Promising TSX Penny Stocks To Consider In October 2025

As the Canadian market navigates through a landscape marked by strong employment figures and cautious monetary policy from the Bank of Canada, investors are turning their attention to smaller opportunities that may be overlooked by larger indices. Penny stocks, despite their somewhat outdated moniker, continue to intrigue those seeking potential growth in lesser-known companies. When backed by solid financials, these stocks can present unique opportunities for value and growth, offering a compelling case for consideration among discerning investors.

Top 10 Penny Stocks In Canada

Click here to see the full list of 406 stocks from our TSX Penny Stocks screener.

Below we spotlight a couple of our favorites from our exclusive screener.

Alta Copper (TSX:ATCU)

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

Overview: Alta Copper Corp. is a mineral exploration company focused on acquiring, exploring, and developing mineral properties in Canada and Peru, with a market cap of CA$63.99 million.

Operations: No revenue segments are reported for this mineral exploration company.

Market Cap: CA$63.99M

Alta Copper Corp. is a pre-revenue mineral exploration company with a market cap of CA$63.99 million, focusing on projects in Canada and Peru. Despite its unprofitable status and declining earnings over the past five years, the company maintains no long-term liabilities and remains debt-free, which could be seen as financial prudence in this high-risk sector. Short-term assets significantly exceed short-term liabilities, although it faces less than a year of cash runway at current free cash flow rates. Recent presentations at investor conferences indicate active engagement with potential investors despite ongoing challenges in profitability and revenue generation.

• Click here to discover the nuances of Alta Copper with our detailed analytical financial health report.
• Explore historical data to track Alta Copper's performance over time in our past results report.

Grid Metals (TSXV:GRDM)

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

Overview: Grid Metals Corp. is involved in the exploration and development of base and precious metal mineral properties in Canada, with a market cap of CA$35.77 million.

Operations: Grid Metals Corp. does not have any reported revenue segments at this time.

Market Cap: CA$35.77M

Grid Metals Corp., with a market cap of CA$35.77 million, is a pre-revenue entity engaged in mineral exploration and development. The company recently announced a non-brokered private placement aiming to raise up to CA$4.03 million, which could bolster its cash position given its limited runway based on past free cash flow estimates. Grid Metals is debt-free and has short-term assets exceeding liabilities, providing some financial stability amidst high volatility and unprofitability. Recent developments include securing an exploration permit for the Falcon West property targeting cesium—a rare critical metal—and advancing exploration at the Makwa Ni-Cu-PGE project with promising nickel sulfide discoveries.

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

Laurion Mineral Exploration (TSXV:LME)

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

Overview: Laurion Mineral Exploration Inc. focuses on the acquisition, exploration, and development of mineral properties in Canada, with a market cap of CA$109.64 million.

Operations: Laurion Mineral Exploration Inc. does not report any revenue segments.

Market Cap: CA$109.64M

Laurion Mineral Exploration Inc., with a market cap of CA$109.64 million, is a pre-revenue company focusing on mineral exploration in Canada. Recent developments at its Ishkoday Project have revealed promising gold-bearing structures, particularly at the Twin Falls area, reinforcing its potential for further exploration. The company has completed significant portions of its 2025 drilling program and continues to integrate advanced geophysical surveys to enhance structural targeting. Despite being unprofitable, Laurion benefits from a strong cash position with no debt and short-term assets surpassing liabilities, providing financial stability as it advances exploration efforts.

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

Next Steps

• Unlock our comprehensive list of 406 TSX Penny Stocks by clicking 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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