In Canada, recent economic indicators show a stabilization in the labor market and inflation rates within the Bank of Canada's target range, contributing to a broader sense of economic resilience. For investors seeking opportunities in smaller or newer companies, penny stocks—despite their somewhat outdated name—remain a relevant area for potential growth. These stocks can offer surprising value when backed by strong financials, making them an intriguing option for those looking to explore under-the-radar investments with long-term promise.
Top 10 Penny Stocks In Canada
| Name | Share Price | Market Cap | Rewards & Risks |
| Westbridge Renewable Energy (TSXV:WEB) | CA$3.35 | CA$84.69M | ✅ 3 ⚠️ 4 View Analysis > |
| Canso Select Opportunities (TSXV:CSOC.A) | CA$4.50 | CA$22.73M | ✅ 2 ⚠️ 2 View Analysis > |
| Montero Mining and Exploration (TSXV:MON) | CA$0.29 | CA$2.51M | ✅ 2 ⚠️ 4 View Analysis > |
| CEMATRIX (TSX:CEMX) | CA$0.365 | CA$54.82M | ✅ 2 ⚠️ 1 View Analysis > |
| Zedcor (TSXV:ZDC) | CA$4.96 | CA$510.85M | ✅ 3 ⚠️ 2 View Analysis > |
| Thor Explorations (TSXV:THX) | CA$1.28 | CA$824.97M | ✅ 3 ⚠️ 2 View Analysis > |
| Automotive Finco (TSXV:AFCC.H) | CA$1.11 | CA$22.4M | ✅ 2 ⚠️ 3 View Analysis > |
| Amerigo Resources (TSX:ARG) | CA$2.70 | CA$427.95M | ✅ 3 ⚠️ 2 View Analysis > |
| Pulse Seismic (TSX:PSD) | CA$3.57 | CA$183.23M | ✅ 2 ⚠️ 1 View Analysis > |
| Matachewan Consolidated Mines (TSXV:MCM.A) | CA$0.89 | CA$9.33M | ✅ 2 ⚠️ 4 View Analysis > |
Click here to see the full list of 417 stocks from our TSX Penny Stocks screener.
Let's uncover some gems from our specialized screener.
Colonial Coal International (TSXV:CAD)
Simply Wall St Financial Health Rating: ★★★★★★
Overview: Colonial Coal International Corp. focuses on acquiring, exploring, and developing coal properties in Canada with a market cap of CA$263.48 million.
Operations: Colonial Coal International Corp. has not reported any revenue segments.
Market Cap: CA$263.48M
Colonial Coal International Corp., with a market cap of CA$263.48 million, remains pre-revenue and unprofitable, experiencing a 25.5% annual increase in losses over the past five years. Despite this, the company is debt-free and maintains sufficient cash runway for over three years based on current free cash flow trends. Its short-term assets of CA$5.5 million comfortably cover both short-term and long-term liabilities. The management team and board are seasoned, with average tenures of 14.9 and 11.8 years respectively, providing stability as the company presented at the Canada Growth Conference in September 2025.
- Click to explore a detailed breakdown of our findings in Colonial Coal International's financial health report.
- Understand Colonial Coal International's track record by examining our performance history report.
Sun Peak Metals (TSXV:PEAK)
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: Sun Peak Metals Corp. focuses on acquiring, exploring, and developing resource properties for mining precious and base metals in Ethiopia, with a market cap of CA$27.44 million.
Operations: Sun Peak Metals Corp. has not reported any revenue segments.
Market Cap: CA$27.44M
Sun Peak Metals Corp., with a market cap of CA$27.44 million, is pre-revenue and currently unprofitable, yet it has managed to reduce losses over the past five years. The company is debt-free and its short-term assets of CA$758K exceed liabilities of CA$35.3K, though it faces a cash runway of less than one year. Despite operational suspension in Ethiopia due to regional instability, Sun Peak remains committed to its Shire Project while exploring global opportunities. Its seasoned management team and board bring stability amidst high share price volatility and increased weekly returns volatility over the past year.
- Click here and access our complete financial health analysis report to understand the dynamics of Sun Peak Metals.
- Learn about Sun Peak Metals' historical performance here.
Royal Road Minerals (TSXV:RYR)
Simply Wall St Financial Health Rating: ★★★★★★
Overview: Royal Road Minerals Limited is involved in the exploration and development of mineral properties across the Kingdom of Saudi Arabia, Morocco, Jersey, and South America with a market cap of CA$30.56 million.
Operations: Royal Road Minerals Limited has not reported any revenue segments.
Market Cap: CA$30.56M
Royal Road Minerals Limited, with a market cap of CA$30.56 million, is pre-revenue and unprofitable, reporting increased losses in its recent earnings. The company holds no debt and has sufficient cash runway for over a year based on current free cash flow trends. Its management and board are experienced, providing stability despite high share price volatility. Recent drilling at the Lalla Aziza copper project in Morocco shows promising results that could support future development potential if further resources are confirmed. Short-term assets of CA$4.9 million comfortably cover liabilities of CA$261.5K, reflecting sound financial positioning despite ongoing challenges.
- Jump into the full analysis health report here for a deeper understanding of Royal Road Minerals.
- Gain insights into Royal Road Minerals' past trends and performance with our report on the company's historical track record.
Seize The Opportunity
- Gain an insight into the universe of 417 TSX Penny Stocks by clicking here.
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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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