The Canadian market is navigating a period of uncertainty, with central banks in both Canada and the U.S. providing limited guidance on future interest rate moves, leading to potential volatility around economic data releases. Amidst this backdrop, investors are increasingly looking at penny stocks—typically smaller or newer companies—as a viable investment option due to their affordability and growth potential. These stocks can offer significant opportunities when backed by strong financials and solid fundamentals, making them an intriguing area for those seeking hidden value in quality companies.
Top 10 Penny Stocks In Canada
| Name | Share Price | Market Cap | Rewards & Risks |
| Westbridge Renewable Energy (TSXV:WEB) | CA$2.86 | CA$72.3M | ✅ 3 ⚠️ 4 View Analysis > |
| Canso Select Opportunities (TSXV:CSOC.A) | CA$4.79 | CA$23.16M | ✅ 2 ⚠️ 2 View Analysis > |
| Montero Mining and Exploration (TSXV:MON) | CA$0.32 | CA$2.8M | ✅ 2 ⚠️ 4 View Analysis > |
| CEMATRIX (TSX:CEMX) | CA$0.325 | CA$48.06M | ✅ 2 ⚠️ 1 View Analysis > |
| Thor Explorations (TSXV:THX) | CA$1.23 | CA$785.05M | ✅ 3 ⚠️ 2 View Analysis > |
| Automotive Finco (TSXV:AFCC.H) | CA$1.07 | CA$19.82M | ✅ 2 ⚠️ 3 View Analysis > |
| Amerigo Resources (TSX:ARG) | CA$2.50 | CA$389.19M | ✅ 3 ⚠️ 2 View Analysis > |
| Pulse Seismic (TSX:PSD) | CA$3.50 | CA$170.54M | ✅ 2 ⚠️ 1 View Analysis > |
| Hemisphere Energy (TSXV:HME) | CA$2.11 | CA$200.3M | ✅ 3 ⚠️ 1 View Analysis > |
| Matachewan Consolidated Mines (TSXV:MCM.A) | CA$0.70 | CA$8.71M | ✅ 2 ⚠️ 4 View Analysis > |
Click here to see the full list of 409 stocks from our TSX Penny Stocks screener.
Underneath we present a selection of stocks filtered out by our screen.
Mega Uranium (TSX:MGA)
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: Mega Uranium Ltd. is a uranium mining and investment company focused on exploring uranium properties mainly in Canada and Australia, with a market cap of CA$145.35 million.
Operations: Mega Uranium Ltd. does not report distinct revenue segments.
Market Cap: CA$145.35M
Mega Uranium Ltd., with a market cap of CA$145.35 million, is pre-revenue and has shown recent financial improvement, reporting a net income of CA$5.87 million for the third quarter of 2025. Despite its unprofitability over the past five years, Mega Uranium's cash reserves exceed its total debt and provide a runway exceeding three years based on current free cash flow. The board and management team are seasoned, with average tenures of 9.5 and 10.5 years respectively. However, short-term liabilities slightly exceed short-term assets by CA$0.1 million, indicating potential liquidity challenges ahead.
- Navigate through the intricacies of Mega Uranium with our comprehensive balance sheet health report here.
- Evaluate Mega Uranium's historical performance by accessing our past performance report.
Doubleview Gold (TSXV:DBG)
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: Doubleview Gold Corp. focuses on the acquisition, exploration, and development of mineral resource properties in Canada with a market cap of CA$117.08 million.
Operations: Doubleview Gold Corp. does not report any revenue segments.
Market Cap: CA$117.08M
Doubleview Gold Corp., with a market cap of CA$117.08 million, is pre-revenue and primarily focused on mineral exploration in Canada. Recent drilling at the Hat Polymetallic Deposit has revealed significant copper and gold mineralization, expanding its resource potential. Despite its promising exploration results, Doubleview remains unprofitable with increasing losses over the past five years and less than a year of cash runway based on current free cash flow. The company is debt-free but faces going concern doubts from auditors. While management and board members are experienced, recent insider selling may raise investor concerns.
- Jump into the full analysis health report here for a deeper understanding of Doubleview Gold.
- Explore historical data to track Doubleview Gold's performance over time in our past results report.
Northern Superior Resources (TSXV:SUP)
Simply Wall St Financial Health Rating: ★★★★★☆
Overview: Northern Superior Resources Inc. is a junior mining company focused on the exploration of gold properties in Ontario and Québec, Canada, with a market cap of CA$261.56 million.
Operations: Northern Superior Resources Inc. has not reported any revenue segments.
Market Cap: CA$261.56M
Northern Superior Resources Inc., with a market cap of CA$261.56 million, is a pre-revenue junior mining company focused on gold exploration in Ontario and Québec. Recent developments include the commencement of exploration at the Hazeur property and expansion of the Chevrier Project, enhancing its landholdings in Quebec's Chibougamau Gold Camp to over 70,000 hectares. Despite no significant revenue streams, Northern Superior remains debt-free with sufficient short-term assets to cover liabilities. However, it faces challenges such as unprofitability and less than one year of cash runway if free cash flow continues to decline at historical rates.
- Take a closer look at Northern Superior Resources' potential here in our financial health report.
- Explore Northern Superior Resources' analyst forecasts in our growth report.
Turning Ideas Into Actions
- Discover the full array of 409 TSX Penny Stocks right here.
- Interested In Other Possibilities? Diversify your portfolio with solid dividend payers offering reliable income streams to weather potential market turbulence.
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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