M | ✅ 2 ⚠️ 1 View Analysis > |
| Fintech Select (TSXV:FTEC) | CA$0.04 | CA$3.2M | ✅ 2 ⚠️ 3 View Analysis > |
| Findev (TSXV:FDI) | CA$0.45 | CA$12.89M | ✅ 2 ⚠️ 4 View Analysis > |
| Thor Explorations (TSXV:THX) | CA$0.95 | CA$612.07M | ✅ 3 ⚠️ 2 View Analysis > |
| Amerigo Resources (TSX:ARG) | CA$2.25 | CA$352.05M | ✅ 2 ⚠️ 2 View Analysis > |
| Pulse Seismic (TSX:PSD) | CA$4.01 | CA$198.45M | ✅ 2 ⚠️ 1 View Analysis > |
| Hemisphere Energy (TSXV:HME) | CA$1.95 | CA$184.63M | ✅ 3 ⚠️ 1 View Analysis > |
| McChip Resources (TSXV:MCS) | CA$1.65 | CA$8.85M | ✅ 2 ⚠️ 4 View Analysis > |
Click here to see the full list of 426 stocks from our TSX Penny Stocks screener.
Underneath we present a selection of stocks filtered out by our screen.
Nano One Materials (TSX:NANO)
Simply Wall St Financial Health Rating: ★★★★★☆
Overview: Nano One Materials Corp. produces and sells cathode active materials for lithium-ion batteries used in electric vehicles, energy storage systems, and consumer electronics, with a market cap of CA$111.50 million.
Operations: Currently, there are no reported revenue segments for this company.
Market Cap: CA$111.5M
Nano One Materials Corp., with a market cap of CA$111.50 million, is pre-revenue, focusing on cathode active materials for lithium-ion batteries. Recent advancements include the installation of a proprietary agitator in its Candiac facility, enhancing production efficiency and reducing operating costs. The company has expanded its intellectual property portfolio with five new patents across North America and Asia, reinforcing its technological edge. Despite being unprofitable with a net loss reduction to CA$2.79 million in Q2 2025 from CA$8.37 million the previous year, Nano One maintains sufficient cash runway and manageable debt levels while actively pursuing strategic partnerships and business development initiatives.
- Click to explore a detailed breakdown of our findings in Nano One Materials' financial health report.
- Examine Nano One Materials' past performance report to understand how it has performed in prior years.
Kobo Resources (TSXV:KRI)
Simply Wall St Financial Health Rating: ★★★★★★
Overview: Kobo Resources Inc. focuses on acquiring, exploring, and developing gold property assets in Côte d'Ivoire, West Africa, with a market cap of CA$35.03 million.
Operations: Kobo Resources Inc. has not reported any revenue segments.
Market Cap: CA$35.03M
Kobo Resources Inc., with a market cap of CA$35.03 million, is pre-revenue and focused on gold exploration in Côte d'Ivoire. The company recently announced a non-brokered private placement to raise up to CA$3 million, which could extend its cash runway beyond the current 4-5 months. The management team and board are seasoned, with average tenures of 9.7 and 8.5 years respectively, providing stability amidst financial challenges like unprofitability and going concern doubts expressed by auditors. Recent strategic moves include an earn-in agreement expanding exploration rights over promising gold corridors, bolstering its asset portfolio despite limited financial resources.
- Get an in-depth perspective on Kobo Resources' performance by reading our balance sheet health report here.
- Review our historical performance report to gain insights into Kobo Resources' track record.
Star Royalties (TSXV:STRR)
Simply Wall St Financial Health Rating: ★★★★★★
Overview: Star Royalties Ltd. is a company focused on precious metals and decarbonization solutions through royalty and streaming operations, with a market cap of CA$18.09 million.
Operations: Star Royalties Ltd. does not have any reported revenue segments at this time.
Market Cap: CA$18.09M
Star Royalties Ltd., with a market cap of CA$18.09 million, is a pre-revenue company focused on precious metals and decarbonization solutions through royalty and streaming operations. Despite being debt-free, the company reported a net loss of US$0.83 million for Q2 2025, an increase from the previous year. Its short-term assets of US$3.2 million comfortably cover liabilities, but earnings have declined by 33.9% annually over five years while remaining unprofitable with negative return on equity at -92.28%. The management team has an average tenure of 5 years, suggesting experienced leadership amidst financial challenges.
- Click here and access our complete financial health analysis report to understand the dynamics of Star Royalties.
- Explore historical data to track Star Royalties' performance over time in our past results report.
Turning Ideas Into Actions
- Unlock our comprehensive list of 426 TSX Penny Stocks 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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