Stock Analysis

TSX Penny Stocks With Market Caps Under CA$200M

TSXV:NTX
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As we head into the second half of 2025, the Canadian market is navigating a landscape shaped by ongoing tariff and trade negotiations, which could influence economic growth and inflation. Despite these uncertainties, the potential for positive economic growth remains, especially as both Canada and the U.S. are largely service-driven economies. In this context, penny stocks—often representing smaller or newer companies—continue to be an intriguing investment area due to their potential for significant returns when backed by strong financial health.

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Top 10 Penny Stocks In Canada

NameShare PriceMarket CapRewards & Risks
PetroTal (TSX:TAL)CA$0.69CA$640.24M✅ 3 ⚠️ 4 View Analysis >
Orezone Gold (TSX:ORE)CA$1.24CA$665.6M✅ 4 ⚠️ 2 View Analysis >
Dynacor Group (TSX:DNG)CA$4.40CA$189.71M✅ 4 ⚠️ 2 View Analysis >
Findev (TSXV:FDI)CA$0.445CA$12.6M✅ 2 ⚠️ 4 View Analysis >
Thor Explorations (TSXV:THX)CA$0.77CA$518.93M✅ 3 ⚠️ 2 View Analysis >
Automotive Finco (TSXV:AFCC.H)CA$0.89CA$17.44M✅ 2 ⚠️ 4 View Analysis >
NTG Clarity Networks (TSXV:NCI)CA$2.26CA$98.22M✅ 4 ⚠️ 2 View Analysis >
Intermap Technologies (TSX:IMP)CA$2.19CA$125.23M✅ 3 ⚠️ 2 View Analysis >
Hemisphere Energy (TSXV:HME)CA$1.95CA$185.99M✅ 3 ⚠️ 1 View Analysis >
McChip Resources (TSXV:MCS)CA$1.00CA$5.65M✅ 2 ⚠️ 4 View Analysis >

Click here to see the full list of 890 stocks from our TSX Penny Stocks screener.

Let's take a closer look at a couple of our picks from the screened companies.

Psyched Wellness (CNSX:PSYC)

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

Overview: Psyched Wellness Ltd. is a health supplements company that produces and distributes mushroom-derived products and related consumer packaged goods in the United States, with a market cap of CA$8.66 million.

Operations: The company generates revenue from its Vitamins & Nutrition Products segment, amounting to CA$0.64 million.

Market Cap: CA$8.66M

Psyched Wellness Ltd. is a pre-revenue company with CA$0.64 million in sales, facing auditor concerns about its ability to continue as a going concern. Despite having no debt and sufficient short-term assets (CA$6.7M) to cover liabilities (CA$234.9K), it remains unprofitable with increasing losses over the past five years at 14.7% annually. The stock's volatility is high, yet stable compared to previous periods, and shareholders have not faced significant dilution recently. A recent pilot for a new dietary supplement may offer future revenue potential if successful in consumer testing and market launch preparations are completed effectively.

CNSX:PSYC Debt to Equity History and Analysis as at Jun 2025
CNSX:PSYC Debt to Equity History and Analysis as at Jun 2025

Sailfish Royalty (TSXV:FISH)

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

Overview: Sailfish Royalty Corp. focuses on acquiring precious metals royalty and streaming agreements, with a market cap of CA$185.49 million.

Operations: The company generates revenue of $3.07 million from its royalties and stream interests.

Market Cap: CA$185.49M

Sailfish Royalty Corp. has a market cap of CA$185.49 million and is not pre-revenue, with US$0.59 million in revenue for Q1 2025 despite a net loss of US$0.075 million compared to the previous year's profit. The company benefits from its 2% net smelter return royalty on Mako Mining's El Golfo area, where promising drill results have been reported, potentially enhancing future cash flows and resource expansion opportunities. While Sailfish's earnings grew significantly last year, its forecasted decline in earnings presents a challenge alongside limited interest coverage by EBIT and dividends not well covered by earnings or free cash flow.

TSXV:FISH Revenue & Expenses Breakdown as at Jun 2025
TSXV:FISH Revenue & Expenses Breakdown as at Jun 2025

NeoTerrex Minerals (TSXV:NTX)

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

Overview: NeoTerrex Minerals Inc. is involved in the evaluation, acquisition, and exploration of mineral properties in Canada with a market cap of CA$14.96 million.

Operations: NeoTerrex Minerals Inc. does not currently report any revenue segments.

Market Cap: CA$14.96M

NeoTerrex Minerals Inc., with a market cap of CA$14.96 million, is pre-revenue and focuses on mineral exploration in Canada. The company has no debt and maintains a cash runway exceeding one year under stable conditions. Recent announcements highlight fully-funded exploration plans targeting rare earth elements across several projects, including Mount Discovery and Galactic REE projects, leveraging favorable tax incentives. Despite its unprofitability, NeoTerrex's strategic focus on critical minerals positions it for potential future value creation pending successful exploration outcomes. However, the stock remains highly volatile with significant price fluctuations observed recently.

TSXV:NTX Debt to Equity History and Analysis as at Jun 2025
TSXV:NTX Debt to Equity History and Analysis as at Jun 2025

Next Steps

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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