TSX Penny Stocks To Watch In November 2024

Following the decisive U.S. election outcome, Canadian markets have been buoyed by a post-election rally, with the TSX reaching new record highs alongside its U.S. counterparts. As investors navigate this shifting landscape, attention turns to long-term fundamentals and potential policy changes that could influence market dynamics in Canada. Penny stocks, despite their somewhat outdated name, remain an intriguing investment area; when backed by strong financials, these smaller or newer companies can offer unique growth opportunities that may not be as prevalent among larger firms.

Top 10 Penny Stocks In Canada

Name	Share Price	Market Cap	Financial Health Rating
PetroTal (TSX:TAL)	CA$0.67	CA$611.57M	★★★★★★
Amerigo Resources (TSX:ARG)	CA$1.72	CA$285.18M	★★★★★☆
Pulse Seismic (TSX:PSD)	CA$2.29	CA$116.54M	★★★★★★
Alvopetro Energy (TSXV:ALV)	CA$5.00	CA$182.67M	★★★★★★
Findev (TSXV:FDI)	CA$0.41	CA$11.75M	★★★★★☆
Winshear Gold (TSXV:WINS)	CA$0.155	CA$4.87M	★★★★★★
Vox Royalty (TSX:VOXR)	CA$3.77	CA$190.72M	★★★★★★
Foraco International (TSX:FAR)	CA$2.40	CA$237.5M	★★★★★☆
NamSys (TSXV:CTZ)	CA$1.09	CA$29.28M	★★★★★★
East West Petroleum (TSXV:EW)	CA$0.04	CA$3.62M	★★★★★★

Click here to see the full list of 958 stocks from our TSX Penny Stocks screener.

Here we highlight a subset of our preferred stocks from the screener.

Intellabridge Technology (CNSX:KASH)

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

Overview: Intellabridge Technology Corp. is a financial technology company offering financial services in the United States, with a market cap of CA$3.99 million.

Operations: Intellabridge Technology Corp. currently does not report any specific revenue segments.

Market Cap: CA$3.99M

Intellabridge Technology Corp., with a market cap of CA$3.99 million, is navigating significant challenges as a pre-revenue financial technology company. Despite recent product enhancements like the Karma app's Impact Dashboard and Karma Stories, which aim to boost user engagement, the company faces financial hurdles. It has less than one year of cash runway and continues to report net losses, with sales under US$1 million. The board is relatively inexperienced; however, the management team brings seasoned expertise. While short-term liabilities are covered by assets, volatility remains high compared to Canadian peers.

• Take a closer look at Intellabridge Technology's potential here in our financial health report.
• Gain insights into Intellabridge Technology's past trends and performance with our report on the company's historical track record.

Electric Metals (USA) (TSXV:EML)

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

Overview: Electric Metals (USA) Limited focuses on acquiring, exploring, and developing mineral properties in the United States, Canada, and Australia with a market cap of CA$11.58 million.

Operations: Electric Metals (USA) Limited does not have any reported revenue segments.

Market Cap: CA$11.58M

Electric Metals (USA) Limited, with a market cap of CA$11.58 million, is pre-revenue and faces financial challenges, including a high weekly volatility of 20% and short-term liabilities exceeding assets. The company has no long-term liabilities or debt but had only one month of cash runway as of June 2024 before raising additional capital through a private placement. Recent metallurgical testing at the Emily manganese deposit in Minnesota showed promising results for producing high-purity manganese sulfate monohydrate for the lithium-ion battery market, positioning Electric Metals to potentially capitalize on future demand in this sector.

• Jump into the full analysis health report here for a deeper understanding of Electric Metals (USA).
• Gain insights into Electric Metals (USA)'s historical outcomes by reviewing our past performance report.

Searchlight Resources (TSXV:SCLT)

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

Overview: Searchlight Resources Inc. is involved in the acquisition, exploration, and development of mineral properties in Canada, with a market cap of CA$1.47 million.

Operations: There are no reported revenue segments for Searchlight Resources Inc.

Market Cap: CA$1.47M

Searchlight Resources Inc., with a market cap of CA$1.47 million, is pre-revenue and involved in mineral exploration. The company has initiated airborne surveys at its Bear Lake Rare Earth project in Northern Saskatchewan, targeting significant rare earth element showings. Despite being debt-free and having short-term assets exceeding liabilities, Searchlight faces financial challenges with less than a year of cash runway and shareholder dilution over the past year. Its seasoned management team averages 6.5 years of tenure, yet the stock remains highly volatile with increased weekly volatility from 58% to 92% over the past year.

• Click to explore a detailed breakdown of our findings in Searchlight Resources' financial health report.
• Understand Searchlight Resources' track record by examining our performance history report.

Seize The Opportunity

• Explore the 958 names from our TSX Penny Stocks screener here.
• Shareholder in one or more of these companies? Ensure you're never caught off-guard by adding your portfolio in Simply Wall St for timely alerts on significant stock developments.
• Simply Wall St is a revolutionary app designed for long-term stock investors, it's free and covers every market in the world.

Want To Explore Some Alternatives?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
• Jump on the AI train with fast growing tech companies forging a new era of innovation.
• 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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