The Canadian market has experienced significant fluctuations in 2025, with the TSX reaching new all-time highs after overcoming earlier declines driven by U.S. policy shifts and trade tensions. Amid these broader market dynamics, investors often seek opportunities in lesser-known areas such as penny stocks—companies that are smaller or newer but can offer substantial potential when backed by robust financials. Despite the term's antiquated ring, penny stocks continue to attract attention for their ability to provide unique investment opportunities outside of more established names.
Top 10 Penny Stocks In Canada
| Name | Share Price | Market Cap | Rewards & Risks |
| Westbridge Renewable Energy (TSXV:WEB) | CA$0.62 | CA$62.71M | ✅ 3 ⚠️ 3 View Analysis > |
| Tornado Infrastructure Equipment (TSXV:TGH) | CA$1.91 | CA$263.71M | ✅ 4 ⚠️ 1 View Analysis > |
| illumin Holdings (TSX:ILLM) | CA$2.04 | CA$105.29M | ✅ 4 ⚠️ 1 View Analysis > |
| Fintech Select (TSXV:FTEC) | CA$0.035 | CA$2.8M | ✅ 2 ⚠️ 3 View Analysis > |
| Findev (TSXV:FDI) | CA$0.425 | CA$12.18M | ✅ 2 ⚠️ 4 View Analysis > |
| Thor Explorations (TSXV:THX) | CA$0.77 | CA$512.28M | ✅ 3 ⚠️ 2 View Analysis > |
| Automotive Finco (TSXV:AFCC.H) | CA$0.96 | CA$19.03M | ✅ 2 ⚠️ 4 View Analysis > |
| Pulse Seismic (TSX:PSD) | CA$3.57 | CA$181.2M | ✅ 1 ⚠️ 1 View Analysis > |
| Hemisphere Energy (TSXV:HME) | CA$1.84 | CA$176.45M | ✅ 3 ⚠️ 1 View Analysis > |
| McChip Resources (TSXV:MCS) | CA$1.15 | CA$6.57M | ✅ 2 ⚠️ 4 View Analysis > |
Click here to see the full list of 445 stocks from our TSX Penny Stocks screener.
We'll examine a selection from our screener results.
Majestic Gold (TSXV:MJS)
Simply Wall St Financial Health Rating: ★★★★★★
Overview: Majestic Gold Corp. is a mining company engaged in the exploration, development, and operation of mining properties in China, with a market cap of CA$177.25 million.
Operations: The company generates revenue of $74.87 million from its activities focused on exploring, developing, and operating mining properties.
Market Cap: CA$177.25M
Majestic Gold Corp., with a market cap of CA$177.25 million, has shown robust financial health and growth potential. The company's net profit margin improved slightly to 13.8%, and its earnings grew by 37.1% over the past year, outpacing its five-year average. Its debt is well-covered by operating cash flow, and it holds more cash than total debt, indicating sound financial management. Despite high share price volatility, Majestic Gold's short-term assets exceed both short- and long-term liabilities significantly. Recent announcements include a new dividend policy framework and improved quarterly earnings results compared to the previous year.
- Navigate through the intricacies of Majestic Gold with our comprehensive balance sheet health report here.
- Explore historical data to track Majestic Gold's performance over time in our past results report.
Silver One Resources (TSXV:SVE)
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: Silver One Resources Inc. focuses on acquiring, exploring, and developing mineral properties in the United States, with a market cap of CA$88.74 million.
Operations: Currently, there are no reported revenue segments for the company.
Market Cap: CA$88.74M
Silver One Resources, with a market cap of CA$88.74 million, is pre-revenue and focuses on mineral exploration in the U.S. Its short-term assets of CA$2.2 million exceed both short- and long-term liabilities, indicating a stable financial position despite having less than a year of cash runway. The company recently completed an NI 43-101 mineral resource estimate for its Candelaria Project in Nevada, highlighting significant silver resources and potential economic extraction scenarios using advanced leaching techniques. This positions Silver One to potentially capitalize on favorable metal prices as it continues development efforts without debt constraints.
- Jump into the full analysis health report here for a deeper understanding of Silver One Resources.
- Learn about Silver One Resources' historical performance here.
Western Copper and Gold (TSX:WRN)
Simply Wall St Financial Health Rating: ★★★★★☆
Overview: Western Copper and Gold Corporation is an exploration stage company focused on the exploration and development of mineral properties in Canada, with a market cap of CA$344.01 million.
Operations: Western Copper and Gold Corporation does not report any revenue segments as it is currently in the exploration stage.
Market Cap: CA$344.01M
Western Copper and Gold Corporation, with a market cap of CA$344.01 million, is pre-revenue and in the exploration stage. Despite being unprofitable, its short-term assets of CA$65.8 million comfortably cover both short- and long-term liabilities. The company remains debt-free, providing financial flexibility as it advances its Casino Project in Yukon. Recent infrastructure initiatives, including a $40 million funding agreement for energy corridor development with Natural Resources Canada, underscore governmental support for mining projects in the region. However, management changes suggest potential instability at the leadership level as it navigates these developments without immediate revenue streams.
- Take a closer look at Western Copper and Gold's potential here in our financial health report.
- Learn about Western Copper and Gold's future growth trajectory here.
Where To Now?
- Click through to start exploring the rest of the 442 TSX Penny Stocks now.
- Searching for a Fresh Perspective? Diversify your portfolio with solid dividend payers offering reliable income streams to weather potential market turbulence.
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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