As the Canadian market navigates potential rate cuts and economic stabilization, investors are keeping a close eye on opportunities amidst volatility. Penny stocks, though often seen as a throwback to earlier market days, continue to capture interest due to their affordability and growth potential. By identifying companies with strong financials and promising prospects, investors can uncover hidden opportunities within these smaller or newer firms.
Top 10 Penny Stocks In Canada
| Name | Share Price | Market Cap | Rewards & Risks |
| Westbridge Renewable Energy (TSXV:WEB) | CA$2.80 | CA$67.01M | ✅ 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$2.76M | ✅ 2 ⚠️ 4 View Analysis > |
| CEMATRIX (TSX:CEMX) | CA$0.335 | CA$48.82M | ✅ 2 ⚠️ 1 View Analysis > |
| Thor Explorations (TSXV:THX) | CA$1.08 | CA$738.48M | ✅ 3 ⚠️ 2 View Analysis > |
| Automotive Finco (TSXV:AFCC.H) | CA$0.99 | CA$19.62M | ✅ 2 ⚠️ 3 View Analysis > |
| Amerigo Resources (TSX:ARG) | CA$2.35 | CA$379.5M | ✅ 3 ⚠️ 2 View Analysis > |
| Pulse Seismic (TSX:PSD) | CA$3.43 | CA$178.66M | ✅ 2 ⚠️ 1 View Analysis > |
| Hemisphere Energy (TSXV:HME) | CA$2.08 | CA$188.91M | ✅ 3 ⚠️ 1 View Analysis > |
| Matachewan Consolidated Mines (TSXV:MCM.A) | CA$0.70 | CA$8.34M | ✅ 2 ⚠️ 4 View Analysis > |
Click here to see the full list of 409 stocks from our TSX Penny Stocks screener.
Here's a peek at a few of the choices from the screener.
Elysee Development (TSXV:ELC)
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: Elysee Development Corp. is an investment and venture capital firm focusing on growth capital investments, with a market cap of CA$12.32 million.
Operations: The company generates revenue of CA$4.40 million from acquiring and exploring mineral properties.
Market Cap: CA$12.32M
Elysee Development Corp. has recently turned profitable, reporting a net income of CA$2.95 million for the first half of 2025, a significant improvement from the previous year's loss. The firm boasts a strong Return on Equity at 24.6% and maintains more cash than total debt, although it struggles with negative operating cash flow. Its short-term assets comfortably cover both short and long-term liabilities, enhancing financial stability. Despite limited revenue streams of CA$4 million, Elysee's low Price-To-Earnings ratio suggests potential value in comparison to the broader Canadian market average. Recent stock buybacks indicate active capital management strategies.
- Jump into the full analysis health report here for a deeper understanding of Elysee Development.
- Understand Elysee Development's track record by examining our performance history report.
EV Nickel (TSXV:EVNI)
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: EV Nickel Inc. is a nickel exploration company focused on acquiring, evaluating, and exploring mineral properties in Canada, with a market cap of CA$21.60 million.
Operations: Currently, there are no reported revenue segments for this nickel exploration company.
Market Cap: CA$21.6M
EV Nickel Inc. is a pre-revenue company with a market cap of CA$21.60 million, focused on nickel exploration in Canada. The company has no debt and no long-term liabilities, which can be advantageous for financial stability, but its share price has been highly volatile recently. Despite being unprofitable with negative Return on Equity and limited cash runway of less than a year, EV Nickel hasn't significantly diluted shareholders over the past year and has reduced losses at an annual rate of 27.1% over five years. Short-term assets exceed short-term liabilities by CA$2.4 million, providing some liquidity buffer.
- Click here to discover the nuances of EV Nickel with our detailed analytical financial health report.
- Gain insights into EV Nickel's historical outcomes by reviewing our past performance report.
T2 Metals (TSXV:TWO)
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: T2 Metals Corp. is a junior mineral exploration company focused on acquiring and exploring mineral properties in Canada and the United States, with a market cap of CA$10.72 million.
Operations: T2 Metals Corp. currently does not report any revenue segments.
Market Cap: CA$10.72M
T2 Metals Corp., with a market cap of CA$10.72 million, is a pre-revenue junior mineral exploration company. Recently, it signed an Option Agreement for the Shanghai gold-silver project in Yukon Territory, enhancing its exploration prospects. Despite being debt-free and having short-term assets (CA$1.3M) exceeding liabilities, T2 faces challenges with increased volatility and less than a year of cash runway if current cash flow trends persist. The company's share price has been highly volatile recently and losses have grown by 7.7% annually over five years, while no significant shareholder dilution has occurred in the past year.
- Get an in-depth perspective on T2 Metals' performance by reading our balance sheet health report here.
- Assess T2 Metals' previous results with our detailed historical performance reports.
Key Takeaways
- Get an in-depth perspective on all 409 TSX Penny Stocks by using our screener 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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