Cruz Battery Metals Leads The Charge Among 3 Promising TSX Penny Stocks

The Canadian market has been experiencing a series of record highs, driven by strong fundamentals and the removal of election-related uncertainties. In this context, penny stocks—typically smaller or newer companies—continue to capture investor interest due to their potential for growth and affordability. While the term may seem outdated, these stocks remain relevant for those seeking opportunities beyond established names, particularly when they demonstrate financial resilience and growth potential.

Top 10 Penny Stocks In Canada

Name	Share Price	Market Cap	Financial Health Rating
PetroTal (TSX:TAL)	CA$0.67	CA$593.32M	★★★★★★
Amerigo Resources (TSX:ARG)	CA$1.67	CA$285.18M	★★★★★☆
Alvopetro Energy (TSXV:ALV)	CA$4.91	CA$180.11M	★★★★★★
Pulse Seismic (TSX:PSD)	CA$2.30	CA$117.56M	★★★★★★
Findev (TSXV:FDI)	CA$0.425	CA$11.75M	★★★★★☆
Mandalay Resources (TSX:MND)	CA$3.31	CA$316.75M	★★★★★★
Winshear Gold (TSXV:WINS)	CA$0.155	CA$5.03M	★★★★★★
Foraco International (TSX:FAR)	CA$2.22	CA$228.59M	★★★★★☆
NamSys (TSXV:CTZ)	CA$1.13	CA$30.62M	★★★★★★
East West Petroleum (TSXV:EW)	CA$0.035	CA$3.62M	★★★★★★

Click here to see the full list of 961 stocks from our TSX Penny Stocks screener.

Here's a peek at a few of the choices from the screener.

Cruz Battery Metals (CNSX:CRUZ)

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

Overview: Cruz Battery Metals Corp. is an exploration stage company focused on identifying, acquiring, and exploring mineral properties, with a market cap of CA$6.72 million.

Operations: Cruz Battery Metals Corp. has not reported any revenue segments as it is currently in the exploration stage.

Market Cap: CA$6.72M

Cruz Battery Metals Corp., with a market cap of CA$6.72 million, remains in the exploration stage and is pre-revenue, reporting less than US$1 million in revenue. The company has experienced shareholder dilution over the past year, with shares outstanding increasing by 5.3%. Despite being debt-free and having sufficient cash runway for more than a year, Cruz's financials reflect ongoing challenges; it reported a net loss of CA$1.31 million for the full year ended July 31, 2024, slightly improved from CA$1.93 million the previous year. The board is considered experienced with an average tenure of 6.3 years.

• Get an in-depth perspective on Cruz Battery Metals' performance by reading our balance sheet health report here.
• Explore historical data to track Cruz Battery Metals' performance over time in our past results report.

Delta Resources (TSXV:DLTA)

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

Overview: Delta Resources Limited is an exploration company focused on acquiring, exploring, and developing gold and base metal projects in Canada, with a market cap of CA$12.82 million.

Operations: Delta Resources Limited has not reported any revenue segments.

Market Cap: CA$12.82M

Delta Resources Limited, with a market cap of CA$12.82 million, is pre-revenue and focused on expanding its exploration footprint in Canada. The company recently raised up to CA$5 million through a private placement to fund its projects, indicating proactive capital management despite past shareholder dilution. Delta's short-term assets of CA$2.6 million comfortably cover its liabilities, though it faces challenges with a limited cash runway and ongoing losses. Recent acquisitions have expanded Delta's land holdings significantly around the Eureka Gold Deposit, enhancing potential for future gold discoveries while maintaining a debt-free status and no long-term liabilities.

• Unlock comprehensive insights into our analysis of Delta Resources stock in this financial health report.
• Assess Delta Resources' previous results with our detailed historical performance reports.

ZincX Resources (TSXV:ZNX)

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

Overview: ZincX Resources Corp. is involved in the acquisition, exploration, and evaluation of mineral resource properties in Canada with a market cap of CA$15.97 million.

Operations: ZincX Resources Corp. does not have any reported revenue segments.

Market Cap: CA$15.97M

ZincX Resources Corp., with a market cap of CA$15.97 million, is pre-revenue and focused on mineral exploration in Canada. The company has no debt and maintains a seasoned board with an average tenure of 17 years, providing stability in governance. Despite being unprofitable, ZincX has reduced its losses over the past five years by 3% annually and holds sufficient cash runway for over a year based on current free cash flow. However, short-term assets of CA$717.9K do not cover liabilities of CA$1.5M, indicating potential liquidity challenges amidst high share price volatility.

• Take a closer look at ZincX Resources' potential here in our financial health report.
• Review our historical performance report to gain insights into ZincX Resources' track record.

Make It Happen

• Investigate our full lineup of 961 TSX Penny Stocks right here.
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Ready To Venture Into Other Investment Styles?

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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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