3 TSX Penny Stocks With Market Caps Up To CA$30M

As we enter 2025, the Canadian market is navigating a landscape marked by rising government bond yields and political shifts, with investors focusing on fundamentals rather than headlines. In this context, penny stocks—often smaller or newer companies—remain an intriguing area for those seeking potential growth opportunities at a lower entry cost. While the term "penny stocks" may seem outdated, their potential for value and growth continues to attract attention when backed by strong financials.

Top 10 Penny Stocks In Canada

Name	Share Price	Market Cap	Financial Health Rating
Mandalay Resources (TSX:MND)	CA$4.02	CA$392.54M	★★★★★★
Findev (TSXV:FDI)	CA$0.49	CA$13.18M	★★★★★★
Pulse Seismic (TSX:PSD)	CA$2.43	CA$125.06M	★★★★★★
Silvercorp Metals (TSX:SVM)	CA$4.22	CA$948.57M	★★★★★★
PetroTal (TSX:TAL)	CA$0.71	CA$629.3M	★★★★★★
Foraco International (TSX:FAR)	CA$2.32	CA$225.41M	★★★★★☆
NamSys (TSXV:CTZ)	CA$1.15	CA$29.82M	★★★★★★
East West Petroleum (TSXV:EW)	CA$0.04	CA$4.07M	★★★★★★
Hemisphere Energy (TSXV:HME)	CA$1.84	CA$180.43M	★★★★★☆
Tornado Infrastructure Equipment (TSXV:TGH)	CA$0.95	CA$133.43M	★★★★★☆

Click here to see the full list of 944 stocks from our TSX Penny Stocks screener.

We're going to check out a few of the best picks from our screener tool.

East Africa Metals (TSXV:EAM)

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

Overview: East Africa Metals Inc. is a mineral exploration company engaged in the identification, acquisition, exploration, development, and sale of base and precious mineral resource properties in Ethiopia and Tanzania with a market cap of CA$25.76 million.

Operations: East Africa Metals Inc. has not reported any revenue segments.

Market Cap: CA$25.76M

East Africa Metals Inc., with a market cap of CA$25.76 million, remains pre-revenue as it focuses on mineral exploration in Ethiopia and Tanzania. Recent private placements, raising CA$499,999.95 from strategic investors, suggest confidence in its assets despite the company being unprofitable and having a negative return on equity of -18.17%. The board is experienced with an average tenure of 11.2 years, but shareholders have faced dilution over the past year. The company's short-term liabilities exceed its short-term assets by CA$1.6 million; however, recent capital raises may help address this imbalance temporarily.

• Click here to discover the nuances of East Africa Metals with our detailed analytical financial health report.
• Learn about East Africa Metals' historical performance here.

Fancamp Exploration (TSXV:FNC)

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

Overview: Fancamp Exploration Ltd. is involved in the exploration and development of mineral properties, with a market cap of CA$18.07 million.

Operations: Fancamp Exploration Ltd. currently does not report any specific revenue segments.

Market Cap: CA$18.07M

Fancamp Exploration Ltd., with a market cap of CA$18.07 million, is pre-revenue but has shown significant earnings growth, reporting net income of CA$3.95 million for the recent quarter. The company remains debt-free and its short-term assets significantly exceed both short and long-term liabilities, indicating solid financial stability. Recent executive changes include the appointment of Mr. Arnab Kumar De as CFO, bringing extensive experience in financial management to the team. Active exploration initiatives across various properties highlight Fancamp's strategic focus on mineral discovery potential in promising geological regions like New Brunswick and Southern Québec.

• Dive into the specifics of Fancamp Exploration here with our thorough balance sheet health report.
• Examine Fancamp Exploration's past performance report to understand how it has performed in prior years.

Progressive Planet Solutions (TSXV:PLAN)

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

Overview: Progressive Planet Solutions Inc., along with its subsidiaries, focuses on acquiring and exploring mineral properties in Canada and the United States, with a market cap of CA$19.88 million.

Operations: The company generates revenue of CA$19.39 million from the acquisition and exploration of mineral properties.

Market Cap: CA$19.88M

Progressive Planet Solutions Inc., with a market cap of CA$19.88 million, has recently turned profitable, reporting net income of CA$0.62 million for the second quarter ending October 31, 2024. The company's short-term assets (CA$7.6 million) exceed its short-term liabilities (CA$2.2 million), though they fall short of covering long-term liabilities (CA$10.3 million). Despite this, its debt is well-managed with a satisfactory net debt to equity ratio of 24.5% and interest payments covered by EBIT at 3.9 times coverage. The company repurchased shares recently, indicating potential confidence in its financial position and future prospects.

• Navigate through the intricacies of Progressive Planet Solutions with our comprehensive balance sheet health report here.
• Review our historical performance report to gain insights into Progressive Planet Solutions' track record.

Taking Advantage

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Seeking Other Investments?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
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• 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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