With the Bank of Canada having reduced interest rates significantly, the Canadian market is navigating a period of economic recalibration, balancing inflation concerns and a softening labor market. In this context, penny stocks—often representing smaller or newer companies—offer intriguing opportunities for investors seeking growth at lower entry points. By focusing on those with strong financials and clear growth potential, investors can uncover hidden gems that might provide stability and upside in uncertain times.
Top 10 Penny Stocks In Canada
| Name | Share Price | Market Cap | Rewards & Risks |
| Westbridge Renewable Energy (TSXV:WEB) | CA$2.31 | CA$60.69M | ✅ 3 ⚠️ 4 View Analysis > |
| Canso Select Opportunities (TSXV:CSOC.A) | CA$4.80 | CA$18.67M | ✅ 2 ⚠️ 2 View Analysis > |
| Montero Mining and Exploration (TSXV:MON) | CA$0.275 | CA$2.3M | ✅ 2 ⚠️ 4 View Analysis > |
| Fintech Select (TSXV:FTEC) | CA$0.04 | CA$2.8M | ✅ 2 ⚠️ 3 View Analysis > |
| Thor Explorations (TSXV:THX) | CA$1.06 | CA$665.3M | ✅ 3 ⚠️ 2 View Analysis > |
| Automotive Finco (TSXV:AFCC.H) | CA$1.01 | CA$20.02M | ✅ 2 ⚠️ 4 View Analysis > |
| Amerigo Resources (TSX:ARG) | CA$2.25 | CA$364.97M | ✅ 2 ⚠️ 2 View Analysis > |
| Pulse Seismic (TSX:PSD) | CA$4.18 | CA$203.53M | ✅ 2 ⚠️ 1 View Analysis > |
| Hemisphere Energy (TSXV:HME) | CA$1.98 | CA$186.53M | ✅ 3 ⚠️ 1 View Analysis > |
| Matachewan Consolidated Mines (TSXV:MCM.A) | CA$0.32 | CA$3.98M | ✅ 2 ⚠️ 4 View Analysis > |
Click here to see the full list of 418 stocks from our TSX Penny Stocks screener.
Below we spotlight a couple of our favorites from our exclusive screener.
American Creek Resources (TSXV:AMK)
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: American Creek Resources Ltd. is a company that acquires and explores mineral properties in Canada, with a market cap of CA$61.75 million.
Operations: Currently, there are no revenue segments reported for American Creek Resources Ltd.
Market Cap: CA$61.75M
American Creek Resources Ltd. is a pre-revenue company focused on mineral exploration, with a market cap of CA$61.75 million. The company's financial position shows it has no long-term liabilities and more cash than total debt, but its short-term assets are insufficient to cover short-term liabilities of CA$404.6K. Despite having raised additional capital recently, American Creek's cash runway is limited to three months based on current free cash flow estimates. The company is involved in an acquisition by Tudor Gold Corp., which could see shareholders owning 30% of the combined entity post-transaction completion expected by August 31, 2025.
- Dive into the specifics of American Creek Resources here with our thorough balance sheet health report.
- Gain insights into American Creek Resources' historical outcomes by reviewing our past performance report.
Mayfair Gold (TSXV:MFG)
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: Mayfair Gold Corp. acquires, explores, evaluates, and develops mineral properties with a market cap of CA$182.50 million.
Operations: Mayfair Gold Corp. currently does not report any revenue segments as it focuses on acquiring, exploring, evaluating, and developing mineral properties.
Market Cap: CA$182.5M
Mayfair Gold Corp., with a market cap of CA$182.50 million, is a pre-revenue mining company focused on developing its Fenn-Gib Gold Project in Ontario. Recent earnings showed improvement, with net losses decreasing from the previous year. The company is debt-free and has short-term assets exceeding its liabilities but faces cash runway constraints of less than a year if current free cash flow trends persist. Management and board experience are limited, suggesting recent changes in leadership. Mayfair's strategic focus includes advancing high-grade mineralization through ongoing drilling programs to enhance resource confidence and potential economic extraction viability.
- Get an in-depth perspective on Mayfair Gold's performance by reading our balance sheet health report here.
- Examine Mayfair Gold's past performance report to understand how it has performed in prior years.
Nations Royalty (TSXV:NRC)
Simply Wall St Financial Health Rating: ★★★★★☆
Overview: Nations Royalty Corp. is a royalty company that acquires royalties in the Canadian resource sector, with a market cap of CA$92.64 million.
Operations: The company generated CA$0.84 million from its activities in the acquisition, exploration, and development of mineral properties.
Market Cap: CA$92.64M
Nations Royalty Corp., with a market cap of CA$92.64 million, is a pre-revenue company in the Canadian resource sector. Despite being debt-free and having short-term assets covering liabilities, it faces financial challenges with less than one year of cash runway if free cash flow continues to decline at historical rates. Recent earnings reported a significant net loss of CA$28.55 million for the year ended March 31, 2025, contrasting with a small profit the previous year. The management and board are relatively inexperienced, reflecting recent leadership changes amidst efforts to stabilize operations and explore growth opportunities in mineral royalties.
- Jump into the full analysis health report here for a deeper understanding of Nations Royalty.
- Explore historical data to track Nations Royalty's performance over time in our past results report.
Summing It All Up
- Access the full spectrum of 418 TSX Penny Stocks by clicking on this link.
- Curious About Other Options? Trump's oil boom is here — pipelines are primed to profit. Discover the 22 US stocks riding the wave.
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.
Valuation is complex, but we're here to simplify it.
Discover if American Creek Resources might be undervalued or overvalued with our detailed analysis, featuring fair value estimates, potential risks, dividends, insider trades, and its financial condition.
Access Free AnalysisHave feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com