TSX Penny Stocks To Watch In May 2025

The Canadian stock market has recently reached new highs, demonstrating resilience amidst global economic uncertainties and fluctuating U.S. policy discussions. For investors willing to explore beyond large-cap stocks, penny stocks—often representing smaller or newer companies—remain an intriguing investment area despite the term's somewhat outdated nature. These stocks can offer unique opportunities for growth and value, especially when backed by strong financials, making them a compelling option for those seeking under-the-radar investments with potential for long-term success.

Top 10 Penny Stocks In Canada

Click here to see the full list of 905 stocks from our TSX Penny Stocks screener.

Underneath we present a selection of stocks filtered out by our screen.

Prime Mining (TSX:PRYM)

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

Overview: Prime Mining Corp. is involved in the acquisition, exploration, and development of mineral resource properties in Mexico, with a market cap of CA$204.44 million.

Operations: Prime Mining Corp. currently does not report any revenue segments.

Market Cap: CA$204.44M

Prime Mining Corp., with a market cap of CA$204.44 million, remains pre-revenue, focusing on mineral exploration in Mexico. The company has no debt and sufficient cash runway for over a year, yet faces challenges with significant insider selling recently. Despite being unprofitable, Prime's management and board are experienced, averaging over three years in tenure. Recent drilling results at the Los Reyes Project show promising gold-equivalent intercepts at Fresnillo and Mariposa targets but have not yet translated into revenue or profitability. Analysts anticipate substantial stock price growth potential despite current financial losses.

• Take a closer look at Prime Mining's potential here in our financial health report.
• Gain insights into Prime Mining's historical outcomes by reviewing our past performance report.

Quipt Home Medical (TSX:QIPT)

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

Overview: Quipt Home Medical Corp., operating through its subsidiaries, provides durable and home medical equipment and supplies across the United States, with a market cap of CA$116.86 million.

Operations: The company generates revenue of $240.85 million from providing durable and home medical equipment and supplies throughout the United States.

Market Cap: CA$116.86M

Quipt Home Medical Corp., with a market cap of CA$116.86 million, is currently trading at a significant discount to its estimated fair value and offers good relative value compared to peers. Despite being unprofitable and facing declining earnings forecasts over the next three years, it maintains a strong cash runway due to positive free cash flow. Recent financial results show increased losses, yet the company remains resilient with short-term assets covering liabilities. A recent acquisition proposal by Forager Fund L.P. highlights potential strategic interest in Quipt's operations amidst ongoing volatility in its share price.

• Get an in-depth perspective on Quipt Home Medical's performance by reading our balance sheet health report here.
• Learn about Quipt Home Medical's future growth trajectory here.

Zoomd Technologies (TSXV:ZOMD)

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

Overview: Zoomd Technologies Ltd. is a global marketing technology company specializing in user acquisition and engagement, with a market cap of CA$80.33 million.

Operations: Zoomd Technologies Ltd. does not report specific revenue segments.

Market Cap: CA$80.33M

Zoomd Technologies Ltd., with a market cap of CA$80.33 million, has shown robust financial performance, reporting first-quarter 2025 sales of US$18.17 million, more than doubling from the previous year. The company achieved profitability last year and continues to exhibit strong earnings growth and operational efficiency, with net income reaching US$4.76 million for Q1 2025. Its short-term assets comfortably cover both short- and long-term liabilities, while its debt is well-managed by operating cash flow and EBIT coverage. Despite high share price volatility compared to peers, Zoomd's experienced board and management team support its strategic direction in expanding global markets.

• Dive into the specifics of Zoomd Technologies here with our thorough balance sheet health report.
• Explore historical data to track Zoomd Technologies' performance over time in our past results report.

Next Steps

• Reveal the 905 hidden gems among our TSX Penny Stocks screener with a single click here.
• Interested In Other Possibilities? 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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