Spotlight On 3 TSX Penny Stocks With Market Caps Over CA$8M

Amid ongoing discussions about tariffs and their potential impact on trade, the Canadian market continues to navigate a complex economic landscape. With an emphasis on diversification as a strategy for 2025, investors are encouraged to explore various asset classes, including penny stocks. Although the term "penny stocks" might seem outdated, these investments often represent smaller or newer companies that can offer significant growth opportunities when backed by solid financial health.

Top 10 Penny Stocks In Canada

Name	Share Price	Market Cap	Financial Health Rating
Silvercorp Metals (TSX:SVM)	CA$4.57	CA$1B	★★★★★★
Alvopetro Energy (TSXV:ALV)	CA$4.985	CA$177.31M	★★★★★★
Mandalay Resources (TSX:MND)	CA$4.73	CA$439.49M	★★★★★★
Pulse Seismic (TSX:PSD)	CA$2.45	CA$120.49M	★★★★★★
Findev (TSXV:FDI)	CA$0.51	CA$14.32M	★★★★★★
PetroTal (TSX:TAL)	CA$0.70	CA$628.96M	★★★★★★
Foraco International (TSX:FAR)	CA$2.41	CA$236.24M	★★★★★☆
East West Petroleum (TSXV:EW)	CA$0.045	CA$3.62M	★★★★★★
NamSys (TSXV:CTZ)	CA$1.00	CA$26.06M	★★★★★★
Hemisphere Energy (TSXV:HME)	CA$1.91	CA$176.7M	★★★★★☆

Click here to see the full list of 940 stocks from our TSX Penny Stocks screener.

Let's review some notable picks from our screened stocks.

Happy Creek Minerals (TSXV:HPY)

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

Overview: Happy Creek Minerals Ltd. is involved in the acquisition, exploration, and development of mineral properties in Canada with a market cap of CA$8.85 million.

Operations: Currently, there are no reported revenue segments for the company.

Market Cap: CA$8.85M

Happy Creek Minerals Ltd. is a pre-revenue company with a market cap of CA$8.85 million, focusing on mineral exploration in Canada. Despite having no debt and reducing its losses over the past five years, the company faces challenges due to its insufficient cash runway and unprofitable status. Recent fieldwork at properties like Silverboss and Hen-DL indicates potential for copper-gold mineralization, while ongoing exploration at the Fox Tungsten Project aims to expand resources through extensive drilling plans set for mid-2025. However, Happy Creek's financial volatility remains high compared to most Canadian stocks, reflecting inherent risks typical of penny stocks.

• Get an in-depth perspective on Happy Creek Minerals' performance by reading our balance sheet health report here.
• Understand Happy Creek Minerals' track record by examining our performance history report.

TNR Gold (TSXV:TNR)

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

Overview: TNR Gold Corp. focuses on acquiring and exploring mineral properties, with a market cap of CA$10.45 million.

Operations: TNR Gold Corp. has not reported any revenue segments.

Market Cap: CA$10.45M

TNR Gold Corp., with a market cap of CA$10.45 million, is a pre-revenue company engaged in mineral exploration. It benefits from having no debt and an experienced management team with an average tenure of 7.4 years, but faces challenges due to its limited cash runway of less than a year and unprofitable status. The company's short-term assets (CA$178.3K) comfortably cover its short-term liabilities (CA$6.2K). Recent earnings reports show reduced quarterly net losses compared to the previous year, yet the nine-month figures reveal significant financial setbacks compared to past profits, highlighting ongoing volatility concerns typical for penny stocks.

• Navigate through the intricacies of TNR Gold with our comprehensive balance sheet health report here.
• Learn about TNR Gold's historical performance here.

Vulcan Minerals (TSXV:VUL)

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

Overview: Vulcan Minerals Inc. is a precious and base metals exploration company focused on acquiring, evaluating, and exploring mineral properties in Newfoundland and Labrador, with a market cap of CA$16.81 million.

Operations: No revenue segments have been reported.

Market Cap: CA$16.81M

Vulcan Minerals Inc., with a market cap of CA$16.81 million, is a pre-revenue exploration company focused on Newfoundland and Labrador, operating without debt. Recent updates highlight active drilling at the McNeilly zone of the Colchester Property and promising sampling results from the Springdale project, indicating potential copper-gold mineralization. Despite stable weekly volatility over the past year, Vulcan remains unprofitable with increasing losses over five years. The company's short-term assets (CA$6 million) exceed both short-term liabilities (CA$62.6K) and long-term liabilities (CA$5.1M), providing some financial stability amid its exploratory endeavors in precious and base metals sectors.

• Click here and access our complete financial health analysis report to understand the dynamics of Vulcan Minerals.
• Explore historical data to track Vulcan Minerals' performance over time in our past results report.

Turning Ideas Into Actions

• Discover the full array of 940 TSX Penny Stocks right here.
• Already own these companies? Link your portfolio to Simply Wall St and get alerts on any new warning signs to your stocks.
• Invest smarter with the free Simply Wall St app providing detailed insights into every stock market around the globe.

Ready To Venture Into Other Investment Styles?

• 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.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com