The Canadian stock market has recently demonstrated resilience, with large-cap stocks reaching new all-time highs despite global economic uncertainties and ongoing trade policy discussions. In this context, investors often seek opportunities in various segments of the market, including penny stocks—an investment area that remains relevant for those interested in smaller or emerging companies. Although the term "penny stocks" may seem outdated, these investments can offer a blend of affordability and potential growth when supported by strong financials and clear business strategies.
Top 10 Penny Stocks In Canada
| Name | Share Price | Market Cap | Rewards & Risks |
| Westbridge Renewable Energy (TSXV:WEB) | CA$0.79 | CA$79.91M | ✅ 3 ⚠️ 3 View Analysis > |
| NTG Clarity Networks (TSXV:NCI) | CA$2.17 | CA$91.82M | ✅ 4 ⚠️ 2 View Analysis > |
| Intermap Technologies (TSX:IMP) | CA$2.38 | CA$140.71M | ✅ 3 ⚠️ 1 View Analysis > |
| Thor Explorations (TSXV:THX) | CA$0.62 | CA$412.48M | ✅ 3 ⚠️ 2 View Analysis > |
| Silvercorp Metals (TSX:SVM) | CA$4.98 | CA$1.08B | ✅ 5 ⚠️ 2 View Analysis > |
| Orezone Gold (TSX:ORE) | CA$1.02 | CA$537.5M | ✅ 4 ⚠️ 2 View Analysis > |
| McChip Resources (TSXV:MCS) | CA$0.63 | CA$3.6M | ✅ 2 ⚠️ 5 View Analysis > |
| PetroTal (TSX:TAL) | CA$0.59 | CA$539.99M | ✅ 3 ⚠️ 3 View Analysis > |
| Pulse Seismic (TSX:PSD) | CA$2.61 | CA$132.47M | ✅ 1 ⚠️ 2 View Analysis > |
| Findev (TSXV:FDI) | CA$0.45 | CA$12.89M | ✅ 2 ⚠️ 3 View Analysis > |
Click here to see the full list of 905 stocks from our TSX Penny Stocks screener.
Let's dive into some prime choices out of the screener.
Thinkific Labs (TSX:THNC)
Simply Wall St Financial Health Rating: ★★★★★★
Overview: Thinkific Labs Inc. develops, markets, and manages a cloud-based platform serving clients in Canada, the United States, and internationally, with a market cap of CA$183.58 million.
Operations: The company's revenue of $68.82 million is generated from its cloud-based platform's development, marketing, and support management.
Market Cap: CA$183.58M
Thinkific Labs Inc. has shown steady revenue growth, reporting US$17.84 million in Q1 2025, up from US$15.96 million a year ago, and achieving net income of US$0.401 million compared to a prior loss. The company is debt-free with short-term assets exceeding liabilities, enhancing financial stability. Despite recent profitability and share buybacks totaling 314,594 shares for US$0.68 million in early 2025, its stock remains volatile with low return on equity at 2.9%. Future earnings are forecasted to decline significantly over the next three years despite projected revenue growth of approximately 9% annually.
- Take a closer look at Thinkific Labs' potential here in our financial health report.
- Understand Thinkific Labs' earnings outlook by examining our growth report.
Midnight Sun Mining (TSXV:MMA)
Simply Wall St Financial Health Rating: ★★★★★★
Overview: Midnight Sun Mining Corp. acquires and explores mineral properties in Africa, with a market cap of CA$115.99 million.
Operations: Midnight Sun Mining Corp. does not report any revenue segments.
Market Cap: CA$115.99M
Midnight Sun Mining Corp., with a market cap of CA$115.99 million, is a pre-revenue company focused on mineral exploration in Africa. Recent developments include the commencement of an aggressive 2025 exploration campaign at its Solwezi Project in Zambia, targeting significant copper mineralization across key areas like Dumbwa and Kazhiba. Despite its promising exploration activities, the company faces financial challenges, reporting increased net losses for 2024 and auditor concerns about its ability to continue as a going concern. However, it remains debt-free with sufficient cash runway for over two years based on current free cash flow trends.
- Click here and access our complete financial health analysis report to understand the dynamics of Midnight Sun Mining.
- Explore historical data to track Midnight Sun Mining's performance over time in our past results report.
Western Exploration (TSXV:WEX)
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: Western Exploration Inc. is involved in the exploration, acquisition, development, and mining of precious metals and other mineral deposits in Nevada, United States, with a market cap of CA$39.07 million.
Operations: Western Exploration Inc. has not reported any revenue segments.
Market Cap: CA$39.07M
Western Exploration Inc., with a market cap of CA$39.07 million, is pre-revenue and focused on precious metals exploration in Nevada. The company recently announced a positive Preliminary Economic Assessment for its Doby George resource, projecting significant after-tax net cash flow over five years using a high gold price scenario. Despite this potential, Western Exploration reported increased net losses for 2024 and faces auditor doubts regarding its ability to continue as a going concern due to limited cash runway. However, it remains debt-free with short-term assets exceeding both short and long-term liabilities, providing some financial stability.
- Navigate through the intricacies of Western Exploration with our comprehensive balance sheet health report here.
- Examine Western Exploration's past performance report to understand how it has performed in prior years.
Where To Now?
- Explore the 905 names from our TSX Penny Stocks screener here.
- Seeking Other Investments? Outshine the giants: these 28 early-stage AI stocks could fund your retirement.
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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