3 TSX Penny Stocks With Market Caps Over CA$30M

As the Canadian market navigates trade uncertainties, newly announced tariffs and inflation concerns continue to drive volatility. Amid these conditions, investors are focusing on what’s known to guide their decisions, with penny stocks offering a unique opportunity for growth at lower price points. Despite being considered an outdated term, penny stocks represent smaller or newer companies that can provide significant returns when supported by strong financials and solid fundamentals.

Top 10 Penny Stocks In Canada

Click here to see the full list of 924 stocks from our TSX Penny Stocks screener.

Let's explore several standout options from the results in the screener.

Blue Lagoon Resources (CNSX:BLLG)

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

Overview: Blue Lagoon Resources Inc. is involved in the acquisition, exploration, and evaluation of mineral properties in Canada with a market cap of CA$34.60 million.

Operations: Blue Lagoon Resources Inc. currently has no reported revenue segments.

Market Cap: CA$34.6M

Blue Lagoon Resources Inc. is a pre-revenue company with a market cap of CA$34.60 million, actively involved in mineral exploration in Canada. Despite being debt-free, it faces financial challenges with short-term assets of CA$375.5K not covering long-term liabilities of CA$7.7M and sufficient cash runway for only two months as of December 2024, though recent capital raised through a private placement may provide temporary relief. The company's stock has experienced high volatility over the past year and remains unprofitable, reporting increased losses compared to the previous year while maintaining stable share price dilution levels for shareholders.

• Click here and access our complete financial health analysis report to understand the dynamics of Blue Lagoon Resources.
• Review our historical performance report to gain insights into Blue Lagoon Resources' track record.

NorthWest Copper (TSXV:NWST)

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

Overview: NorthWest Copper Corp. is engaged in acquiring and exploring mineral properties in Canada, with a market cap of CA$44.84 million.

Operations: The company does not report any revenue segments.

Market Cap: CA$44.84M

NorthWest Copper Corp., with a market cap of CA$44.84 million, is a pre-revenue entity focusing on mineral exploration in Canada. The company is debt-free and has short-term assets of CA$2.3M exceeding its long-term liabilities of CA$327.5K, but it faces financial strain with less than a year of cash runway if current cash flow trends persist. Recent insider selling and high share price volatility add to investor concerns, although the appointment of experienced geoscientist Geoffrey Chinn as VP for Business Development and Exploration may bolster strategic initiatives in exploration and project evaluation efforts.

• Dive into the specifics of NorthWest Copper here with our thorough balance sheet health report.
• Learn about NorthWest Copper's historical performance here.

Stampede Drilling (TSXV:SDI)

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

Overview: Stampede Drilling Inc. offers oilfield services to the oil and natural gas industry in North America, with a market cap of CA$33.66 million.

Operations: The company's revenue is primarily generated from its contract drilling segment, amounting to CA$82.07 million.

Market Cap: CA$33.66M

Stampede Drilling Inc., with a market cap of CA$33.66 million, primarily generates revenue from its contract drilling segment, reporting sales of CA$82.07 million for 2024. Despite stable weekly volatility and a seasoned management team, the company's net profit margins decreased to 6.3% from 12.3% last year, alongside negative earnings growth over the same period. While short-term assets exceed short-term liabilities by CA$3.1 million, they fall short in covering long-term liabilities by CA$1.3 million. The company has completed a share buyback program without significant shareholder dilution and maintains satisfactory debt levels with well-covered interest payments.

• Click here to discover the nuances of Stampede Drilling with our detailed analytical financial health report.
• Gain insights into Stampede Drilling's outlook and expected performance with our report on the company's earnings estimates.

Seize The Opportunity

• Click this link to deep-dive into the 924 companies within our TSX Penny Stocks screener.
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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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