TSX Penny Stock Picks For January 2025

As we step into 2025, the Canadian market is navigating a landscape shaped by new U.S. policies on energy, immigration, tariffs, and technology. With the TSX index showing resilience since Inauguration Day and potential rate adjustments by the Bank of Canada on the horizon, investors are keenly observing these developments. Amidst this backdrop, penny stocks—often representing smaller or emerging companies—remain a niche yet intriguing investment area for those seeking growth opportunities backed by solid financial foundations.

Top 10 Penny Stocks In Canada

Name	Share Price	Market Cap	Financial Health Rating
Silvercorp Metals (TSX:SVM)	CA$4.29	CA$965.98M	★★★★★★
Mandalay Resources (TSX:MND)	CA$4.33	CA$432.92M	★★★★★★
Pulse Seismic (TSX:PSD)	CA$2.42	CA$124.04M	★★★★★★
Foraco International (TSX:FAR)	CA$2.26	CA$231.32M	★★★★★☆
Findev (TSXV:FDI)	CA$0.495	CA$13.75M	★★★★★★
PetroTal (TSX:TAL)	CA$0.68	CA$632.62M	★★★★★★
NamSys (TSXV:CTZ)	CA$1.00	CA$26.86M	★★★★★★
East West Petroleum (TSXV:EW)	CA$0.04	CA$4.07M	★★★★★★
Hemisphere Energy (TSXV:HME)	CA$1.83	CA$179.61M	★★★★★☆
DIRTT Environmental Solutions (TSX:DRT)	CA$1.16	CA$228.22M	★★★★☆☆

Click here to see the full list of 936 stocks from our TSX Penny Stocks screener.

Let's dive into some prime choices out of the screener.

InnoCan Pharma (CNSX:INNO)

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

Overview: InnoCan Pharma Corporation is a pharmaceutical technology company that develops drug delivery platforms combining cannabidiol (CBD) with other pharmaceutical ingredients across the United States, Canada, Europe, and internationally, with a market cap of CA$49.32 million.

Operations: The company generates revenue primarily through online sales amounting to $28.86 million, with minimal contributions from other operations totaling $0.07 million.

Market Cap: CA$49.32M

InnoCan Pharma, with a market cap of CA$49.32 million, is navigating the penny stock landscape by focusing on innovative CBD drug delivery platforms. Despite being unprofitable, it has reduced losses by 10.5% annually over five years and remains debt-free. The company has a cash runway for 1.5 years if current free cash flow trends persist and has not diluted shareholders recently. Recent private placements raised CAD 635,444.60 to support operations, while promising safety results from its LPT-CBD product in minipigs suggest potential in chronic pain treatment markets.

• Click here and access our complete financial health analysis report to understand the dynamics of InnoCan Pharma.
• Gain insights into InnoCan Pharma's past trends and performance with our report on the company's historical track record.

CopperCorp Resources (TSXV:CPER)

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

Overview: CopperCorp Resources Inc. is involved in the acquisition, exploration, and evaluation of mineral resources in Australia with a market cap of CA$9.89 million.

Operations: CopperCorp Resources Inc. currently does not report any revenue segments.

Market Cap: CA$9.89M

CopperCorp Resources, with a market cap of CA$9.89 million, remains pre-revenue and debt-free while focusing on mineral exploration in Tasmania. The company has reduced its losses by 5.9% annually over the past five years and maintains a cash runway for over a year based on current free cash flow trends. Recent drilling at the Jukes prospect revealed promising copper-gold mineralization, indicating potential resource expansion opportunities despite high share price volatility. The management team is experienced, although the board lacks tenure depth, which may impact strategic consistency moving forward.

• Dive into the specifics of CopperCorp Resources here with our thorough balance sheet health report.
• Gain insights into CopperCorp Resources' historical outcomes by reviewing our past performance report.

Mason Resources (TSXV:LLG)

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

Overview: Mason Resources Inc. is engaged in the identification, investment, exploration, and evaluation of natural resources in Canada with a market cap of CA$11.30 million.

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

Market Cap: CA$11.3M

Mason Resources Inc., with a market cap of CA$11.30 million, is pre-revenue and debt-free, focusing on natural resource exploration in Canada. The company has reduced its losses by 15.4% annually over the past five years and holds sufficient cash runway for nearly two years if free cash flow continues to grow. Recent private placements have increased insider ownership, notably Fahad Al Tamimi's stake to 19.2%, reflecting confidence from key stakeholders despite high share price volatility. The board is experienced with an average tenure of 4.1 years, though the management team's experience remains unclear due to insufficient data.

• Jump into the full analysis health report here for a deeper understanding of Mason Resources.
• Examine Mason Resources' past performance report to understand how it has performed in prior years.

Key Takeaways

• Unlock our comprehensive list of 936 TSX Penny Stocks by clicking here.
• Hold shares in these firms? Setup your portfolio in Simply Wall St to seamlessly track your investments and receive personalized updates on your portfolio's performance.
• Take control of your financial future using Simply Wall St, offering free, in-depth knowledge of international markets to every investor.

Looking For Alternative Opportunities?

• 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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